Transatlantic Reinsurance Company (TRC), a subsidiary of Transatlantic Holdings, Inc. (NYSE: TRH), is pleased to announce the opening of a representative office in Munich, Germany.
This office is headed by Rüdiger Skaletz, a seasoned reinsurance executive with almost two decades of experience serving insurance and reinsurance clients in Germany and Austria.
Paul Bonny, Executive Vice President - President International Operations, commented, "The addition of our Munich office will enable Transatlantic to better serve cedants and their brokers in the region and complement our existing operations in other major European business centers. With a distinguished industry background and broad product expertise, Rüdiger is ideally suited to lead this operation."
Robert F. Orlich, Chairman, President and Chief Executive Officer, added, "We are pleased to be adding this important reinsurance center to locations served by our extensive office network. These locations bring us closer to the sources of business and allow Transatlantic to develop a better partnership with cedants, who stand to benefit from our financial strength, breadth of products and global reinsurance expertise."
Mr. Skaletz can be contacted at:
| TransRe Germany GmbH |
| Promenadeplatz 8 |
| 80333 Munich |
| Germany |
| Tel.: +49 89 1894 2554 0 |
| Fax: +49 89 1894 2554 9 |
Transatlantic Reinsurance Company is a subsidiary of Transatlantic Holdings, Inc. (TRH), which is a leading international reinsurance organization headquartered in New York, with operations on six continents. TRH´s subsidiaries, Transatlantic Reinsurance Company®, Trans Re Zurich (TRZ) and Putnam Reinsurance Company (Putnam), offer reinsurance capacity on both a treaty and facultative basis –– structuring programs for a full range of property and casualty products, with an emphasis on specialty risks. Transatlantic Holdings, Inc. and its subsidiaries rank among the ten largest property and casualty reinsurance groups in the world. The financial strength ratings of TRC, TRZ and Putnam are among the highest assigned by the major rating agencies to reinsurance companies.
Caution concerning forward–looking statements:
This press release contains forward–looking statements within the meaning of the U.S. federal securities laws. These forward–looking statements are based on assumptions and opinions concerning a variety of known and unknown risks. Please refer to TRH´s Annual Report on Form 10–K for the year ended December 31, 2007 and the Quarterly Report on Form 10–Q for the quarter ended March 31, 2008 as well as its future filings and reports filed with or furnished to the Securities and Exchange Commission for a description of the business environment in which TRH operates and the important factors, risks and uncertainties that may affect its business and financial results. If any assumptions or opinions prove incorrect, any forward–looking statements made on that basis may also prove materially incorrect. TRH is not under any obligation to (and expressly disclaims any such obligations to) update or alter its forward–looking statements whether as a result of new information, future events or otherwise.
Visit – www.transre.com – for additional information about the Company.