Exhibit 99(iii)

                                                  CONTACT:
                                                  James C. Rowan Jr.
                                                  Office:  (860) 722-5180

FOR IMMEDIATE RELEASE

                      HSB GROUP, INC. HOLDS ANNUAL MEETING

HARTFORD,  Conn.,  April 18, 2000 -- HSB Group,  Inc.  (NYSE-HSB) held its 135th
annual meeting today at the company's headquarters.

Chairman,  President and Chief Executive  Officer Richard H. Booth discussed the
company's  performance  in  1999,  results  for the  first  quarter  of 2000 and
strategies to grow the company's operating earnings and shareholder value.

The  primary  strategy  for  the  company's  commercial  insurance  business  is
continued growth through reinsurance arrangements with other insurers, HSB calls
"client  companies."  By using this  approach,  HSB  efficiently  leverages  the
significant customer base of its client companies to increase market penetration
for its equipment breakdown products.

In  engineering  services,  the company is taking steps to build on the improved
profitability  that was achieved  during the first quarter  while  continuing to
invest  in  "new  economy"  growth   businesses,   such  as  Integrated  Process
Technologies  that  capitalize  on the  trend  in  industry  toward  outsourcing
management  of equipment  and  facilities.  HSB is also seeking  growth  through
value-added contracts,  such as its recent agreement with Enron Energy Services.
Under this arrangement, HSB receives licensing fees and payments for services in
support  of  Enron's  asset  management   service  business.   "The  engineering
capabilities we have developed are attractive to other  companies.  We aspire to
effect other agreements that utilize HSB's intellectual  capital with additional
customers this year," said Mr. Booth.

In addition,  HSB has embarked on a company-wide profit improvement process. The
purpose of this program is to increase  earnings over time through a combination
of revenue  growth,  improved loss control,  and the  elimination of unnecessary
costs.

In closing,  Mr.  Booth said:  "In the future,  I see HSB as an architect of new
ideas and  business  solutions to help our  customers  meet the  challenges  and
opportunities of the `new economy.'"

During the business portion of the meeting, shareholders elected three directors
for three-year terms: William B. Ellis, senior fellow, Yale University School of
Forestry and Environmental  Studies; E. James Ferland,  chairman,  president and
chief executive  officer,  Public Service  Enterprise  Group Inc.; and Henrietta
Holsman  Fore,  chairman and chief  executive  officer,  Holsman  International.
Shareholders also appointed independent public accountants.

HSB Group,  Inc.  (NYSE-HSB),  the parent  company of The Hartford  Steam Boiler
Inspection and Insurance  Company,  is a global provider of specialty  insurance
products,  engineering services, and management  consulting.  The Hartford Steam
Boiler  Inspection  and  Insurance  Company was founded in 1866 to provide  loss
prevention service and insurance to businesses, industries and institutions. For
more information about HSB, visit its web site at www.hsb.com. This news release
contains forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, that are management's estimates,  assumptions and
projections  and are  not  guarantees  of  future  performance.  Forward-looking
statements  involve known and unknown risks and  uncertainties.  These and other
important factors,  including those mentioned in various Securities and Exchange
Commission  filings made  periodically  by the company,  may cause the company's
actual results and performance to differ  materially.  Investors and prospective
investors  should read this news release in conjunction  with the company's most
recent Form 10-K,  Form 10-Q and other  documents  filed with the Securities and
Exchange Commission.

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