Exhibit 99.2

      Trenwick Group Ltd.        LOM Building              Tel 441.292.4985
                                 27 Reid Street            Fax 441.292.4878
                                 Hamilton HM 11
                                 Bermuda

         NYSE Symbol: TWK

         Contact: Alan L. Hunte, Executive Vice President and Chief
                  Financial Officer - 441.292.4985

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For Immediate Release
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               Trenwick and Chubb Re Create Underwriting Facility
                      and Trenwick Announces Reserve Review

Hamilton, Bermuda, October 25, 2002 . . .

Trenwick Group Ltd. ("Trenwick") announced today that its subsidiary Trenwick
America Reinsurance Corporation had entered into an underwriting facility with
Chubb Re, Inc., a subsidiary of The Chubb Corporation. The underwriting facility
will permit Trenwick to underwrite up to $400 million of U.S. reinsurance
business on behalf of Chubb Re in the remainder of 2002 and 2003. Chubb Re will
retain final underwriting authority and claims authority with respect to all
business generated through the underwriting facility. The underwriting facility
will be in addition to Chubb Re's current underwritings.

Chubb Re will receive one-third and Trenwick will receive two-thirds of the
profits generated by the business. Chubb Re will receive a 5% fronting fee on
two-thirds of the business written through the underwriting facility. In
addition, Trenwick will reinsure Chubb Re for 100% of the losses incurred under
the underwriting facility in excess of the premiums collected and investment
income earned in the underwriting facility. To secure its reinsurance
obligations to Chubb Re, Trenwick has agreed to post a $50 million security
deposit with Chubb Re and all premiums collected from the facility shall be paid
to Chubb Re.

Stephen H. Binet, President and Chief Executive Officer of Trenwick America
Reinsurance Corporation, stated, "We are enthused about establishing a
relationship with Chubb Re that enables Trenwick to continue to serve our
longstanding clients and fully participate in the current robust reinsurance
market."


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John Berger, President and Chief Executive Officer of Chubb Re, stated, "This is
a very good deal for both parties. Over Trenwick's history, their United States
treaty operation has developed a very loyal following on a book of business
which is complementary to the business done by Chubb Re. We see this as an
opportunity to participate in Trenwick's business at an opportune time and will
have the benefit of receiving a fronting fee and protection from a secured stop
loss contract."

Trenwick also announced today that it had engaged independent actuaries to
conduct a review of Trenwick's reserves for loss and loss adjustment expenses at
each of its operating subsidiaries. It is expected that the reserve study will
take between 60 and 90 days to complete. Trenwick will record any appropriate
adjustments to its reserves based upon the information provided by the reserve
study in its reported results for the fourth quarter of 2002.

W. Marston Becker, Acting Chairman and Acting Chief Executive Officer of
Trenwick, stated, "The underwriting facility and the reserve review are two
important steps towards improving Trenwick's position with its clients,
investors and rating agencies. We will continue to proactively address the
issues facing Trenwick and strive to maintain the levels of customer service and
innovative thinking for which the company has historically been known."

Background Information

Trenwick is a Bermuda-based specialty insurance and reinsurance underwriting
organization with three principal businesses operating through its subsidiaries
located in the United States, the United Kingdom and Bermuda. Trenwick's
reinsurance business provides treaty reinsurance to insurers of property and
casualty risks from offices in the United States and Bermuda. Trenwick's
international operations underwrite specialty insurance as well as treaty and
facultative reinsurance on a worldwide basis through its London insurer and at
Lloyd's. Trenwick's U.S. specialty program insurance business underwrites U.S.
property and casualty insurance through specialty program administrators.


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Safe Harbor for Forward-Looking Statements

Certain statements made in this press release that are not based on current or
historical fact are forward-looking in nature including, without limitation,
statements containing words "believes," "anticipates," "plans," "projects,"
"intends," "expects," "estimates," "predicts," and words of similar import. Such
forward-looking statements, including in particular Trenwick's forecast of
future earnings, involve known and unknown risks, assumptions, uncertainties,
and other factors that may cause actual results, performance, or achievements of
Trenwick or its industry to differ materially from any future results,
performance, or achievements expressed or implied by such forward-looking
statements.

Trenwick has identified certain risk factors which could cause actual plans or
results to differ substantially from those included in any forward-looking
statements. These risk factors are discussed in Trenwick's Securities and
Exchange Commission filings, including but not limited to its most recent Form
10-K, Form 10-Q and Form 8-K filed with the Securities and Exchange Commission,
and such discussions regarding risk factors are hereby incorporated by reference
into this press release. Copies of such Securities and Exchange Commission
filings are available from Trenwick or directly from the Securities and Exchange
Commission.


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