salary scale, according to a new survey.

The Offshore Business News and Research salaries survey for the 1997 financial year reveals that 26 staff earned at least $1-million in their salary package -- compared to a figure of 16 in 1996.

The Inside Bermuda newsletter also shows the rest of the officers surveyed earning between $186,000 and $939,000.

At the top of the scale, James Stanard, president of RenaissanceRe was paid a total of $9,232,071, when his salary, bonus, allowances, pensions and stock profits are taken into account. Coming in at second place for the second year in a row is Michael Butt of Mid Ocean, who recieved $6,977,111. Nicholas Brown, managing director of newly-listed Stirling Cooke, had the third largest salary at $6,669,223, and colleague Mark Cooke, recieved $2.7 million. The top five earners in each company are disclosed in the survey.

EXEL, which recently purchased Mid Ocean, figures strongly in the table with president Brian O'Hara recieving $3.7 million, executive vice presidents Robert Cooney, Brian Walford and Bruce Connell getting $2.8 million, $2.7 million, $880,678 respectively.

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