yesterday. Mr. Bibbings was a senior vice president of the Bermuda-based company and has been in charge of the primary portfolio since joining Scandinavian in 1993.

"We have been pleased with the development of that segment during these years of an ever softening market,'' Scandinavian's president and chief executive officer Jens Juul stated in a press release. "We shall miss Tony but fully appreciate his view that a continued career in the US is attractive at this stage of his professional life.'' Chief financial officer Mark Kaplen will assume Mr. Bibbings' duties. Mr.

Kaplen will give up most of his duties as chief financial officer over a period of time.