alliance to provide run-off management services for the international insurance industry from offices in Bermuda, London, New York and Chicago.

Travelers has gone into business with Rodney-Smith and Partners Ltd., which has an office in Bermuda.

Mr. William Storie, president of Rodney-Smith and Partners (Bermuda) Ltd.

said: "We are delighted to have formed this strategic alliance with such a prestigious organisation as Travelers.

"The name of Travelers is widely known and highly respected as a recognised leader throughout the world of insurance.'' Marketing of the combined services is expected to begin this month in Bermuda, the United States, the United Kingdom and Europe.

The services will be administered by Travelers Special Liability Group, in Connecticut, and several offices of Rodney-Smith and Partners.

Under the agreement, the companies will offer complete run-off administration, claims resolution and management services.

These services will include technical reinsurance consulting and specialised environmental claims handling.

Co-ordination of the alliance will be directed by Mr. Storie and Mr. James Morgan, vice president of The Travelers Special Liability Group.

"This agreement represents the first external marketing initiative of Travelers Specialty Liability Group,'' said Mr. Morgan, who said his group has been providing specialised run-off services to other Travelers divisions for several years.

In a joint statement, Mr. Storie and Mr. Alan Morrison, vice president of Rodney-Smith and Partners (Bermuda), said: "We're extremely excited by the many opportunities this new alliance has presented, particularly in the captive insurance company market.'' Mr. Storie said the nature of the exposures faced by many captive insurers and reinsurers has become increasingly complex in recent years.

He added: "Many companies simply don't have the resources or expertise to handle the incredible volume of pollution and asbestos claims being filed not to mention many of the developing areas of litigation currently on the horizon. The Travelers brings that expertise to the table.

"We fully intend to utilise every resource we have at our disposal to develop a strong marketing effort both in Bermuda and internationally.

"Our operations teams consist of industry professionals who have significant knowledge and experience of every aspect of major run-offs.

"Our teams have handled claims administration, systems, all areas of accounting, reinsurance collections, inspections and commutations.

"We now have a full complement of almost 400 market professionals and support staff within our combined office network.'' NEW COMPANY -- Pictured (left to right) are Mr. Julian Ward, president of Rodney-Smith and Partners (US), Inc.; Mr. William Storie, and Mr. Jim Morgan and Mr. Mike Moody, both of The Travelers Corporation. Mr. Alan Morrison.