ACE Limited vice-chairman Donald Kramer (pictured) is scheduled take part in a property casualty insurance panel discussion at next week's Fox-Pitt, Kelton Pinehurst Conference in North Carolina.

The event is to be held on Tuesday, September 23, at 8.30 a.m. (Bermuda time).

A live audio webcast of the panel discussion will be available on the company website www.acelimited.com under the investor relations part of the site.

The archived audio webcast will be available for a month after the event.

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The Bermuda Stock Exchange announced yesterday that several directors of a group of MRM Funds were stepping down and the exchange also listed their replacements. MRM Reserve Fund Ltd., MRM International Convertible Bond Fund Ltd., MRM Liquid Assets Fund Ltd have advised the Bermuda Stock Exchange (BSX) that Messrs.

Robert Mulderig, Thomas Healy, Stephen Caton, Paul Watson, Angus Ayliffe have resigned their positions as directors of these funds.

The resignations became effective as of 8th August 2003.Stepping in as new directors for these funds was Hugh Barit, Shawn Murphy, James Keyes and Jeremy Bond were appointed Directors of each Fund effective on the same day.

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AXIS Capital Holdings Limited yesterday declared a quarterly dividend of seven cents per common share. The dividend, which is due to shareholders as of September 30, 2003, is to be paid out on October 14, 2003.

XL Capital Ltd has created a new post of chief risk officer to manage risks across the company.

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Paul D. Dowden was yesterday named senior vice president and chief risk officer of the company.

Since 2002, Mr. Dowden has been senior vice president and group underwriting risk officer of XL.

His key responsibilities will include the identification, coordination and management of underwriting, operational and other risks across the group.

Mr. Dowden will also serve as chairman of XL's risk management committee and, in that capacity, report to Mr. Brian M. O'Hara, chief executive officer of XL.

Mr. O'Hara said: "Paul Dowden has made significant improvements to our management of underwriting risk over the past year as well as being a tremendous asset to XL in his various senior management roles before that.

"Paul's knowledge and experience make him an ideal candidate for this new position which we have created to strengthen our ability to optimise our performance through effective risk management.

"I look forward to working with Paul and would like to congratulate him on his new position."

Mr. Dowden joined XL in 1995.

Prior to joining XL, he spent 13 years in various senior management positions in the London insurance market.