EXHIBIT 99.1

 

 

 
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| *FOR IMMEDIATE RELEASE* |     |                                                                                                                           |
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|                    | Contact: | ESG Re Limited

Margaret L. Webster

Chief Administrative Officer

353 1 675 0201 (Dublin)

e-mail:peggy.webster@esg-world.com |

 

 

#### **ESG REAPPOINTS NEW DIRECTOR**

 

                **Hamilton, Bermuda,November 8, 2001** – ESG Re Limited (Nasdaq: ESREF) announced that Mr.Tony Hobson has been appointed to the Board of Directors of the Company as anon-executive Director.  Mr. Hobson wasGroup Finance Director of Legal & General Group plc for 14 years beforeretiring in February of this year. Prior to joining Legal & General, he worked with Sperry Corporation,S.G.Warburg and Arthur Andersen. He was the senior independent director ofThames Water plc, before its acquisition by RWE and currently serves on theboards of HBOS plc and Glas Cymru, the not-for-profit entity establishedearlier this year to acquire Welsh Water. Mr. Hobson is a chartered accountant and holds degrees from theUniversity of Liverpool and the Darden Graduate School of Business at theUniversity of Virginia.

 

 

 

*ESG Re Ltd provides medical, personalaccident, credit life, disability and special risks re-insurance to insurersand selected re-insurers on a worldwide basis. The company distinguishes itselffrom its competition by offering re-insurance products and services that helpits ceding clients to manage their risks more effectively. ESG providessolutions to specific underwriting problems, actuarial support, product designand loss prevention.*

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*ESG is building on its reinsuranceexpertise by developing its direct marketing business.  ESG will deliver innovative businessopportunities and client focused solutions to its affinity partners usingdistribution methods such as direct mail, telemarketing and bancassurance*

 

Uncertaintiesrelated to forward looking statements: Certain statements in this Press Releaseconstitute “forward looking statements” within the meaning of Section 27A ofthe Securities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended. Such forward-looking statements involve knownand unknown risks, uncertainties and other factors, which may cause the actualresults, performance or achievements of the company to be materially differentfrom any future results, performance or achievements expressed or implied bysuch forward-looking statements. Such factors include, among other things, thefollowing: The Company’s lack of history as a reinsurer and its increased scopeof business: the company’s dependence on key clients; the volatility andunpredictability of the risks the company insures; the cyclical nature of thereinsurance market; competition and the company’s evaluation by insurancerating agencies; changes in tax laws and regulations; foreign currencyfluctuation; and the adequacy of loss reserves. A further discussion of factorsthat could affect the Company’s results is included in reports filed by theCompany with the Securities and Exchange Commission and in the Company’sProspectus dated December 12, 1997.