EXHIBIT  NO. 99.08

                                                  COMPANY'S FORM 8-K
                                                  March 1, 1994 

                                                  Page 2

   Item 5.  Other Events.

        In a case entitled The Travelers Insurance Company et al.
   v. Richard  John Ratcliffe Keeling  et al., filed in  New York
   Supreme  Court in  June  1991, old  Travelers seeks to enforce
   reinsurance contracts with certain underwriters  at Lloyd's of
   London with respect to recoveries for certain asbestos claims.
   In January 1994, the Court stayed litigation of this matter in
   favor of arbitration.  The issues before the arbitration panel
   include  the underwriters' breach of  contract and anticipated
   breach of their agreement with the Company on asbestos-related
   reinsurance claims.