Zurich Global Energy Acquires Energy Business from CNA Division

August 22, 2000

Zurich Global Energy, the energy unit of Zurich Financial Services Group, and All American Marine Slip, a unit of MOAC, the ocean marine arm of CNA, announced today the transfer of a substantial part of AAMS’ offshore energy book of business to Zurich Global Energy.

The transfer is effective September 1, 2000, and the new business will be known as All American Marine Slip Energy underwritten by Zurich Global Energy. Zurich Global Energy is a leading provider of risk and financial management solutions for oil and gas, petrochemical, mining and power operations worldwide.

This strategic move adds to Zurich Global Energy’s worldwide presence, and significantly increases the organization’s book of business in the U.S. MOAC is the largest insurer of ocean marine risks in the U.S. The transfer of this energy business by AAMS will allow the organization to focus on its core lines of business, including Bluewater, Coastwise and Inland Hull, Marine Liabilities and Cargo.

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