, senior vice president, reinsurance recoverables, has been appointed chief reinsurance officer to the ACE Group of Companies

Reporting to , chairman & chief executive officer of ACE USA and chairman of ACE Westchester Specialty Group, Mr. O?Farrell will be responsible for overseeing corporate reinsurance programmes for the ACE Group.

He will work with each of ACE?s operating divisions around the world in the design and purchase of reinsurance, and will have overall responsibility for the company?s relationships with reinsurers.

In his new position, which is effective immediately, Mr. O?Farrell will continue his responsibility for reinsurance recoverables and for managing the orderly disposition of the company?s Brandywine run-off operations.

Additionally, the ceded reinsurance officers of each ACE operating division will have a reporting relationship to Mr. O?Farrell.

@EDITRULE:

Chartered financial analyst (CFA), , has been hired by Anchor Investment Management Limited as the company?s senior fixed income credit analyst.

Mr. Balon was previously a corporate bond analyst for Raiffeisen Zentralbank in Vienna, Austria.

While at the bank he developed and maintained quantitative models for valuing corporate bonds.

He holds a graduate degree in Economics and Computer Science from the University of Vienna, a graduate degree in Business Administration from Vienna University of Economics and a Doctoral in Operations Research.

In his dissertation Mr. Balon developed an empirical model valuing European corporate bonds.

@EDITRULE:Glen Smith has joined the board of directors of Bermuda Aviation Services Limited. Mr. Smith is the former president of IBC Limited a subsidiary of BAS.

He is also a member of the KeyTech board.

@EDITRULE:

Bermuda Commercial Bank Limited has appointed as its new corporate secretary upon the resignation of Debra V. Stevens, effective October 14.

@EDITRULE:Scottish Re Group Limited has been granted a licence to establish a representative office by the Monetary Authority of Singapore.

In addition, Scottish Re has appointed as Asia-Pacific regional director.

?We are pleased to announce the opening of a representative office in Singapore as Scottish Re?s first step in establishing a physical presence in the Asia-Pacific region,? Scott E. Willkomm, president and chief executive officer of Scottish Re Group Limited said.

?Also, we are delighted to welcome an individual with Andrew Linfoot?s experience in the region to our management team.

?For several years we have provided life reinsurance capacity to clients in Asia through the London market.?

?With this enhanced commitment to the region, we expect to enhance our ability to service existing clients while providing Scottish Re with access to an expanding universe of high quality business opportunities in one of the world?s fastest growing life reinsurance markets. ?As a jurisdiction, Singapore provides Scottish Re with a stable, business-friendly environment with high quality professional resources and technical infrastructure.?

?Under Andrew?s leadership, we expect to capitalise on our historic success in the region by building a specialised team of twelve to fifteen life reinsurance professionals by the end of 2006.?

Singapore will serve as Scottish Re?s Asia-Pacific regional hub, focusing on life reinsurance opportunities in principal markets such as Japan, greater China, India, Korea and Australia.

The new Scottish Re office is located in the Stock Exchange Building in the financial district of Singapore.

Mr. Linfoot, who is a Fellow of the Institute of Actuaries of Australia, brings to Scottish Re over ten years of life reinsurance experience in the region.

Prior to joining Scottish Re, he was the Principal Officer of a major life reinsurance company in Singapore.

Mr. Linfoot holds Economics and Business Administration degrees from Macquarie University and is the current President of the Singapore Actuarial Society.

?It is obviously great news for Scottish Re to be opening its doors in Asia, and I am thrilled to take responsibility for developing the group?s business in this part of the world,? Mr. Linfoot said.

?The region is broad and diverse, and the markets are in varying stages of development and maturity.

?Accordingly, there are many opportunities to add value to our clients? businesses through the use of Scottish Re?s competitive advantages.?