Royal & SunAlliance USA and Universal Reinsurance Join Forces For Personal Insurance Agency Captive Program

Sep 10, 2002, 01:00 ET from Royal & SunAlliance USA

    CHARLOTTE, N.C., Sept. 10 /PRNewswire-FirstCall/ -- Royal & SunAlliance
 USA has teamed up with Universal Reinsurance for its new, groundbreaking
 Personal Insurance Agency Captive Program.
     (Photo: )
     For several years, Universal Reinsurance has worked closely with Artis(R),
 Royal & SunAlliance's Commercial Lines Alternative Risk Transfer business.
 This well-established relationship will contribute to the smooth
 implementation of the innovative Royal & SunAlliance Personal Insurance Agency
 Captive program.
     "We have enjoyed a mutually beneficial relationship with Royal &
 SunAlliance for many years, and we are very excited to embark on this
 innovative new venture," stated Hal Forkush, President of Universal
 Reinsurance Company Limited.
     "The creation of a Personal Insurance Agency Captive Program raised some
 unique issues," said Mike McNally, Vice President of Personal Insurance
 Marketing at Royal & SunAlliance.  "Our existing relationship with Universal
 Reinsurance, which actually owns the registered trademark Rent-A-Captive(R) in
 the US and UK, is invaluable to the success of the program."
     The Royal & SunAlliance Personal Insurance Agency Captive Program was
 introduced earlier this year and is the centerpiece of the company's personal
 insurance strategy.  Under this new program, agencies share in the proceeds
 from their book of business in addition to earning commissions, more than
 doubling their profit potential over traditional profit-sharing agreements.
     For more information about the Royal & SunAlliance Personal Insurance
 Agency Captive Program, contact Jeff Quinn at 704-522-3159 or Mike McNally at
     About Royal & SunAlliance USA
     Royal & SunAlliance's Personal Insurance business is part of the company's
 Consumer Division, which provides a variety of customized insurance coverages
 including homeowners, standard and preferred auto, nonstandard auto, boat,
 umbrella, motorhome, and flood.  The Division also offers credit-related
 insurance programs for banks, credit unions, leasing/finance companies and
 automobile/equipment dealerships.
     Royal & SunAlliance USA is one of the 25 largest property/casualty
 insurers in the United States, delivering a variety of client-driven
 commercial and personal insurance solutions.  Royal & SunAlliance USA is part
 of London-based Royal & Sun Alliance Insurance Group plc (NYSE:   RSA; LSE),
 which transacts business in more than 130 countries and ranks as one of the
 10 largest multi-line insurers in the world.
     About Universal Reinsurance
     Universal Reinsurance Company Limited, organized in 1974, is independently
 owned and operated with ownership residing in Bermuda, exclusively.  It is one
 of the oldest offshore Rent-A-Captive(R) vehicles in the world and serves all
 aspects of the alternative risk market.
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SOURCE Royal & SunAlliance USA