in an area as complex as property catastrophe insurance, said Mid Ocean Re's president and CEO, Mr. Michael Butt.

Mr. Butt believes the company has assembled a management team which is capable of success in an increasingly competitive line of business.

Leading that team, of course, is Mr. Butt himself, who has held a number of senior positions in large companies.

He has been a member of Mid Ocean's board since its inception in November, 1992, and has served as vice chairman since April, 1993.

He has been a director of Phoenix Securities since March, 1992, and was previously chairman and CEO of Eagle Star Insurance Company and a member of the board of BAT Industries.

Before joining Eagle Star in 1987, Mr. Butt was chairman of Sedgwick Ltd., and deputy chairman of Sedgwick Group Plc.

On May 24, 1993, Mr. Butt officially took over as president and CEO of Mid Ocean Re from 67-year-old Mr. Ian Heap, who stepped down for medical reasons.

Other members of the firm's management team are: Mr. Henry Keeling, senior vice-president and chief underwriting officer; Mr. John Wadson, vice-president and treasurer; and Mr. Charles Skey, underwriting policy consultant.

Mr. Keeling served as a director of Taylor Clayton (Underwriting Agencies) and deputy underwriter for Syndicate no. 51 at Lloyd's of London from 1983 to 1992.

Mr. Skey, who is based in London, was the underwriter for the R.A. Edwards Syndicate no. 219 at Lloyd's of London from 1962 to 1990 and is currently a director of CentreWrite.

Mr. Wadson served as vice-president/financial controller and as a director of local construction firm Burland, Conyers & Marirea from 1986 to 1992.

From 1982 to 1986, he was vice president of operations for Inlake Insurance, a subsidiary of TRW, Inc.

Once additional staff are taken on to cope with its expansion plans, Mid Ocean Re expects to have a workforce of some 25 by the end of the year -- up by about six on its current figure.

The company is currently advertising for two new underwriters to complement Mr. Keeling and its other underwriter, Bermudian Mr. Mark Berry.

After its move a few weeks ago to Richmond House, on Par-la-Ville Road, Hamilton, where it takes up the entire top floor, the company can now comfortably accommodate extra staff.

Mr. Henry Keeling, senior vice-president and chief underwriting officer. Mr.

Michael Butt, Mid Ocean Re president and chief executive officer.

NEW HOME -- Mid Ocean Re has recently moved into new offices in Richmond House on Par-La-Ville Road. The offices will allow the company to comfortably house up to 25 staff.