ICAT Managers Announces Equity Partnership With AXA Corporate Solutions Reinsurance Company N.Y.; RenaissanceRe

Apr 04, 2001, 01:00 ET from International Catastrophe Insurance Managers, LLC

    BOULDER, Colo., April 4 /PRNewswire/ -- Catastrophe insurance specialist
 International Catastrophe Insurance Managers, LLC. (ICAT) announced that it
 has entered into an equity partnership with AXA Corporate Solutions
 Reinsurance Company, N.Y. ("AXA CS") and Renaissance US Holdings, Inc.  AXA CS
 and Renaissance Reinsurance Company are two of the largest and leading
 catastrophe reinsurers in the global reinsurance market.
     AXA CS made a $3 million equity investment in ICAT Managers and will hold
 a seat on ICAT's Board of Directors; an additional $2 million line of credit
 has also been included as part of the AXA CS investment.  AXA CS's Paris-based
 reinsurance company is a key reinsurance partner of ICAT.  AXA Group is the
 largest insurance company in the world as measured by assets under management.
     Renaissance US Holdings has agreed to convert a previously extended
 $1.5 million note to equity.  Bermuda-based Renaissance Re is also a key
 reinsurance partner of ICAT; Ren Re is the largest catastrophe reinsurance
 specialist in the world.  Renaissance US Holdings will also have a seat on the
 ICAT Board.
     "We are very pleased to have AXA CS and Renaissance display this level of
 confidence in our business plan, underwriting philosophy and staff," said Jack
 Graham, Chief Executive Officer of ICAT Managers.  "AXA CS and Ren Re are
 tremendous partners for ICAT; our mutual focus on catastrophe insurance
 products is a natural fit and we expect to benefit greatly from the expertise
 and stability they will contribute to our company."
 
     About the Company
     Formed in 1998, ICAT Managers is a recognized leader in catastrophe risk
 underwriting and web-based applications for the insurance industry.  The
 company underwrites earthquake and windstorm coverage for commercial
 properties throughout the United States.  All business is transacted at
 www.icatmanagers.com, which allows Producers to submit coverage requests and
 receive instant quotes and underwriting decisions online.
 
 

SOURCE International Catastrophe Insurance Managers, LLC
    BOULDER, Colo., April 4 /PRNewswire/ -- Catastrophe insurance specialist
 International Catastrophe Insurance Managers, LLC. (ICAT) announced that it
 has entered into an equity partnership with AXA Corporate Solutions
 Reinsurance Company, N.Y. ("AXA CS") and Renaissance US Holdings, Inc.  AXA CS
 and Renaissance Reinsurance Company are two of the largest and leading
 catastrophe reinsurers in the global reinsurance market.
     AXA CS made a $3 million equity investment in ICAT Managers and will hold
 a seat on ICAT's Board of Directors; an additional $2 million line of credit
 has also been included as part of the AXA CS investment.  AXA CS's Paris-based
 reinsurance company is a key reinsurance partner of ICAT.  AXA Group is the
 largest insurance company in the world as measured by assets under management.
     Renaissance US Holdings has agreed to convert a previously extended
 $1.5 million note to equity.  Bermuda-based Renaissance Re is also a key
 reinsurance partner of ICAT; Ren Re is the largest catastrophe reinsurance
 specialist in the world.  Renaissance US Holdings will also have a seat on the
 ICAT Board.
     "We are very pleased to have AXA CS and Renaissance display this level of
 confidence in our business plan, underwriting philosophy and staff," said Jack
 Graham, Chief Executive Officer of ICAT Managers.  "AXA CS and Ren Re are
 tremendous partners for ICAT; our mutual focus on catastrophe insurance
 products is a natural fit and we expect to benefit greatly from the expertise
 and stability they will contribute to our company."
 
     About the Company
     Formed in 1998, ICAT Managers is a recognized leader in catastrophe risk
 underwriting and web-based applications for the insurance industry.  The
 company underwrites earthquake and windstorm coverage for commercial
 properties throughout the United States.  All business is transacted at
 www.icatmanagers.com, which allows Producers to submit coverage requests and
 receive instant quotes and underwriting decisions online.
 
 SOURCE  International Catastrophe Insurance Managers, LLC