Year-end Results for 1999
1999 Was Another Very Successful Year

ATLANTA, March 14, 2000—We have finished our financial reports for the year 1999, and by all accounts it was another excellent year for Munich American Reassurance Company. Our new life reinsurance assumed increased to $56 billion, while our life insurance in force increased to $114 billion (see chart). Our very favorable claims experience contributed to our excellent results for the year.

Credit premium grew by 35% in 1999. We added several new Group Life and AD&D accounts. We also successfully expanded our Group LTD line, so that group premium increased substantially.

In a short period of time, we have become the leading reinsurer of new Individual Disability Income coverage. Our premium grew to over $20 million in 1999 as we have continued to add new accounts. We expect IDI to be a big part of our operation in the future.

Long Term Care insurance has become a very important product addressing a growing market need. We currently reinsure several of the leading writers of LTC coverage and plan to expand our activities in that product line in the future. Our acquisition of LifePlans, Inc. at year-end 1998 allows us direct access to their expertise in this market. Should your company have interest in LTC insurance, we would love to talk to you about how we may help.

With all the uncertainty in the market today, the financial strength of a reinsurer is a critical consideration. Once again, we have received an A+ (Excellent) rating from A.M. Best, as well as a AAA rating from Standard & Poor’s. Likewise, our parent, the Munich Reinsurance Company, had its A++ and AAA ratings reaffirmed by those two agencies.

The future looks bright, and we plan to continue the strong growth pattern of the past few years. We thank you for your business and support, and we look forward to working with you in the future.

Munich American Reassurance Company