The main attraction at this week's Bermuda Insurance Symposium (BIS), American International Group (AIG) chairman Maurice (Hank) Greenberg has cancelled but will be replaced by his right hand man Thomas R. Tizzio.

Organisers of the World Insurance Forum said: "We regret to announce that AIG chairman and CEO Maurice R. Greenberg will not be the keynote speaker but will be replaced by Thomas R. Tizzio, senior vice chairman, AIG."

Mr. Tizzio was elected senior vice chairman of AIG in May 1997, with responsibilities for AIG's worldwide general insurance business. Prior to that he had been president, responsible for AIG's worldwide property-casualty insurance operations. He is also a member of the Board of Directors of AIG.

Following the news that Overseas Partner Ltd. (OPL) is to close up shop in an "orderly runoff", there was also some doubt that OPL CEO Mary Hennessy would still present at the symposium.

Ms Hennessy is slated to speak at the BIS as part of a panel speaking on "Bermuda Greenhouse - Today's solutions for tomorrow's problems".

When asked last week if she would keep that engagement, Ms Hennesey said: "Our priorities right now are to help our staff come to terms with this difficult decision. At the same time we are committed to finding alternative employment for our finite and A&H underwriting teams and a new partner for OPUS. To the extent I am unable to participate in the panel discussion, I will ask one of my OPL partners to stand in for me."

There was also some question about the participation of Bob Forness, vice president of the bankrupt Enron.

However, Bermuda Insurance Symposium project coordinator Suzie Pewter confirmed that he is still scheduled to be part of the "Darwinian E-Commerce" panel that will take place on Thursday at 2 p.m.

Bermuda's XL Capital Ltd. (XL) last week confirmed the participation of five of its senior executives who are scheduled to participate in the symposium.

Michael A. Butt, a director of XL, is scheduled to moderate a World Insurance Forum round table discussion on February 20 as industry leaders define and debate the insurance industry's major issues.

Robert Lusardi, XL's chief executive officer of Financial Products and Services, will be one of a panel of six to address the topic, "Convergence - Cooperation or Competition?" on February 21.

Jeffrey Bortniker, chief executive officer of Element Re Capital Products Inc., and Dan Sussman, chief underwriting officer of XL financial solutions,. are also scheduled to participate in a panel discussion on February 21, "Bermuda Greenhouse - Today's Solutions to Tomorrow's Problems".

Henry C.V. Keeling, chief executive of reinsurance operations for XL and president and CEO of XL Re Ltd. is scheduled to moderate on February 22 an open assembly for forum attendees, titled "Our World Of Risk Has Changed".

Many of the industries top executives will also be on hand for the symposium which tees off tomorrow with a golf tournament at Riddells Bay Golf and Country Club.

The four-day Symposium, being held at the Fairmont Southampton Princess - will wrap up on Friday morning with an open discussion session on the changed world of risk.

Other highlights include the afternoon of February 20 when Chris Duncan, vice president of finance and chief risk officer for Delta Airlines will join a timely roundtable session of major buyers who will offer their perspectives on key issues and needs, and Mr Duncan will comment on the convergence of two industries, airlines and insurance, at the anvil point of war risk in aviations.

Mr. Duncan said: "The events of 9/11 generated a crisis of unparalleled scope in two different industries, creating a nexus of chaos and financial stress never seen before.

"Before 9/11, the only common thread between airlines and insurance companies was an uncommon ability to take large amounts of money and turn it into small amounts of money."

The symposium will also be webcast live (audio only) and can be accessed through the symposium website.

Visit www.bis.bm for the latest schedule of events, sessions, sponsors, trade-show exhibitors and press releases.