Quanta Capital Holdings ? a Bermuda reinsurer that has seen a wave of senior resignations including its chief executive officer and chief financial officer quitting in the last six months ? yesterday said chief claims officer Mark Cloutier left the company within the last month.

Spokesperson Sabrena Tufts confirmed, in a telephone interview yesterday, that Mr. Cloutier, who was also head of the Bermuda operations, had left, becoming the seventh executive to quit a senior post in the last year.

The development leaves no one at the helm of the Bermuda office for the second time since October. Mr. Cloutier joined Quanta as chief claims officer ten months ago.

He took up oversight for the Bermuda operations within the last three months, replacing former Bermuda-based Quanta reinsurance executive David Whiting.

And it was not clear yesterday who is now Quanta Bermuda?s principal representative, as required under the Bermuda Insurance Act.

Mr. Whiting was the last principal representative on record, a search of Quanta?s regulatory filings with the US Securities and Exchange Commission showed. Scott J. Bradley, president of Quanta Reinsurance US Limited, a smaller Bermuda-based reinsurance subsidiary, is that unit?s principal Bermuda representative.

?We are in the process of looking for a replacement? for the posts vacated by Mr. Cloutier, Ms Tufts said from Quanta?s New York office. ?There are a number of our senior people there (in Bermuda) and our interim CEO spends a great amount of time down there.

He was there last week.?

Investors have reacted to Quanta?s management issues and financial woes ? the company has seen losses in the region of $135 million from hurricane claims over the last two years ? by cutting the value of the company?s shares.

Quanta?s share price has fallen in the last year from $10 to $5.52 in composite trading on the Nasdaq yesterday.

The company has estimated losses of up to $83.5 million from 2005 hurricanes Katrina, Rita and Wilma. In 2004 Quanta recorded losses in the region of $50 million from hurricane claims. Quanta is expected to release its fourth quarter earnings report on March 1.

About a year ago, Quanta?s chief operating officer Michael Murphy was named to a different post, chairman, office of strategic initiative.

The COO post has not been filled to date. In July, chief financial officer John S. Brittain quit. Jonathan Dodd permanently filled that position five months later.

And in November chief executive Tobey Russ, Quanta?s founder, resigned.

One of Quanta?s board of directors, Robert Lippincott III, was named interim CEO. On the reinsurance side, Mr. Whiting and Rick Paganani, global head of Quanta?s reinsurance operations, left Quanta in recent months to form a new Bermuda reinsurer, Ascendant Reinsurance Co. Ltd. And in December, John Welter, president and chief underwriting officer for Quanta?s environmental liability division quit.

And Quanta is short on independent directors after Mr. Lippincott took up a management position and a second director, Wallace Timmeney, retired, putting Quanta in violation of its requirements for being listed on the Nasdaq.