financial strength ratings to ACE European Markets Reinsurance. S&P announced the rating this week, which also applies to ACE's wholly owned subsidiary ACE European Markets Insurance Ltd.

Strong ties to ACE Bermuda Insurance Ltd. helped the company. Both are considered to be core to the ACE Group as they operate as a division of ACE Bermuda, with that company's "implicit and explicit'' backing, S&P said.

Y2K LAWS EYED BUC Y2K laws eyed Insurers have watched closely as US President Bill Clinton signed legislation this week to protect companies against Y2K lawsuits. The new laws on the books will delay the filing of such suits arising out of Year 2000 computer breakdowns for up to 90 days to give companies a bit of breathing space and allow them time to fix such problems.

Estimates suggest Y2K-related litigation could cost over $1 trillion but it is hoped the legislation will prevent such lofty figures.

The legislation is designed to stop lawyers slapping opportunistic and lengthy cases against businesses whose productivity is central to the US economy.

MRM DIVIDEND BUC MRM dividend Bermuda-based Mutual Risk Management Ltd. announced its third quarter dividend of six cents per share yesterday.

It will be payable August 20 to shareholders of record on August 6.

MRM trades under the symbol MM and its common shares are listed on the New York and Bermuda Stock Exchanges.