International Risk Management (Americas), Inc. has helped form Maine's first captive insurance company.

The captive, Banc One Private Mortgage Insurance Co., Inc. will reinsure private mortgage insurance placed on mortgage loans originated by Bank One, NA or its affiliates.

IRMG teamed up with Banc One Insurance Group, actuaries Millman & Robertson, and attorneys Suter & Hepner in proposing the captive to Maine regulators.

"The partnership with the mortgage insurers resulting from this quota share reinsurance is a natural evolution of the mortgage insurance industry,'' IRMG spokesman Peter Joy stated. "The additional capital that now underpins the mortgage insurance, as well as the increased incentive to diligently underwrite the mortgage originations can only benefit both the consumer and the industry.'' IRMG is one of the world's largest independent manager of captive insurance companies.

SONESTA REWARDS LOCAL COMPAINES TOU Sonesta rewards local companies Members of local companies who sent business to the Sonesta Beach Resort last year were rewarded for their efforts with a party shortly before Christmas.

More than 40 members of the "Sonesta Means Business'' rewards programme attended the party at the hotel's Boat Bay Club.

Sonesta vice president and managing director Dennis Tucker said: "Many loyal, local customers send us their business travellers throughout the year and we wanted to thank them for their support of our hotel.'' American International's Cindy Laws received a certificate for 25,000 Sonesta Means Business bonus points in recognition of her ranking as the top booker among 1998 programme participants.

The points are redeemable for free stays, dinners, spa treatments and other services at Sonesta Bermuda and at other Sonesta hotels.

The Sonesta Means Business programme offers business travellers to Bermuda special rates and services when they stay at Sonesta.

Programme members work for local firms and receive bonus points each time they refer their companies' visitors to Sonesta.

BERMUDA'S WHO'S WHO NOW ON SALE BKS BUC Bermuda Who's Who now on sale The annual edition of the Bermuda Who's Who is now on sale. The listing of Bermuda's business and political leaders is published by Bermuda Marketing Ltd., and features a special section titled "The New Order'', a listing of the politicians who were elected and appointed after the November election.

The handbook, which sells for $7.95, features short biographies and pictures of 1,000 business and political professionals in Bermuda.

"The Who's Who has become an indispensable desktop accessory, and it should be even more helpful with the change of Government and all that has entailed,'' publisher Ian Coles stated in a press release.

HUMPHREYS TAKES UP NEW POST APP Humphreys takes up new post Bill Humphreys, managing director of Royal Trust (Bermuda) Ltd., a subsidiary of Royal Bank of Canada Group, is leaving the Island to take up a new position in London.

He will be a senior manager at Royal Bank of Canada Europe Ltd. running the private banking unit. Jean-Claude Emard is slated to replace Mr. Humphreys in Bermuda on February 1, subject to immigration and regulatory approval.

Mr. Emard led the bank's private banking unit in London for the past three years.