American Re to Sell Becher + Carlson Risk Management

American Re Corporation announced that its subsidiary, Munich American Global Services, Inc., has entered into an agreement for the sale of its subsidiary, Becher + Carlson Risk Management, Inc., the holding company for the Becher + Carlson Companies to a group of purchasers that includes B+C’s management and employees.

The bulletin said that “the terms of the sale, which is expected to close on or about November 10, 2003, were not disclosed.”

Greg Myers, Becher and Carlson’s President, commented, “We are pleased to announce the proposed acquisition. The acquisition will enable the Becher and Carlson family to advance its position as a leader in retail brokerage, risk management consulting and captive management services to large organizations and groups.” The company will retain its current trade names, operating structures and management teams.

The bulletin also noted that “Becher + Carlson Management Ltd. will continue to manage American Re’s Bermuda-based rental captive facilities, Princeton Eagle Insurance Company Limited and Princeton Eagle West Insurance Company Limited, which are accessed by the clients of Munich-American RiskPartners, American Re’s alternative market group.”