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OMB Number: 3235-0287
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Dillard Joan Helen
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(Last) (First) (Middle)
12/13 Exchange Place
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(Street)
Dublin, Ireland 1
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
ESG Re Limited (ESREF)
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3. I.R.S. Identification Number of Reporting Person, if an entity (Voluntary)
________________________________________________________________________________
4. Statement for Month/Year
March 2000
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5. If Amendment, Date of Original (Month/Year)
________________________________________________________________________________
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[_] Director [_] 10% Owner
[X] Officer (give title below) [_] Other (specify below)
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[_] Form filed by More than One Reporting Person
________________________________________________________________________________
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common shares, par value $1 per share 3/14/00 A 30,600(1) A 57,700
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
Potential persons who are to respond to the collection of Information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
(Over)
SEC 1474 (3-99)
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- 3. (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative Trans- 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- action ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Date Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common
Options to buy $26/sh 3/31/98 3/31/08 Shares 11,250 11,250 (D)
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Common
Options to buy $26/sh 3/31/00 3/31/10 Shares 11,250 11,250 (D)
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Common
Options to buy $26/sh 3/31/01 3/31/11 Shares 11,250 11,250 (D)
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Common
Options to buy $26/sh 3/31/02 3/31/12 Shares 11,250 11,250 (D)
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Common
Options to buy $25.50/sh 5/4/98 5/4/08 Shares 4,375 4,375 (D)
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Common
Options to buy $25.50/sh 5/4/00 5/4/10 Shares 4,375 4,375 (D)
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Common
Options to buy $25.50/sh 5/4/01 5/4/11 Shares 4,375 4,375 (D)
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Common
Options to buy $25.50/sh 5/4/02 5/4/12 Shares 4,375 4,375 (D)
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Common
Options to buy $5.7284/sh 2/25/00 2/25/10 Shares 14,500 14,500 (D)
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Common
Options to buy $5.7284/sh 2/25/02 2/25/10 Shares 14,500 14,500 (D)
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Common
Options to buy $5.7284/sh 2/25/03 2/25/10 Shares 14,500 14,500 (D)
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Common
Options to buy $5.7284/sh 2/25/04 2/25/10 Shares 14,500 14,500 (D)
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</TABLE>
Explanation of Responses:
1. 30,600 common shares containing contractual transferability limitations
were awarded on March 14, 2000 pursuant to the ESG Re Limited 2000
Restricted Stock Plan.
/s/ Joan H. Dillard April 10, 2000
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
