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EXHIBIT 25.5
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM T-1
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STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939
OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY
OF A TRUSTEE PURSUANT TO SECTION 305(B)(2)
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BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION
(EXACT NAME OF TRUSTEE AS SPECIFIED IN ITS CHARTER)
A NATIONAL BANKING ASSOCIATION 31-0838515
(I.R.S. EMPLOYER
IDENTIFICATION NUMBER)
100 EAST BROAD STREET, COLUMBUS, OHIO 43271-0181
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
BANK ONE TRUST COMPANY, N.A.
1 BANK ONE PLAZA
CHICAGO, ILLINOIS 60670
ATTN: SANDRA L. CARUBA, FIRST VICE PRESIDENT AND COUNSEL, (312) 336-9436
(NAME, ADDRESS AND TELEPHONE NUMBER OF AGENT FOR SERVICE)
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TRENWICK AMERICA CAPITAL TRUST III
(EXACT NAME OF OBLIGOR AS SPECIFIED IN ITS CHARTER)
DELAWARE APPLIED FOR
(STATE OR OTHER JURISDICTION OF (I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION) IDENTIFICATION NUMBER)
ONE CANTERBURY GREEN 06901
STAMFORD, CONNECTICUTT (ZIP CODE)
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
TRUST PREFERRED SECURITIES
(TITLE OF INDENTURE SECURITIES)
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ITEM 1. GENERAL INFORMATION. FURNISH THE FOLLOWING INFORMATION AS TO THE
TRUSTEE:
(A) NAME AND ADDRESS OF EACH EXAMINING OR SUPERVISING AUTHORITY TO
WHICH IT IS SUBJECT.
Comptroller of Currency, Washington, D.C.; Federal Deposit Insurance
Corporation, Washington, D.C.; The Board of Governors of the Federal
Reserve System, Washington D.C.
(B) WHETHER IT IS AUTHORIZED TO EXERCISE CORPORATE TRUST POWERS.
The trustee is authorized to exercise corporate trust powers.
ITEM 2. AFFILIATIONS WITH THE OBLIGOR. IF THE OBLIGOR IS AN AFFILIATE OF THE
TRUSTEE, DESCRIBE EACH SUCH AFFILIATION.
No such affiliation exists with the trustee.
ITEM 16. LIST OF EXHIBITS. LIST BELOW ALL EXHIBITS FILED AS A PART OF THIS
STATEMENT OF ELIGIBILITY.
1. A copy of the articles of association of the trustee now in effect.*
2. A copy of the certificate of authority of the trustee to commence
business.*
3. A copy of the authorization of the trustee to exercise corporate
trust powers.*
4. A copy of the existing by-laws of the trustee.*
5. Not Applicable.
6. The consent of the trustee required by Section 321(b) of the Act.
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7. A copy of the latest report of condition of the trustee published
pursuant to law or the requirements of its supervising or examining
authority.
8. Not Applicable.
9. Not Applicable.
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the
trustee, Bank One Trust Company, National Association, a national banking
association organized and existing under the laws of the United States of
America, has duly caused this Statement of Eligibility to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the City of Chicago
and State of Illinois, on the 12th day of June, 2001.
BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION,
TRUSTEE
BY /S/ SANDRA L. CARUBA
SANDRA L. CARUBA
FIRST VICE PRESIDENT
* Exhibits 1, 2, 3, and 4 are herein incorporated by reference to Exhibits
bearing identical numbers in Item 16 of the Form T-1 of Bank One Trust Company,
National Association, filed as Exhibit 25 to the Registration Statement on Form
S-3 of Burlington Northern Santa Fe Corporation, filed with the Securities and
Exchange Commission on May 10, 2000 (Registration No. 333-36718).
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EXHIBIT 6
THE CONSENT OF THE TRUSTEE REQUIRED
BY SECTION 321(b) OF THE ACT
June 12, 2001
Securities and Exchange Commission
Washington, D.C. 20549
Ladies and Gentlemen:
In connection with the qualification of a trust agreement between Trenwick
America Capital Trust III and Bank One Trust Company, National Association, as
Trustee, the undersigned, in accordance with Section 321(b) of the Trust
Indenture Act of 1939, as amended, hereby consents that the reports of
examinations of the undersigned, made by Federal or State authorities authorized
to make such examinations, may be furnished by such authorities to the
Securities and Exchange Commission upon its request therefor.
Very truly yours,
BANK ONE TRUST COMPANY, NATIONAL ASSOCIATION
BY: /S/ SANDRA L. CARUBA
SANDRA L. CARUBA
FIRST VICE PRESIDENT
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EXHIBIT 7
Legal Title of Bank: Bank One Trust Company, N.A. Call Date: 3/31/01 State #: 391581 FFIEC 041
Address: 100 Broad Street Vendor ID: D Cert #: 21377 Page RC-1
City, State Zip: Columbus, OH 43271 Transit #: 04400003
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL
AND STATE-CHARTERED SAVINGS BANKS FOR MARCH 31, 2001
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding of the last business day of the
quarter.
SCHEDULE RC--BALANCE SHEET
DOLLAR AMOUNTS IN THOUSANDS C300
RCON BIL MIL THOU ------
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ASSETS
1. Cash and balances due from depository institutions (from Schedule RC-A): RCON
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a. Noninterest-bearing balances and currency and coin(1) ............................... 0081 57,409 1.a
b. Interest-bearing balances(2) ........................................................ 0071 0 1.b
2. Securities
a. Held-to-maturity securities(from Schedule RC-B, column A) ........................... 1754 0 2.a
b. Available-for-sale securities (from Schedule RC-B, column D) ........................ 1773 1,922 2.b
3. Federal funds sold and securities purchased under agreements to resell ................. 1350 771,209 3.
4. Loans and lease financing receivables: (from Schedule RC-C): RCON
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a. Loans and leases held for sale ...................................................... 5369 0 4.a
b. Loans and leases, net of unearned income ............................................ B528 84,428 4.b
c. LESS: Allowance for loan and lease losses ........................................... 3123 387 4.c
d. Loans and leases, net of unearned income and allowance (item 4.b
minus 4.c) .......................................................................... B529 84,041 4.d
5. Trading assets (from Schedule RC-D) .................................................... 3545 0 5.
6. Premises and fixed assets (including capitalized leases) ............................... 2145 21,125 6.
7. Other real estate owned (from Schedule RC-M) ........................................... 2150 0 7.
8. Investments in unconsolidated subsidiaries and associated companies
(from Schedule RC-M) ................................................................... 2130 0 8.
9. Customers' liability to this bank on acceptances outstanding ........................... 2155 0
10. Intangible assets.......................................................................
a. Goodwill ............................................................................ 3163 0 10.a
b. Other intangible assets (from Schedule RC-M) ........................................ 0426 12,971 10.b
11. Other assets (from Schedule RC-F) ...................................................... 2160 317,034 11.
12. Total assets (sum of items 1 through 11) ............................................... 2170 1,265,711 12.
(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held for trading.
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Legal Title of Bank: Bank One Trust Company, N.A. Call Date: 3/31/01 State #: 391581 FFIEC 041
Address: 100 East Broad Street Vendor ID: D Cert #" 21377 Page RC-2
City, State Zip: Columbus, OH 43271 Transit #: 04400003
SCHEDULE RC-CONTINUED
DOLLAR AMOUNTS IN
THOUSANDS
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LIABILITIES
13. Deposits: RCON
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a. In domestic offices (sum of totals of columns A and C from Schedule RC-E) ...... 2200 995,556 13.a
(1) Noninterest-bearing(1) ..................................................... 6631 558,282 13.a1
(2) Interest-bearing ........................................................... 6636 437,274 13.a2
b. Not applicable
14. Federal funds purchased and securities sold under agreements to repurchase ........ RCFD 2800 0 14.
15. Trading Liabilities(from Sechedule RC-D) .......................................... RCFD 3548 0 15.
16. Other borrowed money (includes mortgage indebtedness and obligations under
capitalized leases) (from Schedule RC-M) .......................................... 3190 0 16.
17. Not applicable
18. Bank's liability on acceptances executed and outstanding .......................... 2920 0 18.
19. Subordinated notes and debentures (2) ............................................. 3200 0 19.
20. Other liabilities (from Schedule RC-G) ............................................ 2930 125,576 20.
21. Total liabilities (sum of items 13 through 20) .................................... 2948 1,121,132 21.
22. Minority interest in consolidated subsidiaries .................................... 3000 0 22.
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus ..................................... 3838 0 23.
24. Common stock ...................................................................... 3230 800 24.
25. Surplus (exclude all surplus related to preferred stock) .......................... 3839 45,157 25.
26. a. Retained earnings .............................................................. 3632 98,597 26.a
b. Accumulated other comprehensive income (3) ..................................... B530 25 26.b
27. Other equity capital components (4) ............................................... A130 0 27.
28. Total equity capital (sum of items 23 through 27) ................................. 3210 144,579 28.
29. Total liabilities, minority interest, and equity capital (sum of items 21,
22, and 28) ....................................................................... 3300 1,265,711 29.
Memorandum
To be reported only with the March Report of Condition.
1. Indicate in the box at the right the number of the statement below that best ----------------
describes the most comprehensive level of auditing work performed for the Number
bank by independent external auditors as of any date during 1996...............RFCD 6724.......... N/A M.1.
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1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified public
accounting firm which submits a report on the consolidated holding company
but not on the bank separately)
3 = Directors' examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm (may be
required by state chartering authority)
4. = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
8 = No external audit work
(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.