St. Paul Chief Steps Down

March 9, 2001

The St. Paul Cos. has announced that Paul J. Liska, executive vice president and chief financial officer, has resigned, effective April 1.

Meanwhile, the company also announced that it has agreed to sell more than 1.72 million shares of RenaissanceRe Holdings Ltd., a Bermuda-based reinsurer.

The shares are being sold in a secondary public offering, priced at $72.20 per share. The gross proceeds of the sale are $124.6 million. The St. Paul’s after-tax gain on this sale is $39.3 million. The sale is scheduled to close March 13.

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