SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

                         Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934


          Date of Report (Date of earliest event reported) May 21, 1999

                                  NAC Re Corp.
             ------------------------------------------------------
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


          Delaware                      0-13891                  13-3297840
- ----------------------------          ------------           -------------------
(STATE OR OTHER JURISDICTION          (COMMISSION             (I.R.S. EMPLOYER
     OF INCORPORATION)                FILE NUMBER)           IDENTIFICATION NO.)


             One Greenwich Plaza, CT                             06836-2568
     ----------------------------------------                    ----------
     (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)                    (ZIP CODE)


        Registrant's telephone number, including area code (203) 622-5200


                                 Not Applicable
          -------------------------------------------------------------
          (FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)


Item 5.   Other Events.

     The  registrant's  press  release,  dated  May  21,  1999,  announcing  the
redemption of its 5 1/4%  Convertible  Subordinated  Debentures due December 15,
2002, is filed herewith as Exhibit 99.1 and is incorporated herein by reference.


Item 7.   Financial Statements and Exhibits.

          (c) The following exhibits are filed with this report:


EXHIBIT NUMBER                                  DESCRIPTION
- --------------                                  -----------

     99.1                   Press Release of the registrant, dated May 21, 1999.



                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                NAC RE CORP.


                                By:  /s/ Richard H. Miller
                                     -------------------------------------------
                                     Name: Richard H. Miller
                                     Title:  Chief Financial Officer & Treasurer


Dated:  May 25, 1999



                                  EXHIBIT INDEX


EXHIBIT NUMBER                                  DESCRIPTION
- --------------                                  -----------

     99.1                   Press Release of the registrant, dated May 21, 1999.