<PAGE>

                                                                      Exhibit 24


                            LIMITED POWER OF ATTORNEY

         WHEREAS, AMERICAN RE CORPORATION, a Delaware corporation (the
"Company"), will file with the Securities and Exchange Commission (the
"Commission"), under the Exchange Act of 1934 (the "Act"), an annual report on
Form 10-K, together with any and all exhibits and other documents related
thereto ("Form 10-K");

         NOW, THEREFORE, the undersigned in his capacity as a director or
officer, or both, as the case may be, of the Company does hereby appoint Robert
K. Burgess, James R. Fisher and George T. O'Shaughnessy, Jr. his true and lawful
attorneys-in-fact and with full power of substitution and resubstitution, to
execute in his name, place, and stead, in his capacity as a director or officer,
or both, as the case may be, of the Company, the Form 10-K including the
exhibits thereto and any and all amendments thereto as said attorneys-in-fact or
any of them shall deem necessary or appropriate, together with all instruments
necessary or incidental in connection therewith, to file the same or cause the
same to be filed with the Commission, and to appear before the Commission in
connection with any matter relating thereto.

         Said attorneys-in-fact shall have full power and authority to do and
perform in the name and on behalf of the undersigned, in any and all capacities,
every act whatsoever necessary or desirable in connection with such Form 10-K as
fully and for all intents and purposes as the undersigned might or could do in
person, the undersigned hereby ratifying and approving the acts of said
attorneys-in-fact.

         IN WITNESS WHEREOF, the undersigned has executed this instrument this
27th day of March, 1997.

                                                     /s/Dr. jur. Claus Helbig
                                                     ------------------------
                                                     Dr. jur. Claus Helbig


<PAGE>

                            LIMITED POWER OF ATTORNEY

         WHEREAS, AMERICAN RE CORPORATION, a Delaware corporation (the
"Company"), will file with the Securities and Exchange Commission (the
"Commission"), under the Exchange Act of 1934 (the "Act"), an annual report on
Form 10-K, together with any and all exhibits and other documents related
thereto ("Form 10-K");

         NOW, THEREFORE, the undersigned in his capacity as a director or
officer, or both, as the case may be, of the Company does hereby appoint Robert
K. Burgess, James R. Fisher and George T. O'Shaughnessy, Jr. his true and lawful
attorneys-in-fact and with full power of substitution and resubstitution, to
execute in his name, place, and stead, in his capacity as a director or officer,
or both, as the case may be, of the Company, the Form 10-K including the
exhibits thereto and any and all amendments thereto as said attorneys-in-fact or
any of them shall deem necessary or appropriate, together with all instruments
necessary or incidental in connection therewith, to file the same or cause the
same to be filed with the Commission, and to appear before the Commission in
connection with any matter relating thereto.

         Said attorneys-in-fact shall have full power and authority to do and
perform in the name and on behalf of the undersigned, in any and all capacities,
every act whatsoever necessary or desirable in connection with such Form 10-K as
fully and for all intents and purposes as the undersigned might or could do in
person, the undersigned hereby ratifying and approving the acts of said
attorneys-in-fact.

         IN WITNESS WHEREOF, the undersigned has executed this instrument this
27th day of March, 1997.

                                                 /s/ Hans Rathnow
                                                 ----------------
                                                 Hans Rathnow


<PAGE>

                            LIMITED POWER OF ATTORNEY

         WHEREAS, AMERICAN RE CORPORATION, a Delaware corporation (the
"Company"), will file with the Securities and Exchange Commission (the
"Commission"), under the Exchange Act of 1934 (the "Act"), an annual report on
Form 10-K, together with any and all exhibits and other documents related
thereto ("Form 10-K");

         NOW, THEREFORE, the undersigned in his capacity as a director or
officer, or both, as the case may be, of the Company does hereby appoint Robert
K. Burgess, James R. Fisher and George T. O'Shaughnessy, Jr. his true and lawful
attorneys-in-fact and with full power of substitution and resubstitution, to
execute in his name, place, and stead, in his capacity as a director or officer,
or both, as the case may be, of the Company, the Form 10-K including the
exhibits thereto and any and all amendments thereto as said attorneys-in-fact or
any of them shall deem necessary or appropriate, together with all instruments
necessary or incidental in connection therewith, to file the same or cause the
same to be filed with the Commission, and to appear before the Commission in
connection with any matter relating thereto.

         Said attorneys-in-fact shall have full power and authority to do and
perform in the name and on behalf of the undersigned, in any and all capacities,
every act whatsoever necessary or desirable in connection with such Form 10-K as
fully and for all intents and purposes as the undersigned might or could do in
person, the undersigned hereby ratifying and approving the acts of said
attorneys-in-fact.

         IN WITNESS WHEREOF, the undersigned has executed this instrument this
27th day of March, 1997.

                                    /s/ Dr. jur. Hans- Jurgen Schinzler
                                    -----------------------------------
                                    Dr. jur. Hans-Jurgen Schinzler


<PAGE>

                            LIMITED POWER OF ATTORNEY

         WHEREAS, AMERICAN RE CORPORATION, a Delaware corporation (the
"Company"), will file with the Securities and Exchange Commission (the
"Commission"), under the Exchange Act of 1934 (the "Act"), an annual report on
Form 10-K, together with any and all exhibits and other documents related
thereto ("Form 10-K");

         NOW, THEREFORE, the undersigned in his capacity as a director or
officer, or both, as the case may be, of the Company does hereby appoint Robert
K. Burgess, James R. Fisher and George T. O'Shaughnessy, Jr. his true and lawful
attorneys-in-fact and with full power of substitution and resubstitution, to
execute in his name, place, and stead, in his capacity as a director or officer,
or both, as the case may be, of the Company, the Form 10-K including the
exhibits thereto and any and all amendments thereto as said attorneys-in-fact or
any of them shall deem necessary or appropriate, together with all instruments
necessary or incidental in connection therewith, to file the same or cause the
same to be filed with the Commission, and to appear before the Commission in
connection with any matter relating thereto.

         Said attorneys-in-fact shall have full power and authority to do and
perform in the name and on behalf of the undersigned, in any and all capacities,
every act whatsoever necessary or desirable in connection with such Form 10-K as
fully and for all intents and purposes as the undersigned might or could do in
person, the undersigned hereby ratifying and approving the acts of said
attorneys-in-fact.

         IN WITNESS WHEREOF, the undersigned has executed this instrument this
27th day of March, 1997.

                                                     /s/ Edward J. Noonan
                                                     --------------------
                                                     Edward J. Noonan


<PAGE>

                            LIMITED POWER OF ATTORNEY

         WHEREAS, AMERICAN RE CORPORATION, a Delaware corporation (the
"Company"), will file with the Securities and Exchange Commission (the
"Commission"), under the Exchange Act of 1934 (the "Act"), an annual report on
Form 10-K, together with any and all exhibits and other documents related
thereto ("Form 10-K");

         NOW, THEREFORE, the undersigned in his capacity as a director or
officer, or both, as the case may be, of the Company does hereby appoint Robert
K. Burgess, James R. Fisher and George T. O'Shaughnessy, Jr. his true and lawful
attorneys-in-fact and with full power of substitution and resubstitution, to
execute in his name, place, and stead, in his capacity as a director or officer,
or both, as the case may be, of the Company, the Form 10-K including the
exhibits thereto and any and all amendments thereto as said attorneys-in-fact or
any of them shall deem necessary or appropriate, together with all instruments
necessary or incidental in connection therewith, to file the same or cause the
same to be filed with the Commission, and to appear before the Commission in
connection with any matter relating thereto.

         Said attorneys-in-fact shall have full power and authority to do and
perform in the name and on behalf of the undersigned, in any and all capacities,
every act whatsoever necessary or desirable in connection with such Form 10-K as
fully and for all intents and purposes as the undersigned might or could do in
person, the undersigned hereby ratifying and approving the acts of said
attorneys-in-fact.

         IN WITNESS WHEREOF, the undersigned has executed this instrument this
27th day of March, 1997.

                                                /s/ Edward B. Jobe
                                                ------------------
                                                Edward B. Jobe