percent equity stake in insurance managers Commercial Risk Partners, for $30 million.

Western General now teams up with top French reinsurer, SCOR S.A. and its SCOR US subsidiary which jointly hold the bulk of the remaining shares in Commercial Risk. SCOR US was a founding shareholder.

Western General is part of the Western International Financial Group Ltd.

which is owned in part by trusts primarily for the benefit of certain members of the Chicago, Illinois Pritzker family.

President and CEO of Commercial Risk, Mr. Daniel G. Marren, commented after the deal was closed: "The expansion of our list of shareholders with the addition of such a sophisticated company in the financial services area is a tremendous vote of confidence in what we have accomplished since our formation in 1992.

"And we are pleased that Western General has made this $30-million commitment to the continued growth and success of Commercial Risk. This will mean more capacity for us for larger transactions.'' The first full year of operations for the company were completed last year, with total insurance volume exceeding $90 million. In just over two years, Commercial Risk's assets have grown from $50 million to $250 million.

SCOR S.A. and Commercial Risk chairman, Mr. Patrick Peugeot said: "We are pleased to have Western General join us as a substantial equity partner in Commercial Risk.

"The combination of our resources is part of our ongoing strategy to build an even greater presence for Commercial Risk, in a marketplace that combines traditional underwriting risk-taking with the financial elements developed in the finite reinsurance market.'' Western General was incorporated here in 1980 and has been engaged in the insurance and reinsurance of moderate-tail casualty business and also financial reinsurance assumed. It has assets of more than $375 million, with capital and surplus of $96 million at the end of the last financial year, December 31, 1993.

Jointly elected to the position of deputy chairmen of Commercial Risk Partners Limited are Mr. Jacques Blondeau, president and chief operating officer of SCOR S.A., and Mr. Peter J. Rackley, the chairman of both Western General and Western International Financial Group Ltd.

Mr. Rackley said: "Joining forces with SCOR S.A., France's leading reinsurance company, as a partner in Commercial Risk is of important strategic value. The expanded business opportunities that will arise from the complementary fit in our business philosophy and the combined strength of both balance sheets offer excellent profit and growth prospects.'' Mr. Marren added: "The root of our (Commercial Risk's) success has been staying ahead of customer needs. You have to be one step ahead of the market in terms of new product development.'' Commercial Risk, operating in the financial insurance and reinsurance sector with a staff of 15, assists captives, self-insureds, commercial insurers and reinsurers and other organisations in managing and financing risk. The company's tailored programmes and products allow companies to effectively manage risks, reduce volatility and share in the benefits of their effective loss control efforts.

The company, in just over two years, has had asset growth from $50 million to $250 million. Their annual report shows net income at $5,460,000 for the last financial year with net premiums written of $87,606,000 and premiums earned at $33,543,000.