AMERICAN RE ASSET MANAGEMENT INC /NJ
13F-HR, 1999-08-03
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United States Securities and Exchange Commission
Washington, D.C.  20549

Form 13F

Form 13F Cover Page

Report for the Calendar Quarter ended June 30, 1999

Check here if Amendment  [    ]: Amendment
Number:
This Amendment(check only one):
     [    ] Is a restatement
     [    ] Adds new holdings entries

Institutional Investment Manager Filing this Report:

Name:   American Re Asset Management
Address:  100 Campus Drive, P.O. Box 939
                Florham Park, NJ  07932-0939

The institutional investment manager filing this
report and the person by whom it is signed hereby
represent that the person signing the report is
authorized to submit it, that all information contained
herein is true, correct and complete, and that it is
understood that all required items, statements,
schedules, lists, and tables are considered
integral parts of this form.

Person Signing this Report on Behalf of Reporting
Manager:

Name:  Susan E. Saltus
Title:     Managing Director
Phone:  (973)360-3342
Signature,Place and Date of Signing:
Susan E. Saltus, Florham Park, NJ  August 6 1999

Report type (Check only one.):
[X]   13F Holdings Report
[  ]    13F Notice
[  ]    13F Combination Report

List of Other Managers Reporting for this Manager:
N/A

I am signing this report as required by the Securities
Exchange Act of 1934.

Form 13F Summary Page

Report Summary:

Number of Other Included Managers:   0
Form 13F Information Table Entry Total:      158
Form 13F Information Table Value Total:   1,272,010

List of Other Included Managers:
N/A

[S]ISSUER               [C][C]CUSIP [C]MVthou[C]Shrs    [C]<<<c>VOTShr[C][C]Nm
 US WEST INC            COM91273H101   21,251    361,723X      361,723
3COM CORP               COM885535104   13,707    513,590X      513,590
ABBOTT LABS             COM002824100   17,919    394,910X      394,910
AIR PRODS & CHEMS INC   COM009158106    9,811    243,760X      243,760
ALBERTSON'S INC         COM013104104   12,414    240,757X      240,757
ALLIED-SIGNAL INC       COM019512102      299      4,750X        4,750
ALLSTATE CORP           COM020002101      228      6,360X        6,360
AMERICA ON LINE         COM02364J104      860      7,815X        7,815
AMERICAN EXPRESS COMPANYCOM025816109      510      3,920X        3,920
AMERICAN GENERAL CORPORACOM026351106    3,683     48,860X       48,860
AMERICAN HOME PRODUCTS CCOM026609107   18,454    321,635X      321,635
AMERICAN INTERNATIONAL GCOM026874107    7,017     59,843X       59,843
AMERITECH CORPORATION   COM030954101      610      8,300X        8,300
AMGEN INC               COM031162100      242      3,970X        3,970
ANHEUSER BUSCH COS INC  COM035229103   29,071    409,810X      409,810
APPLIED MATERIALS INC   COM038222105      217      2,940X        2,940
ASSOCIATES FIRST CAPITALCOM046008108    9,430    213,722X      213,722
AT&T CORP               COM001957109    4,767     85,403X       85,403
ATLANTIC RICHFIELD CO   COM048825103    6,820     81,620X       81,620
AUTOMATIC DATA PROCESSINCOM053015103      224      5,080X        5,080
BAKER HUGHES INC        COM057224107    7,145    213,290X      213,290
BANC ONE CORP           COM06423A103      612     10,273X       10,273
BANK OF AMERICA CORP    COM060505104    6,839     93,287X       93,287
BANK OF NEW YORK INC    COM064057102      217      5,910X        5,910
BANKBOSTON CORPORATION  COM06605R106      533     10,420X       10,420
BAXTER INTERNATIONAL INCCOM071813109   14,169    233,710X      233,710
BB&T CORP               COM054937107   19,193    523,150X      523,150
BCE INC                 COM05534B109   16,057    325,620X      325,620
BEC ENERGY              COM05538M101    4,987    120,900X      120,900
BECTON DICKINSON & CO   COM075887109    8,966    298,855X      298,855
BELL ATLANTIC CORPORATIOCOM077853109      836     12,784X       12,784
BELLSOUTH CORP          COM079860102      724     15,690X       15,690
BMC SOFTWARE INC        COM055921100   10,463    193,760X      193,760
BOEING COMPANY          COM097023105      368      8,358X        8,358
BRISTOL-MYERS SQUIBB COMCOM110122108   24,343    345,600X      345,600
BURLINGTON NORTHERN SANTCOM12189T104    9,623    310,410X      310,410
CAMPBELL SOUP CO        COM134429109    4,819    103,920X      103,920
CARNIVAL CRUISE LINES INCOM143658102      252      5,200X        5,200
CATERPILLAR INC         COM149123101      215      3,590X        3,590
CBS CORP                COM12490K107      234      5,380X        5,380
CHASE MANHATTAN CORP    COM16161A108   33,510    387,402X      387,402
CHEVRON CORP            COM166751107   21,994    231,360X      231,360
CISCO SYSTEMS INC       COM17275R102    1,528     23,690X       23,690
CITIGROUP INC           COM172967101   28,237    594,459X      594,459
COCA COLA CO            COM191216100    1,138     18,360X       18,360
COLGATE-PALMOLIVE COMPANCOM194162103      240      2,440X        2,440
COMCAST CORP            COM200300200      241      6,280X        6,280
COMPAQ COMPUTER CORP    COM204493100    6,949    293,368X      293,368
COMPUTER ASSOC INTL     COM204912109      229      4,175X        4,175
COMPUTER SCIENCE        COM205363104   17,379    251,185X      251,185
CONSTELLATION ENERGY GROCOM210371100    5,919    199,810X      199,810
COSTCO COMPANIES INC    COM22160Q102      213      2,660X        2,660
DAYTON HUDSON CORP      COM239753106    6,955    107,000X      107,000
DELL COMPUTER CORP      COM247025109      676     18,260X       18,260
DISNEY WALT CO          COM254687106      508     16,490X       16,490
DOW CHEMICAL            COM260543103   15,385    121,265X      121,265
DU PONT (EI) DE NEMOURS COM263534109      622      9,100X        9,100
E M C CORP MASS         COM268648102      395      7,190X        7,190
ELECTRONIC DATA SYSTEMS COM285661104      241      4,250X        4,250
EMERSON ELEC CO         COM291011104   17,657    280,550X      280,550
ENERGY EAST CORP.       COM29266M109   13,589    522,650X      522,650
ENRON CORP              COM293561106      220      2,690X        2,690
EQUITABLE COMPANIES     COM29444G107    4,739     70,725X       70,725
EXXON CORP              COM302290101   25,705    333,295X      333,295
FEDERAL HOME LN MTG CORPCOM313400301   11,584    199,720X      199,720
FEDERAL NATL MTG ASSN   COM313586109    7,703    112,870X      112,870
FIRST UNION CORP        COM337358105    2,145     45,521X       45,521
FLEET FINANCIAL GROUP INCOM338915101      217      4,900X        4,900
FORD MOTOR CO           COM345370100      532      9,430X        9,430
FORTUNE BRANDS INC      COM349631101   19,965    482,540X      482,540
GALLAGHER (ARTHUR J. & CCOM363576109    5,299    107,050X      107,050
GANNETT CO INC          COM364730101   18,685    261,785X      261,785
GAP INC                 COM364760108      504     10,000X       10,000
GATEWAY INC             COM367626108    3,407     57,680X       57,680
GENERAL ELECTRIC COMPANYCOM369604103    2,876     25,450X       25,450
GENERAL MOTORS CORP     COM370442105      340      5,150X        5,150
GEORGIA PACIFIC CORP    COM373298108    5,275    111,355X      111,355
GILLETTE COMPANY        COM375766102      369      9,000X        9,000
GPU INC                 COM36225X100   16,390    388,510X      388,510
GTE CORP                COM362320103   20,997    278,100X      278,100
HARTFORD LIFE CLASS A   COM416592103    4,079     77,515X       77,515
HEWLETT PACKARD CO      COM428236103      768      7,640X        7,640
HOME DEPOT INC          COM437076102      784     12,170X       12,170
HONEYWELL INC           COM438506107   23,694    204,475X      204,475
HOUSEHOLD INTL INC      COM441815107   10,599    223,733X      223,733
IBM CORP                COM459200101   32,895    254,510X      254,510
INGERSOLL RAND CO       COM456866102   17,950    277,759X      277,759
INTEL CORPORATION       COM458140100    1,541     25,900X       25,900
INTERPUBLIC GROUP COS INCOM460690100   19,888    229,590X      229,590
INTIMATE BRANDS         COM461156101   13,170    278,000X      278,000
JOHNSON & JOHNSON       COM478160104   22,794    232,595X      232,595
KIMBERLY CLARK CORP     COM494368103   18,804    329,890X      329,890
KNIGHT RIDDER           COM499040103   15,155    275,230X      275,230
KROGER & CO             COM501044101      217      7,780X        7,780
LEXMARK INTERNATIONAL GRCOM529771107   11,851    180,935X      180,935
LILLY ELI & CO          COM532457108      641      8,950X        8,950
LOWE'S COMPANIES INC    COM548661107   16,497    291,010X      291,010
LUCENT TECHNOLOGIES INC COM549463107    1,505     22,320X       22,320
MASCO CORPORATION       COM574599106   13,237    458,420X      458,420
MBNA CORP               COM55262L100   20,514    669,852X      669,852
MCDONALDS CORP          COM580135101      424     10,310X       10,310
MCGRAW HILL             COM580645109   12,247    227,060X      227,060
MCI WORLDCOM INC        COM55268B106    1,218     14,152X       14,152
MEDIAONE GROUP INC      COM58440J104      350      4,700X        4,700
MEDTRONIC INC           COM585055106      379      4,870X        4,870
MERCK & CO INC          COM589331107   20,352    276,430X      276,430
MERRILL LYNCH & CO INC  COM590188108      202      2,540X        2,540
METROWEST BANK/MASS     COM592668107       91     13,000X       13,000
MICROSOFT CORP          COM594918104    3,409     37,795X       37,795
MINNESOTA MINING & MANUFCOM604059105      280      3,220X        3,220
MOBIL CORP              COM607059102      682      6,910X        6,910
MONSANTO COMPANY        COM611662107      227      5,730X        5,730
MORGAN (JP) & CO INC    COM616880100   12,755     90,785X       90,785
MORGAN STANLEY DEAN WITTCOM617446448   21,354    208,075X      208,075
MOTOROLA INC            COM620076109    6,287     66,350X       66,350
NORTEL NETWORKS CORP    COM656569100      440      5,070X        5,070
OFFICE DEPOT INC        COM676220106    7,343    332,800X      332,800
ORACLE CORPORATION      COM68389X105   25,158    677,668X      677,668
PEPSICO INC             COM713448108    7,539    194,870X      194,870
PFIZER INC              COM717081103    1,091     10,010X       10,010
PHILIP MORRIS COS INC RECOM718154107   13,033    324,295X      324,295
PNC FINANCIAL CORP      COM693475105   11,465    198,966X      198,966
PROCTER & GAMBLE CO     COM742718109      947     10,610X       10,610
RALSTON PURINA COMPANY  COM751277302   15,726    516,665X      516,665
RAYTHEON COMPANY        COM755111408      207      2,940X        2,940
ROCKINGHAM HERITAGE BANKCOM77347A107      102     10,993X       10,993
ROYAL DUTCH PETROLEUM COCOM780257804   26,522    440,205X      440,205
SAFEWAY INC             COM786514208      224      4,520X        4,520
SBC COMMUNICATIONS INC  COM78387G103   21,870    377,068X      377,068
SCHERING-PLOUGH CORPORATCOM806605101      926     17,640X       17,640
SCHLUMBERGER LTD        COM806857108    6,977    109,550X      109,550
SCHWAB (CHARLES) CORP   COM808513105      337      3,090X        3,090
SPRINT CORP             COM852061100    3,822     72,105X       72,105
SUN MICROSYSTEMS INC    COM866810104   16,357    237,490X      237,490
SUNTRUST BANKS          COM867914103      363      5,230X        5,230
SYMANTEC CORP           COM871503108    7,379    289,370X      289,370
TELLABS INC             COM879664100   24,868    368,070X      368,070
TEXACO INC              COM881694103   24,027    385,200X      385,200
TEXAS INSTRUMENTS INC   COM882508104   15,098    104,845X      104,845
TIME WARNER INC         COM887315109      688      9,480X        9,480
TJX COMPANIES INC       COM872540109   16,369    491,355X      491,355
TYCO INTERNATIONAL LTD  COM902124106   17,915    189,080X      189,080
UNILEVER NV NEW YORK    COM904784709      298      4,276X        4,276
UNITED TECHNOLOGIES CORPCOM913017109      297      4,120X        4,120
US BANCORP              COM902973106      218      6,530X        6,530
VIACOM INC              COM925524308      241      5,480X        5,480
VODAPHONE AIRTOUCH PLC  COM92857T107      448      2,275X        2,275
WAL-MART STORES INC     COM931142103   16,212    335,990X      335,990
WALGREEN CO             COM931422109      239      8,140X        8,140
WARNER LAMBERT CO       COM934488107      450      6,510X        6,510
WASHINGTON MUTUAL INC   COM939322103      206      5,800X        5,800
WASTE MANAGEMENT INC    COM94106L109      254      4,734X        4,734
WELLS FARGO COMPANY     COM949746101   24,412    571,040X      571,040
XEROX CORP              COM984121103   19,380    328,125X      328,125
OLD GUARD GROUP INC     COM679783100    2,016    150,700X      150,700
FIRST NATIONAL BANK     COM900016007      113    113,480X      113,480
FLORIDA TREASURY TRUST  COM900009002      200    200,000X      200,000
PGA SERVICE CORPORATION COM69335*101    4,702        100X          100

                                    1,272,010



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