Two insurance industry leaders announced today they had formedan underwriting management company to take advantage of what theysee as a "rapidly changing insurance industry marketplace."

Joining forces to launch New Asset Class Management are James N.Stanard, former chief executive officer of Renaissance Re, and RodFox, former CEO of Praetorian. The operation will be wholly ownedby F&S Ventures, a privately held investment company.

The amount of the company's starting capital or projectedfirst-year earnings was not disclosed. It is based in Greenwich,Conn.

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