American Re Elects Paul H. Inderbitzin Chairman And Chief Executive Officer

Business Wire, Nov 20, 1995

PRINCETON, N.J.--(BUSINESS WIRE)--Nov. 20, 1995--The board of directors of American Re Corporation (NYSE:ARN) has elected Paul H. Inderbitzin Chairman and Chief Executive Officer, effective on the retirement of Edward B. Jobe, the current Chairman and CEO, on January 1, 1996. Mr. Inderbitzin, 47, will also retain his current positions as President of American Re Corporation and Chairman, President and CEO of American Re-Insurance Company, American Re's principal operating subsidiary. After his retirement, Mr. Jobe, 66, who has been associated with the American Re organization for more than 32 years, will serve as a consultant to the company. Both Mr. Inderbitzin and Mr. Jobe will remain directors of American Re Corporation.

Mr. Jobe said, "This announcement successfully completes the succession plan we have been following for many years and is the natural culmination of the great partnership Paul Inderbitzin and I have enjoyed for more than a dozen years."

Mr. Inderbitzin commented, "Ed Jobe's commitment, tireless effort and personal warmth have made an immeasurable contribution to American Re for over three decades. He added, The client-focused culture that we have jointly institutionalized at American Re will continue to expand and be the foundation for our future growth."

Mr. Inderbitzin joined American Re-Insurance Company in 1983 as Vice President, Treaty. He was promoted to Vice President and Manager in charge of the Treaty Production Department in 1984. In 1985, he was appointed Senior Vice President, Treaty. He was promoted to Executive Vice President in 1987, to President in 1992, and to Chairman, President and CEO of American Re-Insurance Company in January 1995. Since 1993 he has also been President of American Re's holding company, American Re Corporation. His previous experience includes Vice President, Ceded Reinsurance, of Reliance Insurance Companies, and Actuary, American Agricultural Insurance Company. He received a Bachelor of Science degree in Mathematics from John Fisher University and is an Associate of the Casualty Actuarial Society. He is also a member of the board of directors of the Hun School, Princeton, NJ.

American Re Corporation, through its wholly owned subsidiaries, is a direct writer of treaty and facultative reinsurance and a provider of related services. Headquartered in Princeton, NJ, American Re has approximately 1,200 employees in offices in 13 domestic and 16 international offices.

CONTACT: American Re Corporation

Terese Rosenthal, 609-243-4339