Centre Reinsurance (Bermuda) Ltd. has taken a roughly ten percent equity stake in Tri-City Brokerage, Inc., the largest independent wholesale insurance distributor and marketing specialist in the US. The sale was effective October 31, although no terms were made public.

San Francisco-based Tri-City president and CEO, John G. Hahn, said: "Access to a non-traditional, leading-edge insurance and reinsurance provider like the Centre Re group gives Tri-City the added dimension we've been looking for.

"We are constantly searching for new ways to create revenue streams for our clients, and this match opens up a number of possibilities. The capital raised from this partnership also helps Tri-City to actively fund new investments and future expansion.'' Tri-City now plans to diversify in order to become a more broad-based distributor, particularly in the areas of programme business and managing general agency contracts.

Tri-City said the transaction will "positively impact'' its relationships with existing markets, and it will continue to work closely with those markets to grow their relationships.

Mr. Hahn said: "Centre Re's vision for the future lines up very closely with our own, and we are looking forward with great pride on the potential of this partnership.'' Tri-City had 1996 annual premium volume of $446 million, distributing casualty, property, marine and energy, financial services and employee benefits products.