Risk Capital Re Forms Excess and Surplus Lines Subsidiary

Business Wire, Oct 29, 1998

GREENWICH, CONNECTICUT--(BUSINESS WIRE)--October 29, 1998-- Risk Capital Reinsurance Company, a wholly owned subsidiary of Risk Capital Holdings, Inc. (NASDAQ:RCHI), announced the formation of Cross River Insurance Company, an excess and surplus lines insurance company. Domiciled and licensed in Nebraska, the company intends to seek authorization to operate in most other states as a non-admitted carrier. Cross River Insurance Company is capitalized with $20 million.

Risk Capital Holdings, Inc., through its wholly owned subsidiary Risk Capital Reinsurance Company, provides reinsurance and other forms of capital, either on a stand-alone basis, or as part of integrated solutions for insurance companies with capital needs that cannot be met by reinsurance alone.