catastrophe reinsurance division, as Tempest Re chairman, Donald Kramer, is moving to a new position within the ACE group.

ACE announced months ago that a strategic business development unit was being set up in the US after the group purchased Tarquin Ltd., the UK-based holding company which owns Lloyd's managing agency Charman Underwriting Agencies Ltd.

and Tarquin Underwriting Ltd., its corporate capital provider.

Mr. Kramer is expected to run the new strategic business development unit along with Leslie Goodman.

Mr. Kramer came to ACE through the company's 1996 purchase of cat reinsurer Tempest Re.

He was co-chairman of Tempest at the time and backed ACE in a battle for control of the company waged by AIG chairman Maurice Greenberg.

Mr. Greenberg's AIG, an original investor in Tempest, thought ACE was not paying enough for the reinsurer, and tabled a counter proposal for Tempest through IPC Re, AIG's Bermuda-based cat reinsurer.

It pushed the compensation up from the $600 million in stock that ACE first thought was a deal, to the nearly a billion dollars it eventually paid for Tempest.

Mr. Kramer continued as boss of ACE's new cat reinsurer after the March, 1998 announcement of ACE's further purchase of competing cat reinsurer, CAT Ltd.

for $711 million in cash.

By the time the new purchase was assimilated into the ACE household, the group's cat reinsurer alone boasted a billion dollar balance sheet, under the guidance of Mr. Kramer.

Leslie Goodman was chief executive of Methuen Group Ltd., the holding company for Methuen (Lloyd's Underwriting Agency) Ltd. when ACE began acquisition of the leading Lloyd's managing agency in January 1996.

He later became the ACE UK unit's chief executive until it was announced this June that he would become involved in a strategic business development unit at ACE Ltd.

ON THE MOVE -- ACE Ltd.'s Donald Kramer