NEW YORK--(BUSINESS WIRE)--April 24, 2006--Praetorian Financial Group, a leader in specialty insurance and subsidiary of Hannover Re, today announced the appointment of Susan Rivera as President. She will report to Rod Fox, Praetorian's CEO.

"Susan Rivera is one of the most experienced and respected executives in the insurance industry," said Mr. Fox. "She has a rare talent for both management and execution, which will help Praetorian solidify its leadership role in the specialty insurance market."

Before joining Praetorian, Ms. Rivera held numerous leadership positions within the industry. Ms. Rivera served as President and CEO of ACE USA Group, one of the nation's leading property and casualty insurance groups. In addition, Ms. Rivera spent 15 years at AIG where she started as an actuary and progressed to positions of increasing responsibility, with her last assignment being President of American Home Assurance Company.

"Joining Praetorian is very exciting for me in that it offers the best of both worlds," said Ms. Rivera. "Though it is a new company, it has a solid foundation of specialty business and producer relationships that can be built upon to generate tremendous value for our customers and shareholders."

Ms. Rivera graduated from Villanova University summa cum laude with a BS degree in mathematics. She holds both an FCAS and MAAA designation.

Contacts
Corporate Communications & Investor Relations:
Praetorian Financial Group
Michael Lyons, 212/805-9811
mlyons@praetorianfinancial.com
or
Media Relations:
Signals & Strategies
Ansi Vallens, 518/392-4238
ansisvallens@taconic.net

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© Business Wire 2006