new president and chief operating officer.

OPL chief executive officer Scott Davis hailed the posting as testament to the company's commitment to keep its place among the world's top ten reinsurance firms.

"Mary has over 23 years of underwriting and senior management experience in the insurance and reinsurance industry,'' Mr. Davis said, "and we are pleased to have someone of her calibre as part of our senior management team.'' Mr. Davis also indicated Ms Hennessy would play a key role in implementing OPL's strategic plan as the company continues its expansion. Currently, OPL's members' equity now stands in excess of the $2.5 billion mark, with a varied portfolio of specialty reinsurance products offered to its clientele.

Additionally it owns, manages and leases real estate valued at over $1.5 billion.

Ms Hennessy's previous appointment was with insurance holding company TIG Holdings, which she joined as executive vice president and chief underwriting officer. By the end of her three-year stint there she had been upgraded to president and chief operating officer.

Prior to TIG Ms Hennessy was president of Am-Re Services Inc., chairman and CEO for Am-Re Consultants and senior vice president and chief actuary for American Re-Insurance Company, over an eight year period.

"We are extremely pleased to attract someone with Mary's accomplished track record and leadership ability,'' Mr. Davis said.

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