Reliance National Licensed in Brazil

Reliance National Insurance Co.ompany%> says it has received government approval through one of its affiliates to operate a multiline insurance company in Brazil. Based in São Paulo, the new company, Reliance National Brasil Seguros S.A., will provide specialty property and casualty coverages, including directors & officers liability insurance, professional liability insurance, and fidelity and surety bonds, as well as group life and credit life insurance products. Reliance has had a representative office in São Paulo since September of 1998.

Reliance National President and Chief Executive Officer Terry Van Gilder said, "Brazil is the largest insurance market in Latin America and an important addition to our growing network in the region, which includes operations in Argentina and Mexico. We have already established a presence in Brazil and have formed relationships that will give us a competitive advantage in the marketplace. Our alliance with Banco BMC S.A., a 60-year-old financial institution with 11 offices in Brazil, will enable us to offer a wide range of insurance products and services to their commercial and retail customer base.

"We also will be working closely with the country's major insurance brokers to bring our specialized expertise to the local market and serve multinational clients that have operations in Brazil," Van Gilder added.

Alessandro Jarzynski will serve as general manager of Reliance National Brasil Seguros S.A. He had been manager of Reliance National's representative office in Brazil since it opened in 1998. Prior to joining Reliance National, Jarzynski was casualty underwriting manager for CIGNA Argentina in Buenos Aires. Previously, he had held underwriting positions at CIGNA's operations in Brazil and Puerto Rico.

Born and raised in Brazil, Jarzynski holds a B.S. degree from the Instituto Metodista de Ensino Superior in São Paulo. Jarzynski will report to Anthony Zinicola, Reliance National first vice president, Latin American operations.