SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 10-Q/A
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(X) AMENDMENT NO. 1 TO QUARTERLY REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
FOR THE QUARTER ENDED SEPTEMBER 30, 1996
OR
( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
FOR THE TRANSITION PERIOD FROM TO
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CAPITAL RE CORPORATION
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
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DELAWARE 1-10995 52-1567009
(STATE OR OTHER (COMMISSION FILE NUMBER) (IRS EMPLOYER
JURISDICTION OF IDENTIFICATION NUMBER)
INCORPORATION OR
ORGANIZATION)
1325 AVENUE OF THE AMERICAS
18TH FLOOR
NEW YORK, NEW YORK 10019
(212) 974-0100
(NAME, ADDRESS, INCLUDING ZIP CODE, AND TELEPHONE NUMBER, INCLUDING AREA
CODE, OF REGISTRANT'S PRINCIPAL EXECUTIVE OFFICES)
INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS
REQUIRED TO BE FILED BY SECTIONS 13 OR 15(D) OF THE SECURITIES EXCHANGE
ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD
THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN
SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS. YES X NO
(REGISTRANT BECAME SUBJECT TO THE FILING REQUIREMENTS ON APRIL 8, 1992.)
AS OF NOVEMBER 12, 1996, THERE WERE OUTSTANDING 15,855,175 SHARES OF
COMMON STOCK, PAR VALUE $.01 PER SHARE, OF THE REGISTRANT.
INDEX TO EXHIBITS
EXHIBIT
NUMBER DESCRIPTION
11 STATEMENT RE: COMPUTATION OF PER
SHARE EARNINGS (UNAUDITED)
27 FINANCIAL DATA SCHEDULE
SIGNATURES
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED THEREUNTO DULY AUTHORIZED.
CAPITAL RE CORPORATION
DATE: JANUARY 6, 1997 BY /S/DAVID A. BUZEN
---------------
DAVID A. BUZEN
EXECUTIVE VICE PRESIDENT,
CHIEF FINANCIAL OFFICER
DATE: JANUARY 6, 1997 BY /S/ALAN S. ROSEMAN
-----------------
ALAN S. ROSEMAN
SENIOR VICE PRESIDENT,
GENERAL COUNSEL AND
SECRETARY
<TABLE> <S> <C>
<ARTICLE> 7
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> SEP-30-1996
<DEBT-HELD-FOR-SALE> 880,726
<DEBT-CARRYING-VALUE> 0
<DEBT-MARKET-VALUE> 0
<EQUITIES> 0
<MORTGAGE> 0
<REAL-ESTATE> 0
<TOTAL-INVEST> 880,726
<CASH> 1,992
<RECOVER-REINSURE> 1,360,611
<DEFERRED-ACQUISITION> 112,709
<TOTAL-ASSETS> 1,114,361
<POLICY-LOSSES> 19,629
<UNEARNED-PREMIUMS> 347,436
<POLICY-OTHER> 0
<POLICY-HOLDER-FUNDS> 0
<NOTES-PAYABLE> 90,772
75,000
0
<COMMON> 160
<OTHER-SE> 467,774
<TOTAL-LIABILITY-AND-EQUITY> 1,114,361
64,431
<INVESTMENT-INCOME> 37,792
<INVESTMENT-GAINS> (1,039)
<OTHER-INCOME> 788
<BENEFITS> 5,621
<UNDERWRITING-AMORTIZATION> 21,264
<UNDERWRITING-OTHER> 7,253
<INCOME-PRETAX> 54,208
<INCOME-TAX> 14,201
<INCOME-CONTINUING> 40,007
<DISCONTINUED> 0
<EXTRAORDINARY> 0
<CHANGES> 0
<NET-INCOME> 40,007
<EPS-PRIMARY> 2.57
<EPS-DILUTED> 2.57
<RESERVE-OPEN> 10,880
<PROVISION-CURRENT> 688
<PROVISION-PRIOR> 4,933
<PAYMENTS-CURRENT> 55
<PAYMENTS-PRIOR> 2,105
<RESERVE-CLOSE> 14,341
<CUMULATIVE-DEFICIENCY> 0<F1>
<FN>
<F1>Not Applicable for Mortgage Guaranty and Specialty Reinsurer
</FN>
</TABLE>
