President of Chubb Atlantic Indemnity, Mr.

John B. Stites, said: "The increased capital reflects Chubb's long-term commitment to the Bermuda market place, as well as its commitment to its clients.'' A wholly-owned subsidiary of the Chubb Corporation, the company offers a variety of products on either a direct or reinsurance basis to provide its customers with highly customised coverages that are often unavailable in the standard commercial marketplace.

Unlike many offshore companies, in its ability to offer both primary and excess layers of coverage with no predetermined minimum attachment points, Chubb Atlantic provides coverage that includes excess liability, Directors and officers liability, property and bankers professional liability.

Chubb is on the verge of introducing several new products. Targeted customer groups include financial institutions, electronics, biotech, energy, manufacturing, retail and service which mirror Chubb's traditional appetite.

Chubb Atlantic complements the Chubb Group of Insurance Companies' financially strong worldwide underwriting operation and its growing activity in the alternative risk market.