operations to the new East Broadway development.

Company senior vice president and CFO Keith Hynes said the company's move to Lane House, to be renamed Renaissance House, is anticipated before the end of the month.

RenaissanceRe has signed a multi-year lease with the property's owner, Villa Development Company Ltd.

The development includes 18,000 square feet of office space on just over one-third of an acre. The property has 250 feet of water front.

Pursuant to the Clean Air Rules 1993, RenaissanceRe recently made application to the Environment Authority for a permit to construct a 100 kilowatt backup diesel generator at the site. Under the gazetted notice of intention, dated September 6, anyone objecting to the generator has 20 days to respond.

RenaissanceRe, currently located in Sofia House on Church Street, will use well over half the 18,000 feet of space and sublet the remainder, Mr. Hynes said.

About one year ago, the company began searching for a larger location to accommodate a growing operation.

RenaissanceRe, whose operating company is Renaissance Reinsurance Ltd., was set up in 1993 and went public last year.

The multi-million East Broadway development, which connects historic Lane House, the old Waterfront restaurant and East Cottage, was to be a 58-room waterfront hotel.

But Villa president Tony Smith shelved the hotel proposal.

Last year, then Environment Minister Gerald Simons cleared the way for development of the site by overruling an earlier Development Applications Board (DAB) decision which called for on-site parking.

The oldest part of Lane House dates back to 1760, Mr. Smith said.

Bermuda cedar beams as well as three 15-20 foot Bermuda Palmetto trees, removed during the development, were saved, he said.

"We've gone to great lengths to preserve and save.''