the largest independent broker on the Island with a premium value in excess of $100 million.

H & H Reinsurance Brokers Ltd and Park International Ltd have joined forces to form H & H Park and will have a combined brokerage of over $10 million.

The merger will bring together two teams which have traditionally worked in very different markets under the umbrella company of Mutual Risk Management.

H & H Re, a subsidiary of Mutual Risk Management, has concentrated in alternative risk markets, essentially working in captives and rent-a-captives, while Park worked mainly with large per-risk insurance placements such as Ace and XL Capital and treaty reinsurance.

"It is a classic case of one plus one making more than two,'' said Paul Scope, chairman of Park, who will now take up the role of chief executive officer of the newly formed business. The new company, H & H Park, will be made up of 13 employees and will see H & H staff and Park staff working side by side in the Hamilton offices.

According to Simon Everett, the president of H & H, who will now take on the role of chairman of H & H Park, the merger will bring some of the most experienced brokerage workers on the Island under the same roof.

He said: "I believe the merger will enable us to support our markets in Bermuda, the USA and Europe to a far greater extent.'' The new Mutual Risk Management company has also forged closer links with MRM Hancock through the formation of a brokerage holding company MRM Specialty Brokerage Ltd.

This holding company will oversee all the brokerage companies owned by Mutual Risk Management group.

Mr. Scope and Mr. Everett will also become joint managing directors of MRM Specialty Brokerage, along with Phillip Hancock.

"We are very excited with this merger. There has a already been a smooth transition of personnel and there is a tremendous motivation for us to continue to grow with the Bermuda market.'' Mr. Everett said: "There is no overlap in the two businesses and we now have great expertise in several areas.'' Brokering a deal: Paul Scope (left), chairman of Park will now become chief executive officer of H & H Park, while Simon Everett (right) president of H & H will become chairman of the newly formed company.