A.M. Best Withdraws Indicative Financial Strength Rating of Danish Re Bermuda Ltd.

March 11, 2002

A.M. Best Co. has withdrawn the A- (Excellent) indicative financial strength rating of Danish Re Bermuda Ltd., following the delay in completing a USD 200 million private equity placement offer to increase its underwriting capacity.

The A- indicative rating was assigned subject to the successful completion of the placement offer before the end of first quarter 2002.

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