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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2 )*
---
20th Century Industries
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(Name of Issuer)
Common Stock, Without Par Value
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(Title of Class of Securities)
901272 20 3
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(CUSIP Number)
Florence Davis, General Counsel
American International Group, Inc.
70 Pine Street, NYC, NY 10270 (212) 770-7000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 9, 1998
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(Date of Event which Requires Filing of this Statement)
If a filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
NOTE: Six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom
copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP NO. 901272 20 3
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
American International Group, Inc.
IRS No. 13-2592361
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in the State of Delaware
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7. SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 36,754,369
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
36,754,369
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
36,754,369
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.0%
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14. TYPE OF REPORTING PERSON
HC, CO
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-2-
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CUSIP NO. 901272 20 3
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
American Home Assurance Company
IRS No. 13-5124990
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in the State of New York
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7. SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 9,322,713
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
9,322,713
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
9,322,713
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.7%
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14. TYPE OF REPORTING PERSON
IC, CO
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CUSIP NO. 901272 20 3
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Commerce & Industry Insurance Company
IRS No. 31-1938623
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in the State of New York
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7. SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 5,414,828
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
5,414,828
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
5,414,828
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%
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14. TYPE OF REPORTING PERSON
IC, CO
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CUSIP NO. 901272 20 3
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
New Hampshire Insurance Company
IRS No. 02-0172170
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in the State of Pennsylvania
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7. SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 5,414,828
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
5,414,828
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
5,414,828
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.2%
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14. TYPE OF REPORTING PERSON
IC, CO
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-5-
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CUSIP NO. 901272 20 3
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
National Union Fire Insurance Company of Pittsburgh, Pa.
IRS No. 25-0687550
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC, OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Incorporated in the State of Pennsylvania
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7. SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY 16,602,000
EACH -----------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH -----------------------------------------------------
10. SHARED DISPOSITIVE POWER
16,602,000
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
16,602,000
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.0%
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14. TYPE OF REPORTING PERSON
IC, CO
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ITEM 1. SECURITY AND ISSUER.
This statement amends the statement on Schedule 13D dated December 16,
1994, as amended by Amendment No. 1 to Schedule 13D dated March 23, 1995
("Schedule 13D"), previously filed by American International Group, Inc., a
Delaware corporation ("AIG"), relating to the common stock, without par value
("Common Stock"), of 20th Century Industries, a California corporation (the
"Company"). The principal executive offices of the Company are located at 6301
Owensmouth Avenue, Woodland Hills, California 91367.
Each capitalized term used in this statement which is defined in the
Schedule 13D shall have the meaning ascribed in the Schedule 13D.
On January 9, 1998, the Board of Directors of the Company resolved that
Salomon Smith Barney be authorized to explore the feasibility of strategic
alternatives that may be available to the Company to protect and enhance
shareholder value, including, without limitation, a business combination with
AIG or other third parties. Mr. Robert Sandler, one of AIG's two representatives
serving on the Company's Board of Directors, abstained from voting with respect
to such resolution, and Mr. Howard Smith, AIG's other representative, was absent
from the meeting. However, Mr. Sandler communicated to the Board of Directors
that, while AIG would be willing to discuss the possibility of its acquiring the
Company, AIG was not currently interested in selling its interests in the
Company, or in a sale of the Company, to a third party. In response to prior
inquiries of the Company's Board of Directors, AIG and the Company have from
time to time discussed the Company's and AIG's relationship, including the
possible acquisition of the Company by AIG, and such discussions may occur
hereafter.
AIG from time to time may acquire additional shares of Common Stock,
including in such amounts that AIG may obtain ownership of more than 50% of the
outstanding shares of Common Stock and thereby control the Company. Such
acquisitions may be accomplished through one or more of the following methods:
purchases of shares of Common Stock in the open market (on the New York Stock
Exchange ("NYSE") or other exchanges or over-the-counter), in privately
negotiated transactions or in other secondary transactions, including tender
offers ("Secondary Market Purchases"); conversions of the Series A Preferred
Stock into Common Stock; exercises of the Series A Warrants to obtain Common
Stock; and a negotiated agreement with the Company to acquire all of the
outstanding shares of Common Stock, by merger or otherwise. Any such purchases,
conversions, exercises or negotiated agreement will depend upon AIG's evaluation
at such time of the Company's operating results and prospects, the market price
for the Common Stock, the purchase price applicable to such a negotiated
agreement or Secondary Market Purchases and other factors, and there can be no
assurance that any such purchase, conversion, exercise or agreement will occur
or, if they occur, the timing or
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extent thereof. The Transfer Restrictions in the Company's Restated Articles of
Incorporation generally restrict Secondary Market Purchases and exercises of
Warrants prior to February 16, 1998, subject to various exceptions contained
therein.
AIG would file notification(s) under the Hart-Scott-Rodino Antitrust
Improvements Act in order to permit the foregoing to the extent necessary. AIG
would make any negotiated acquisition of the Company or Secondary Market
Purchases itself.
ITEM 2. IDENTITY AND BACKGROUND.
(a) through (c). This statement is filed by AIG, on behalf of itself
and the AIG Subs.
AIG is a holding company which through its subsidiaries is primarily
engaged in a broad range of insurance and insurance-related activities and
financial services in the United States and abroad. AIG's primary activities
through its subsidiaries include both general and life insurance operations.
Each of the AIG Subs is a multiple line insurance company which writes
substantially all lines of property and casualty insurance in all states of the
United States and abroad. The principal executive offices of AIG and each of the
AIG Subs are located at 70 Pine Street, New York, New York 10270.
A list of the directors and executive officers ("Covered Persons") of
AIG, American Home, Commerce & Industry, National Union, New Hampshire, SICO,
The Starr Foundation and Starr, their business addresses and principal
occupations is attached hereto as Exhibit A. Each of the Covered Persons is a
citizen of the United States, except Messrs. Johnson, Manton, Milton, Sullivan
and Tse, who are British subjects, Messrs. Cohen and McMillan, who are Canadian
citizens, and Mr. Sakai, who is a Japanese citizen.
(d) and (e). During the last five years, none of AIG, SICO, The Starr
Foundation, Starr, American Home, Commerce & Industry, National Union and New
Hampshire, or any of the Covered Persons, has (i) been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or (ii) been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violations with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
(a)-(b) If executed on the NYSE or other exchanges or in the
over-the-counter market, the purchase prices for Secondary Market Purchases will
be market prices when executed. With respect to any privately negotiated
-8-
transactions, the purchase price and form of consideration will be as negotiated
between AIG and the Company or, if applicable, the seller. With respect to any
tender offers, the purchase price will be as specified in the tender offer
materials.
AIG would pay cash for Secondary Market Purchases. The aggregate amount
of funds necessary to effectuate Secondary Market Purchases is not determinable,
as it is dependent upon (i) the purchase prices discussed above and (ii) the
number of shares of Common Stock purchased. AIG would obtain funding for any
Secondary Market Purchases internally from working capital or, if external
funding were used, from the capital markets in the form of commercial paper or
medium term notes.
In the case of conversion of the Series A Preferred Stock, the
consideration for the shares of Common Stock obtained by AIG would be the Series
A Preferred Stock. Each share of Series A Preferred Stock is convertible into
approximately 88.26 shares of Common Stock (equivalent to a conversion price of
$11.33 per share). In the case of exercise of the Series A Warrants, the cash
consideration to the Company would be $9.10 per share or, assuming full exercise
of the Series A Warrants, $145.6 million. The aggregate consideration for the
Common Stock underlying the Series A Warrants may be obtained internally from
working capital or from external funding as indicated above with respect to
Secondary Market Purchases.
ITEM 4. PURPOSE OF TRANSACTION.
(a). See discussion in Item 1.
(b) through (j). AIG currently has no plans or proposals to change the
present Board of Directors or management of the Company or to change the
Company's dividend policy, capitalization, certificate of incorporation or
by-laws; however, AIG may from time to time reevaluate the desirability of
proposing changes to the composition of the Company's Board of Directors to
increase AIG's representation thereon. AIG currently has no plans or proposals
with respect to a reorganization, liquidation, sale of material assets or
similar transaction involving the Company. See Item 1 for discussion concerning
the possibility of AIG's acquisition of the Company by merger or otherwise. AIG
believes that any Secondary Market Purchases it may make of the Company's Common
Stock will not result in delisting of the shares of Common Stock from the New
York Stock Exchange.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a). Each AIG Sub's current ownership
-9-
interests in the Company and the Common Stock are as shown in the following
table:
Number of
Shares of
Common Stock Percentage of
Obtainable Fully Diluted
AIG Sub Upon Shares of
(and state Conversion/ Common Stock
of domicile) Number of Shares Exercise Outstanding (1)
------------ ---------------- ------------ ---------------
American Home 102,250 shares of
Assurance Company Series A 9,024,713 10.32%
(New York) Preferred Stock(2)
298,000 shares of 298,000 0.34
Common Stock(4)
Commerce & 61,350 shares of
Industry Insurance Series A 5,414,828 6.19
Company Preferred Stock(2)
(New York)
New Hampshire 61,350 shares of 5,414,828 6.19
Insurance Company Series A
(Pennsylvania) Preferred Stock(2)
National Union 16 Million Series
Fire Insurance A Warrants(3) 16,000,000 18.29
Company of
Pittsburgh, Pa. 602,000 shares(5)
(Pennsylvania) of Common Stock 602,000 0.69
---------- --------
Total Common Shares 36,754,369 42.02
- -------------
(1) Based on the number of shares of Common Stock outstanding as of October 23,
1997 (51,629,861 shares) as reported by the Company in its Quarterly Report
on Form 10-Q for the nine months ended September 30, 1997, as adjusted to
give effect to the issuance of shares of Common Stock issuable on full
conversion of the 224,950 shares of Series A Preferred Stock and on full
exercise of the 16 million Series A Warrants.
(2) The aggregate number of shares of Series A Preferred Stock owned by the AIG
Subs is 224,950, representing 200,000 shares purchased at the time of the
initial investment in December 1994, 20,000 shares purchased in March 1995
when the Investment Agreement was amended and 4,950 shares issued as a
pay-in-kind dividend by the Company in 1995. To date, the AIG Subs have not
converted any shares of Series A Preferred Stock. The aggregate number of
shares of Common Stock obtainable upon full conversion is 19,854,369 (or
22.69% of fully converted shares).
-10-
(3) The 16 million Series A Warrants were purchased at the time of the initial
investment in December 1994 and to date the AIG Subs have not exercised any
Series A Warrants.
(4) Purchased prior to November, 1991.
(5) Purchased prior to June, 1994.
(b) AIG and each AIG Sub share voting and dispositive power as to the
securities owned by such AIG Sub.
(c). AIG, American Home, Commerce and Industry, National Union, New
Hampshire, SICO, The Starr Foundation and Starr, and, to the best of each of
their knowledge, the Covered Persons, have not engaged in any transactions in
the Common Stock within the past 60 days.
(d) and (e). Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS & RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Contracts, arrangements, understandings and relationships with respect
to the securities of the Company consist of the Investment Agreement, the Series
A Warrant, the Certificate of Determination, the Certificate of Amendment, the
By-Laws, the Quota Share Agreements and the Registration Rights Agreement and
the Amendment, each of which was attached as an exhibit to the Schedule 13D. All
of such contracts, arrangements, understandings and relationships are
incorporated herein in their entirety by reference.
In addition, Section 5.2 of the Investment Agree ment provided that AIG
and the Company would enter into one or more joint ventures in the form of a
separate subsidiary or subsidiaries to engage in the Company's business outside
of California. The Company and AIG established one such venture in Arizona, 20th
Century Insurance Company of Arizona. AIG understands that in 1997 the Company
decided to proceed to engage in business outside California without AIG as a
partner.
As of February 15, 1997, the Company began offering renewal of policies
for 68,000 homeowner insurance customers. The Company is complying with
California's requirement to offer earthquake coverage to those customers through
a separate residential earthquake insurance policy underwritten and issued by
American Home Assurance Company, one of the AIG Subs.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
(A) List of Covered Persons
-11-
(B) Exhibits A through F and H to the Schedule 13D dated December 16, 1994
previously filed by American International Group, Inc., a Delaware
corporation ("AIG"), relating to the common stock, without par value
("Common Stock"), of 20th Century Industries, a California corporation
(the "Company") are incorporated herein by reference.
(C) Exhibit A to Amendment No. 1 to Schedule 13D dated March 23, 1995
previously filed by AIG relating to the Common Stock of the Company is
incorporated herein by reference.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 20, 1998
AMERICAN INTERNATIONAL GROUP, INC.
By: /s/ Kathleen E. Shannon
-----------------------------------------
AMERICAN HOME ASSURANCE COMPANY
By: /s/ Elizabeth M. Tuck
-----------------------------------------
COMMERCE AND INDUSTRY INSURANCE COMPANY
By: /s/ Elizabeth M. Tuck
-----------------------------------------
NATIONAL UNION FIRE INSURANCE COMPANY
OF PITTSBURGH, PA.
By: /s/ Elizabeth M. Tuck
-----------------------------------------
NEW HAMPSHIRE INSURANCE COMPANY
By: /s/ Elizabeth M. Tuck
-----------------------------------------
-13-
EXHIBIT INDEX
--------------
(A) List of Covered Persons
(B) Exhibits A through F and H to the Schedule 13D dated December 16, 1994
previously filed by American International Group, Inc., a Delaware
corporation ("AIG"), relating to the common stock, without par value
("Common Stock"), of 20th Century Industries, a California corporation
(the "Company") are incorporated herein by reference.
(C) Exhibit A to Amendment No. 1 to Schedule 13D dated March 23, 1995
previously filed by AIG relating to the Common Stock of the Company is
incorporated herein by reference.
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EXHIBIT A
AMERICAN INTERNATIONAL GROUP, INC.
DIRECTORS
M. Bernard Aidinoff Sullivan & Cromwell
125 Broad Street
New York, New York 10004
Lloyd M. Bentsen Verner Liipfert Bernhard McPherson
& Hand
2600 Texas Commerce Tower
600 Travis Street
Suite 2600
Houston, Texas 77002
Pei-yuan Chia 298 Bedford - Banksville Road
Bedford, New York 10506
Marshall A. Cohen Cassels, Brock & Blackwell
40 King Street West
20th Fl.
Toronto, Ontario M5H 3C2
Barber B. Conable, Jr. P.O. Box 218
Alexander, New York 14005
Martin S. Feldstein National Bureau of Economic
Research, Inc.
1050 Massachusetts Avenue
Cambridge, Massachusetts 02138
Leslie L. Gonda International Lease Finance
Corporation
1999 Avenue of the Stars
Los Angeles, California 90067
Evan G. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
M. R. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
-1-
Carla A. Hills Hills & Company
1200 19th Street, N.W. - 5th Fl.
Washington, DC 20036
Frank J. Hoenemeyer 7 Harwood Drive
Madison, New Jersey 07940
Edward E. Matthews American International Group, Inc.
70 Pine Street
New York, New York 10270
Dean P. Phypers 220 Rosebrook Road
New Canaan, Connecticut 06840
Howard I. Smith American International Group, Inc.
70 Pine Street
New York, New York 10270
Thomas R. Tizzio American International Group, Inc.
70 Pine Street
New York, New York 10270
Edmund S.W. Tse American International Assurance
Co., Ltd.
1 Stubbs Road
Hong Kong
Frank G. Wisner American International Group, Inc.
70 Pine Street
New York, New York 10270
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AMERICAN INTERNATIONAL GROUP, INC.
EXECUTIVE OFFICERS
M.R. Greenberg Chairman & Chief Executive Officer
70 Pine Street
New York, New York 10270
Thomas R. Tizzio Senior Vice Chairman - General
70 Pine Street Insurance
New York, New York 10270
Edward E. Matthews Vice Chairman - Investments &
70 Pine Street Financial Services
New York, New York 10270
Edmund S.W. Tse Vice Chairman - Life Insurance
American International
Assurance Co., Ltd.
1 Stubbs Road
Hong Kong
Frank G. Wisner Vice Chairman - External Affairs
70 Pine Street
New York, New York 10270
Evan G. Greenberg President & Chief Operating Officer
70 Pine Street
New York, New York 10270
Edwin A.G. Manton Senior Advisor
70 Pine Street
New York, New York 12070
John J. Roberts Senior Advisor
70 Pine Street
New York, New York 10270
Ernest E. Stempel Senior Advisor
70 Pine Street
New York, New York 10270
Robert B. Sandler Executive Vice President - Senior
70 Pine Street Casualty Actuary & Senior Claims Officer
New York, New York 10270
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Howard I. Smith Executive Vice President, Chief
70 Pine Street Financial Officer & Comptroller
New York, New York 10270
Lawrence W. English Senior Vice President - Administration
70 Pine Street
New York, New York 10270
Axel I. Freudmann Senior Vice President - Human Resources
72 Wall Street
New York, New York 10270
Win J. Neuger Senior Vice President & Chief
70 Pine Street Investment Officer
New York, New York 10270
Martin J. Sullivan Senior Vice President -
70 Pine Street Foreign General Insurance
New York, New York 10270
Florence A. Davis Vice President & General Counsel
70 Pine Street
New York, New York 10270
William N. Dooley Vice President & Treasurer
70 Pine Street
New York, New York 10270
Robert E. Lewis Vice President & Chief Credit Officer
70 Pine Street
New York, New York 10270
Frank Petralito II Vice President & Director of Taxes
70 Pine Street
New York, New York 10270
Kathleen E. Shannon Vice President, Secretary &
70 Pine Street Associate General Counsel
New York, New York 10270
John T. Wooster, Jr. Vice President - Communications
72 Wall Street
New York, New York 10270
-4-
STARR INTERNATIONAL COMPANY, INC.
EXECUTIVE OFFICERS & DIRECTORS
Houghton Freeman 1880 Mountain Road, #14
Director Stowe, Vermont 05672
Evan G. Greenberg 70 Pine Street
Director New York, New York 10270
Maurice R. Greenberg 70 Pine Street
Director & Chairman of New York, New York 10270
the Board
Joseph C.H. Johnson American International Building
Director, President Richmond Road
& Treasurer Pembroke 543 Bermuda
Edwin A.G. Manton 70 Pine Street
Director New York, New York 10270
Edward E. Matthews 70 Pine Street
Director New York, New York 10270
L. Michael Murphy American International Building
Director, Vice President Richmond Road
& Secretary Pembroke 543 Bermuda
John J. Roberts 70 Pine Street
Director New York, New York 10270
Robert M. Sandler 70 Pine Street
Director New York, New York 10270
Howard I. Smith 70 Pine Street
Director New York, New York 10270
Ernest E. Stempel 70 Pine Street
Director New York, New York 10270
Thomas R. Tizzio 70 Pine Street
Director New York, New York 10270
Edmund S.W. Tse 1, Stubbs Road
Director Hong Kong
-5-
THE STARR FOUNDATION
EXECUTIVE OFFICERS & DIRECTORS
M.R. Greenberg 70 Pine Street
Director and Chairman New York, New York 10270
T.C. Hsu 70 Pine Street
Director and President New York, New York 10270
Marion Breen 70 Pine Street
Director and Vice President New York, New York 10270
John J. Roberts 70 Pine Street
Director New York, New York 10270
Ernest E. Stempel 70 Pine Street
Director New York, New York 10270
Houghton Freeman 1880 Mountain Road, #14
Director Stowe, Vermont 05672
Edwin A.G. Manton 70 Pine Street
Director New York, New York 10270
Gladys Thomas 70 Pine Street
Vice President New York, New York 10270
Frank Tengi 70 Pine Street
Treasurer New York, New York 10270
Ida Galler 70 Pine Street
Secretary New York, New York 10270
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C.V. STARR & CO., INC.
EXECUTIVE OFFICERS & DIRECTORS
Houghton Freeman 1880 Mountain Road, #14
Director Stowe, Vermont 05672
E.G. Greenberg 70 Pine Street
Director & Executive Vice New York, New York 10270
President
Maurice R. Greenberg 70 Pine Street
Director, President & New York, New York 10270
Chief Executive Officer
Edwin A.G. Manton 70 Pine Street
Director New York, New York 10270
Edward E. Matthews 70 Pine Street
Director, Senior Vice New York, New York 10270
President & Secretary
John J. Roberts 70 Pine Street
Director New York, New York 10270
Robert M. Sandler 70 Pine Street
Director & Vice President New York, New York 10270
Howard I. Smith 70 Pine Street
Director & Senior Vice New York, New York 10270
President
Ernest E. Stempel 70 Pine Street
Director New York, New York 10270
Thomas R. Tizzio 70 Pine Street
Director & Senior Vice New York, New York 10270
President
Edmund S.W. Tse 1, Stubbs Road
Director & Senior Vice Hong Kong
President
Gary Nitzsche 70 Pine Street
Treasurer New York, New York 10270
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AMERICAN HOME ASSURANCE COMPANY
DIRECTORS
Michael J. Castelli American Home Assurance Company
70 Pine Street
New York, New York 10270
Charles Dangelo American International Group, Inc.
70 Pine Street
New York, New York 10270
Florence A. Davis American International Group, Inc.
70 Pine Street
New York, New York 10270
Evan G. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
M.R. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
Larry D. Hollen American International Group, Inc.
70 Pine Street
New York, New York 10270
John G. Hughes American Home Assurance Company
70 Pine Street
New York, New York 10270
David M. Hupp American Home Assurance Company
70 Pine Street
New York, New York 10270
Edwin A.G. Manton American International Group, Inc.
70 Pine Street
New York, New York 10270
Edward E. Matthews American International Group, Inc.
70 Pine Street
New York, New York 10270
Christian M. Milton American International Group, Inc.
70 Pine Street
New York, New York 10270
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Michael Mitrovic American International Group, Inc.
70 Pine Street
New York, New York 10270
Kristian P. Moor American International Group, Inc.
70 Pine Street
New York, New York 10270
Win J. Neuger American International Group, Inc.
70 Pine Street
New York, New York 10270
Takaki Sakai A.I.U. K.K.
P.O. Box 951
Tokyo, Japan
Robert B. Sandler American International Group, Inc.
70 Pine Street
New York, New York 10270
B. Michael Schlenke American Home Assurance Company
70 Pine Street
New York, New York 10270
Howard I. Smith American International Group, Inc.
70 Pine Street
New York, New York 10270
Thomas R. Tizzio American International Group, Inc.
70 Pine Street
New York, New York 10270
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AMERICAN HOME ASSURANCE COMPANY
EXECUTIVE OFFICERS
Thomas R. Tizzio Chairman of the Board
70 Pine Street
New York, New York 10270
B. Michael Schlenke Vice Chairman
70 Pine Street
New York, New York 10270
Larry D. Hollen President
70 Pine Street
New York, New York 10270
Timothy P. Mitchell Executive Vice President
70 Pine Street
New York, New York 10270
Kristian P. Moor Executive Vice President
70 Pine Street
New York, New York 10270
Michael J. Castelli Senior Vice President & Treasurer
70 Pine Street
New York, New York 10270
Frank H. Douglas, Jr. Senior Vice President & Actuary
70 Pine Street
New York, New York 10270
David M. Hupp Senior Vice President
70 Pine Street
New York, New York 10270
William R. Jacobi Senior Vice President
70 Pine Street
New York, New York 10270
Vincent J. Masucci Senior Vice President
777 S. Figueroa Street
18th Floor
Los Angeles, California 90017
Edward E. Matthews Senior Vice President
70 Pine Street
New York, New York 10270
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John F. Schumacher Senior Vice President
70 Pine Street
New York, New York 10270
David J. Walsh Senior Vice President & General Counsel
70 Pine Street
New York, New York 10270
Mark T. Willis Senior Vice President
500 W. Madison Street
Chicago, Illinois 60661
Robert Beier Vice President
70 Pine Street
New York, New York 10270
John J. Blumenstock Vice President & Assistant Comptroller
70 Pine Street
New York, New York 10270
Lawrence W. Carlstrom Vice President
70 Pine Street
New York, New York 10270
John G. Colona Vice President
70 Pine Street
New York, New York 10270
Robert K. Conry Vice President
70 Pine Street
New York, New York 10270
Brian S. Frisch Vice President & Assistant Comptroller
70 Pine Street
New York, New York 10270
Kumar Gursahaney Vice President & Comptroller
70 Pine Street
New York, New York 10270
Harold S. Jacobowitz Vice President
70 Pine Street
New York, New York 10270
Dee R. Klock Vice President
70 Pine Street
New York, New York 10270
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Gary A. McMillan Vice President
70 Pine Street
New York, New York 10270
Robert B. Meyer Vice President
70 Pine Street
New York, New York 10270
Christian M. Milton Vice President
70 Pine Street
New York, New York 10270
Win J. Neuger Vice President
70 Pine Street
New York, New York 10270
David B. Pinkerton Vice President
70 Pine Street
New York, New York 10270
Elizabeth M. Tuck Secretary
70 Pine Street
New York, New York 10270
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COMMERCE & INDUSTRY INSURANCE COMPANY
DIRECTORS
Joseph L. Boren American International Group, Inc.
70 Pine Street
New York, New York 10270
Michael J. Castelli American Home Assurance Company
70 Pine Street
New York, New York 10270
Florence A. Davis American International Group, Inc.
70 Pine Street
New York, New York 10270
Evan G. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
M.R. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
John G. Hughes American International Group, Inc.
70 Pine Street
New York, New York 10270
David M. Hupp American Home Assurance Company
70 Pine Street
New York, New York 10270
Kevin H. Kelley Lexington Insurance Company
200 State Street
Boston, Massachusetts 02109
Edwin A.G. Manton American International Group, Inc.
70 Pine Street
New York, New York 10270
Edward E. Matthews American International Group, Inc.
70 Pine Street
New York, New York 10270
Michael Mitrovic American International Group, Inc.
70 Pine Street
New York, New York 10270
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Win J. Neuger American International Group, Inc.
70 Pine Street
New York, New York 10270
B. Michael Schlenke American International Group, Inc.
70 Pine Street
New York, New York 10270
Howard I. Smith American International Group, Inc.
70 Pine Street
New York, New York 10270
Thomas R. Tizzio American International Group, Inc.
70 Pine Street
New York, New York 10270
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COMMERCE & INDUSTRY INSURANCE COMPANY
EXECUTIVE OFFICERS
Thomas R. Tizzio Chairman of the Board
70 Pine Street & Chief Executive Officer
New York, New York 10270
Joseph L. Boren President
70 Pine Street
New York, New York 10270
Michael J. Castelli Senior Vice President & Treasurer
70 Pine Street
New York, New York 10270
Robert K. Conry Senior Vice President
70 Pine Street
New York, New York 10270
Frank H. Douglas, Jr. Senior Vice President
70 Pine Street
New York, New York 10270
David M. Hupp Senior Vice President
70 Pine Street
New York, New York 10270
Vincent J. Masucci Senior Vice President
777 S. Figueroa Street
18th Floor
Los Angeles, California 90017
Edward E. Matthews Senior Vice President - Finance
70 Pine Street
New York, New York 10270
David J. Walsh Senior Vice President
70 Pine Street & General Counsel
New York, New York 10270
Robert Beier Vice President
70 Pine Street
New York, New York 10270
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John J. Blumenstock Vice President & Assistant
70 Pine Street Comptroller
New York, New York 10270
Kenneth B. Cornell Vice President
70 Pine Street
New York, New York 10270
Brian S. Frisch Vice President & Assistant
70 Pine Street Comptroller
New York, New York 10270
Kumar Gursahaney Vice President & Comptroller
70 Pine Street
New York, New York 10270
John G. Hughes Vice President
70 Pine Street
New York, New York 10270
Shaun E. Kelly Vice President
70 Pine Street
New York, New York 10270
Dee R. Klock Vice President
70 Pine Street
New York, New York 10270
Robert B. Meyer Vice President
70 Pine Street
New York, New York 10270
Christian M. Milton Vice President
70 Pine Street
New York, New York 10270
Clifford P. Moore Vice President
70 Pine Street
New York, New York 10270
Win J. Neuger Vice President
70 Pine Street
New York, New York 10270
David B. Pinkerton Vice President
70 Pine Street
New York, New York 10270
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Elizabeth M. Tuck Secretary
70 Pine Street
New York, New York 10270
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NEW HAMPSHIRE INSURANCE COMPANY
DIRECTORS
Michael J. Castelli American International Group, Inc.
70 Pine Street
New York, New York 10270
Evan G. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
M.R. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
Edwin A.G. Manton American International Group, Inc.
70 Pine Street
New York, New York 10270
Edward E. Matthews American International Group, Inc.
70 Pine Street
New York, New York 10270
Win J. Neuger American International Group, Inc.
70 Pine Street
New York, New York 10270
Theodore J. Rupley American International Group, Inc.
70 Pine Street
New York, New York 10270
Robert M. Sandler American International Group, Inc.
70 Pine Street
New York, New York 10270
Howard I. Smith American International Group, Inc.
70 Pine Street
New York, New York 10270
Thomas R. Tizzio American International Group, Inc.
70 Pine Street
New York, New York 10270
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NEW HAMPSHIRE INSURANCE COMPANY
EXECUTIVE OFFICERS
Theodore J. Rupley Chairman of the Board & President
70 Pine Street
New York, New York 10270
Michael J. Castelli Senior Vice President & Treasurer
70 Pine Street
New York, New York 10270
Alan G. Driscoll Senior Vice President
70 Pine Street
New York, New York 10270
Robert Beier Vice President
70 Pine Street
New York, New York 10270
John J. Blumenstock Vice President & Assistant Comptroller
70 Pine Street
New York, New York 10270
John G. Colona Vice President
70 Pine Street
New York, New York 10270
Frank H. Douglas, Jr. Vice President
70 Pine Street
New York, New York 10270
Thomas M. Flaherty Vice President
70 Pine Street
New York, New York 10270
Richard G. Friesenhahn Vice President
70 Pine Street
New York, New York 10270
Brian S. Frisch Vice President & Assistant Comptroller
70 Pine Street
New York, New York 10270
Kumar Gursahaney Vice President & Comptroller
70 Pine Street
New York, New York 10270
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Dee R. Klock Vice President
70 Pine Street
New York, New York 10270
Anthony J. Kyasky Vice President
70 Pine Street
New York, New York 10270
Edward E. Matthews Vice President
70 Pine Street
New York, New York 10270
Robert B. Meyer Vice President
70 Pine Street
New York, New York 10270
Christian M. Milton Vice President
70 Pine Street
New York, New York 10270
Win J. Neuger Vice President
70 Pine Street
New York, New York 10270
David B. Pinkerton Vice President
70 Pine Street
New York, New York 10270
Marc D. Vivori Vice President
70 Pine Street
New York, New York 10270
David J. Walsh Vice President & General Counsel
70 Pine Street
New York, New York 10270
Elizabeth M. Tuck Secretary
70 Pine Street
New York, New York 10270
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NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA
DIRECTORS
Michael J. Castelli American Home Assurance Company
70 Pine Street
New York, New York 10270
Charles Dangelo American International Group, Inc.
70 Pine Street
New York, New York 10270
Evan G. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
M.R. Greenberg American International Group, Inc.
70 Pine Street
New York, New York 10270
John G. Hughes American Home Assurance Company
70 Pine Street
New York, New York 10270
David M. Hupp American Home Assurance Company
70 Pine Street
New York, New York 10270
Edwin A.G. Manton American International Group, Inc.
70 Pine Street
New York, New York 10270
Edward E. Matthews American International Group, Inc.
70 Pine Street
New York, New York 10270
Christian M. Milton American International Group, Inc.
70 Pine Street
New York, New York 10270
Michael Mitrovic American International Group, Inc.
70 Pine Street
New York, New York 10270
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Kristian P. Moor American International Group, Inc.,
70 Pine Street
New York, New York 10270
Win J. Neuger American International Group, Inc.
70 Pine Street
New York, New York 10270
Robert M. Sandler American International Group, Inc.
70 Pine Street
New York, New York 10270
B. Michael Schlenke American International Group, Inc.
70 Pine Street
New York, New York 10270
Thomas R. Tizzio American International Group, Inc.
70 Pine Street
New York, New York 10270
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NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA
EXECUTIVE OFFICERS
Thomas R. Tizzio Chairman of the Board
70 Pine Street
New York, New York 10270
Kristian P. Moor President
70 Pine Street
New York, New York 10270
B. Michael Schlenke Executive Vice President
70 Pine Street
New York, New York 10270
Lawrence W. Calstrom Senior Vice President
70 Pine Street
New York, New York 10270
Michael J. Castelli Senior Vice President
70 Pine Street
New York, New York 10270
Frank H. Douglas Jr. Senior Vice President
70 Pine Street
New York, New York 10270
David M. Hupp Senior Vice President
70 Pine Street
New York, New York 10270
Vincent J. Masucci Senior Vice President
777 S. Figueroa Street
18th Floor
Los Angeles, California 90017
Edward E. Matthews Senior Vice President
70 Pine Street
New York, New York 10270
Christian M. Milton Senior Vice President
70 Pine Street
New York, New York 10270
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Michael Mitrovic Senior Vice President
70 Pine Street
New York, New York 10270
David J. Walsh Senior Vice President
70 Pine Street & General Counsel
New York, New York 10270
Mark T. Willis Senior Vice President
500 W. Madison Street
Chicago, Illinois 60661
Robert Beier Vice President
70 Pine Street
New York, New York 10270
John J. Blumenstock Vice President & Assistant
70 Pine Street Comptroller
New York, New York 10270
John G. Colona Vice President
70 Pine Street
New York, New York 10270
Robert K. Conry Vice President
70 Pine Street
New York, New York 10270
Gregory J. Flood Vice President
70 Pine Street
New York, New York 10270
Brian S. Frisch Vice President & Assistant
70 Pine Street Comptroller
New York, New York 10270
Kumar Gursahaney Vice President
70 Pine Street & Comptroller
New York, New York 10270
Harold S. Jacobowitz Vice President
70 Pine Street
New York, New York 10270
Dee R. Klock Vice President
70 Pine Street
New York, New York 10270
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Donn R. Kolbeck Vice President
70 Pine Street
New York, New York 10270
Louis Lubrano Vice President
70 Pine Street
New York, New York 10270
Robert B. Meyer Vice President
70 Pine Street
New York, New York 10270
Lena Mkhitarian Vice President
70 Pine Street
New York, New York 10270
Christian M. Milton Vice President
70 Pine Street
New York, New York 10270
Win J. Neuger Vice President
70 Pine Street
New York, New York 10270
Robert E. Omahne Vice President
70 Pine Street
New York, New York 10270
David B. Pinkerton Vice President
70 Pine Street
New York, New York 10270
Elizabeth M. Tuck Secretary
70 Pine Street
New York, New York 10270
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