Centre Solutions (Bermuda) Ltd. has lost another top executive to Stockton Reinsurance Ltd.

This time it is Bermudian Michael Cash, who has swapped a vice presidency at Centre Solutions for one at Stockton Re.

He joins Daniel Malloy, who this April left Centre Solutions to become president and CEO of Stockton Re, heading the underwriting company.

Mr. Malloy had been chief underwriting officer and senior vice president of Zurich Reinsurance North American finite reinsurance division, and had been a Centre Re (now renamed Centre Solutions) president.

Mr. Malloy said, "We are pleased that Mike Cash has decided to join Stockton.

One of my mandates since coming on board is to add to our existing staff of senior professionals.'' Mr. Cash was one of the first Bermudians to obtain an ACAS (Associate of the Casualty Actuarial Society) designation, after beginning an underwriting career with Centre Re.

He progressed from an actuarial student to vice president of the firm in just six years, recently providing a significant contribution to the first `cat' bond issued in 1998.

Robert G. Easton, chairman of Stockton Re parent, Stockton Holdings Ltd., commented, "We are pleased with the continued development of our management.

Coupled with our existing professional staff of actuaries, underwriters and lawyers, we are delighted with Dan's efforts in developing the team which will maintain our position as the independent provider of choice for our clients.

Meanwhile, Stockton Re has also taken on Dane Commissiong to fill the new position of treasurer, after 15 years in treasury and banking.

And Stockton Re's London representative office is to be joined July 1 by analyst Carl Draper FCII, after a decade in reinsurance that included working with the Cox Group in Lloyd's as an underwriter.

Stockton Re is one of the largest independent providers of insurance and reinsurance finite risk products, along with traditional covers. Finite risk contracts are preferred by clients who like to manage their own risks.

They are usually multi-year, multi-line contracts that include an aggregate limit of liability and profit sharing for favourable business.

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