Now fully under the aegis of insurance giant American International Group (AIG), Starr Excess Liability Insurance Co. is making steps to increase its competitiveness in the reinsurance market.

AIG, which in February purchased the 76 percent of Starr it didn't already own, has also made some top corporate appointments to lead the company. Kevin Kelley, chairman of AIG Boston-based subsidiary Lexington Insurance Co., has been appointed as chief executive officer of Starr.

Lexington vice president Jack Gould, who is also based in Boston, becomes Starr's chief operating officer. Joseph Johnson, American International Company Ltd.'s president and chief executive officer, remains as president of Starr. He previously also held the chief executive officer position.

Meanwhile Bermuda-based Starr is in the process of being re-incorporated in the state of Delaware in the US. Executives won't say where the company is going to be run from until the Delaware incorporation is approved.

However an job advertisement in The Royal Gazette indicates the Bermuda headquarters at the AIG building will remain in operation as a branch office.

The advertisement is for a Bermuda branch manager. The manager will also be an excess liability product line manager. The advertisement states the person hired will report to the chief operating officer and senior executive officer in Boston, Massachusetts.

Starr wants to use the US platform to access the North American market directly. The move mirrors those of ACE Ltd. and Exel Ltd., Starr's main Bermuda competitors, which have already established US subsidiaries to get business the companies felt wasn't coming to the Island. In another move, Starr has also opened a new office in Dublin, which is currently staffed by a general manager and some representatives. The company is called Starr Excess International. Starr has an already established London services operation.

As part of its marketing strategy, Starr announed yesterday the launch of a financial lines excess package which allows clients to buy a single umbrella policy covering a mix of general liability, directors and officers, professional, employment practices, and fidelity and pension trustees coverages.

"To our knowledge, this is the first time anywhere in the world that all the major liability classes have been offered in a single policy,'' the company stated in a press release.

The umbrella package, called Omni Gold, has a minimum attachment level of $25 million for the general liability part, and $10 million for the rest. Last fall Starr launched a similar financial lines policy that has been renamed Omni Silver. That product was subject to a minimum attachment point of $10 million. Policy limits of $25 million are available on both the Gold and Silver products.

The company has also expanded its occurrence coverage for core general liability, for clients with risks in the low to moderate exposure range. The policy will cover losses even if the claim is made after the policy period expired.

"This is a new departure for the excess casualty insurers in Bermuda, who have hitherto insisted on writing on their own `occurrence reported' policy forms, and comes in response to a clear trend amongst buyers to preferring the `occurence' wording,'' the company stated.

Starr had assets of $656.4 million at year end December 31, and net written premiums of $94.3 million.