Exhibit 99.2

                            [LETTERHEAD OF TRENWICK]

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For Immediate Release
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                    Trenwick Announces Forbearance Agreement
                         With Letter of Credit Providers

Hamilton, Bermuda, November 14, 2002...

Trenwick Group Ltd. ("Trenwick") announced today that it had entered into a
forbearance agreement with its letter of credit providers with respect to the
current events of default under Trenwick's bank credit facility. In the
forbearance agreement, the letter of credit providers agree to refrain from
enforcing their rights or remedies under the credit agreement until November 22,
2002, or earlier if there is another default under the credit facility or the
forbearance agreement, a third party exercises any right of action against
Trenwick for a debt in excess of $5 million or other material obligation or
Trenwick takes an action which the letter of credit providers reasonably
consider to be materially adverse to their interests.

In consideration for the forbearance of the letter of credit providers, Trenwick
agreed, among other things, to refrain from making certain payments or
distributions, and to facilitate a meeting of the letter of credit providers and
Lloyd's.

Trenwick continues to discuss with its current letter of credit providers the
renewal for an additional year of its $226 million letter of credit facility in
support of its Lloyds' operations.

Background Information

Trenwick is a Bermuda-based specialty insurance and reinsurance underwriting
organization with two 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-based insurer
and at Lloyd's.