Swiss Re Life & Health America Inc. Announces Reinsurance Agreement With Aurora National Life Assurance Company

Apr 25, 2001, 01:00 ET from Swiss Re Life & America Inc.

    STAMFORD, Conn., April 25 /PRNewswire/ -- Swiss Re Life & Health America
 Inc. today announced that its affiliate, Reassure America Life Insurance
 Company, has entered into a modified coinsurance agreement with Aurora
 National Life Assurance Company whereby Reassure America will reinsure
 95 percent of Aurora's life insurance and annuity business.
     Aurora is a California life insurance company based in Santa Monica,
 California.
     The agreement covers approximately 150,000 active policies and contracts
 and approximately $3.3 billion of reserves.  Reassure America also will assume
 administrative responsibilities required for such policies and contracts, the
 day-to-day performance of which will be outsourced to a third party
 administrator.
     Additionally, Reassure America has the option to acquire Aurora's parent,
 New California Holdings, Inc., subject to the approval of the California
 Department of Insurance and the completion of certain other conditions.
     Swiss Re Life & Health America Inc., with its affiliates, is the largest
 life and health reinsurer in North America.  As of December 31, 2000, the
 combined companies had in excess of $800 billion of life insurance in force.
 Reassure America Life Insurance Company, an Illinois domiciled life insurance
 company, serves as the primary platform for Swiss Re's Administrative
 Reinsurance(SM) line of business.
 
     Notes to editors
     Swiss Re Life & Health America Inc. is the US operation of Swiss Re Life &
 Health, a specialist global division of Swiss Re Group.  The division delivers
 capital and risk management solutions to its clients - life and health
 insurers worldwide -across a wide spectrum of products.  Headquartered in
 London, the division operates through a network of 37 offices in 31 countries,
 serving clients in virtually every country in the world.
     Swiss Re is a leading reinsurer, and the world's largest life reinsurer.
 With more than 9,000 employees, Swiss Re is represented at more than
 70 offices in over 30 countries worldwide. Swiss Re is rated "Aaa" by Moody's,
 "AAA" by Standard & Poor's and "A++" (Superior) by A. M. Best.
 
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SOURCE Swiss Re Life & America Inc.
    STAMFORD, Conn., April 25 /PRNewswire/ -- Swiss Re Life & Health America
 Inc. today announced that its affiliate, Reassure America Life Insurance
 Company, has entered into a modified coinsurance agreement with Aurora
 National Life Assurance Company whereby Reassure America will reinsure
 95 percent of Aurora's life insurance and annuity business.
     Aurora is a California life insurance company based in Santa Monica,
 California.
     The agreement covers approximately 150,000 active policies and contracts
 and approximately $3.3 billion of reserves.  Reassure America also will assume
 administrative responsibilities required for such policies and contracts, the
 day-to-day performance of which will be outsourced to a third party
 administrator.
     Additionally, Reassure America has the option to acquire Aurora's parent,
 New California Holdings, Inc., subject to the approval of the California
 Department of Insurance and the completion of certain other conditions.
     Swiss Re Life & Health America Inc., with its affiliates, is the largest
 life and health reinsurer in North America.  As of December 31, 2000, the
 combined companies had in excess of $800 billion of life insurance in force.
 Reassure America Life Insurance Company, an Illinois domiciled life insurance
 company, serves as the primary platform for Swiss Re's Administrative
 Reinsurance(SM) line of business.
 
     Notes to editors
     Swiss Re Life & Health America Inc. is the US operation of Swiss Re Life &
 Health, a specialist global division of Swiss Re Group.  The division delivers
 capital and risk management solutions to its clients - life and health
 insurers worldwide -across a wide spectrum of products.  Headquartered in
 London, the division operates through a network of 37 offices in 31 countries,
 serving clients in virtually every country in the world.
     Swiss Re is a leading reinsurer, and the world's largest life reinsurer.
 With more than 9,000 employees, Swiss Re is represented at more than
 70 offices in over 30 countries worldwide. Swiss Re is rated "Aaa" by Moody's,
 "AAA" by Standard & Poor's and "A++" (Superior) by A. M. Best.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X84754488
 
 SOURCE  Swiss Re Life & America Inc.