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Crum Forster Acquires Transnational Insurance

January 5, 2001

Crum&Forster has acquired from PXRE Corporation its excess and surplus lines subsidiary, Transnational Insurance Company. All pre-acquisition business and liabilities of Transnational, to be renamed Crum & Forster Specialty Insurance Company, have been assumed by PXRE.

Crum & Forster Specialty will focus on unique and unusual classes of business where severity of loss, rather than frequency of transactions, is the inherent risk. Crum & Forster Specialty is expected to be assigned a reinsured group rating of A- (Excellent) Financial Size Category X by A.M.

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