to 75 cents a share from 41.25 cents a share, or 82 percent, the company announced last week.

"Today's dividend increase reflects the company's continued progress and the board's long-term confidence in the future prospects of the company,'' Mid Ocean president and CEO Michael Butt said.

Mid Ocean, through its subsidiary, Mid Ocean Reinsurance Company Ltd., is a leading reinsurer providing property catastrophe, property risk excess of loss, property pro rata, marine, energy, aviation, satellite and other reinsurance. Mid Ocean is the majority shareholder in the Brockbank Group and has provided corporate capital to Lloyd's syndicates managed by Brockbank's managing agencies.