Facultative Underwriting at Skandia America, will join Zurich Reinsurance Centre, an underwriter in the North American market for brokered traditional property and casualty reinsurance, on July 19, 1993, as senior vice president and director of Facultative Operations.

ZRC, which is owned by Bermuda-based Centre Re, has expanded its per risk facultative casualty capacity, which involves the reinsurance of part or all of a single policy or single risk, from $2.5 million to $5 million, effective on July 1 and plans to locate this business in Manhattan.

ZRC will maintain a facultative branch office in Stamford, Connecticut, and plans to open three additional branch offices in the US during 1993.

Mr. Steven Gluckstern, chairman and president of ZRC, which is owned by Bermuda-based Centre Re, said: "Jerry's leadership and management ability combined with his extensive experience in facultative underwriting make him an ideal candidate to spearhead this expansion.

"In the near future, we see the facultative business as an important underwriting unit of ZRC and, at this time, we feel we are well positioned in the marketplace and adequately capitalised to play an increasing role.'' Mr. King joined Skandia America in June, 1990, as part of that company's acquisition of Facultative Managers, where he was president and a director.

Before joining Facultative Managers, he held several facultative and primary insurance underwriting positions.

*** Mr. Albert Moura has joined the sales department at real estate firm Rego Ltd.

Mr. Moura previously spent one and a half years in the construction division of Creative Interiors.

Prior to that, he used to own Finishing Touch, a window treatment and installation company.

Mr. Albert Moura.