Organisational restructuring at Bermuda-based Mid Ocean Ltd., has included the promotion of Henry CV Keeling to president, chief operating officer and chief underwriting officer of wholly-owned subsidiary, Mid Ocean Reinsurance Co.

Ltd. (Mid Ocean Re).

Mid Ocean Ltd. president and CEO, Michael A. Butt, was also named chairman of Mid Ocean Re, where he is also CEO.

Mid Ocean has made several changes to provide a more suitable structure for its operations following the acquisition of The Brockbank Group Plc.

A new Mid Ocean subsidiary has been incorporated, Mid Ocean Holdings, which will be the holding company for Mid Ocean Re and The Brockbank Group Plc.

Mid Ocean Ltd. chairman, Robert J. Newhouse, is also chairman of the new holding company and Mr. Butt has been named president and CEO.

The board of directors of Mid Ocean Holdings Ltd. will consist of Mr.

Newhouse, Mr. Butt, Mr. Keeling and Mark Brockbank, CEO of The Brockbank Group Plc.

Mr. Brockbank is vice chairman of Mid Ocean Holdings Ltd. and Charles F. Hayes is executive vice president, chief financial officer and chief administrative officer.

Mr. Butt commented: "Mr. Keeling's promotion is in recognition of the outstanding role he has played as chief underwriting officer, as well as in the development and implementation of our corporate strategy.

"The creation of Mid Ocean Holdings Ltd. will provide us with a more suitable structure for our expanding operations and position us for the further development of our business.

"Mr. Brockbank, as chief executive officer of The Brockbank Group Plc, is a valuable addition to this new structure.'' Promotions at Mid Ocean Reinsurance Co. include Greg Hendrick and Dr.

Svend-Holger Friis, both to vice president, underwriting.

There are three new assistant vice presidents, including Stephen A. Smith in claims, Paul Simons in underwriting and Richard D. Johnson in finance and administration in the UK branch.

Mid Ocean Ltd. has declared a regular quarterly cash dividend of 75 cents per common share, payable October 9 to shareholders of record September 22.

Through its subsidiaries, Mid Ocean Ltd. is a global provider of insurance and reinsurance to a diverse client group, writing reinsurance in property catastrophe, property risk excess of loss, property pro rata, marine, energy, aviation, satellite and other lines. Mid Ocean Re is based in Bermuda, but has branch operations in London and Singapore, and an office in Munich.