company's operations in London. He is also set to take over as managing director of NAC Re International, a London-based subsidiary of NAC Re Corp.

whose merger with XL was completed last month.

The XLMO branch writes marine and aviation excess of loss while the NAC Re International unit underwrites international property and casualty reinsurance and international facultative business.

Together the two groups employ about 45 people. NAC Re International managing director Charles Catt is to leave the company on October 1, after Mr. Veghte steps into his shoes. Mr. Catt joined NAC Re in 1993 and helped found the NAC Re International subsidiary.

BUSINESS BUC