Terra Nova chairman, Mr. William O. Bailey, said, "We are most fortunate to have someone with John Dwyer's proven ability and experience join John Riddick, managing director of Terra Nova (UK) Insurance Company and me in the development of the Terra Nova group.

"Our plan to build a significant Bermuda presence will be speeded by his leadership.'' Mr. Dwyer has spent his entire career with Aetna Life and Casualty. He joined Aetna in 1960 and, over the years, assumed increasing responsibility in claim and national accounts and bond underwriting.

He closed his Aetna career as head of Aetna's property and casualty claim department. While at Aetna, Mr. Dwyer served as director of Executive Risk Inc., the Association of America and the National Insurance Crime Bureau.

Terra Nova (Bermuda) Holdings Ltd. was formed at the end of 1994 as the holding company of the newly formed Terra Nova (Bermuda) Insurance Company and the 25 year old Terra Nova Insurance Company in London, England. The group writes a worldwide book of property, casualty and marine business with combined assets of about a billion dollars.

Mr. John J. Dwyer