Stirling Cooke Names Crane President & CEO

The board of directors of Bermuda-based Stirling Cooke Brown Holdings has elected Stephen Crane as president and chief executive officer, effective immediately. Stirling Cooke's Chief Operating Officer Len Quick, who has served as interim chief executive officer since July, made the announcement.

Quick will continue as chief operating officer and Nicholas Mark Cooke will retain his role as non-executive chairman. ``Stephen Crane possesses exceptional knowledge of the business and has an established record of accomplishment in the property-casualty insurance and reinsurance fields,'' Len Quick commented. ``He also has outstanding credentials in strategic planning and implementation. These strengths will serve our Company well.''

Prior to joining Stirling Cooke, Crane served for five years as president and chief executive officer of Gryphon Holdings, a specialty property-casualty underwriting organization that was acquired earlier this year by Markel Corporation.

Previously, he was president and chief executive officer of Willis Corroon Corporation's Reinsurance Brokerage Group and of its main unit, G.L. Hodson & Son, Inc., after having been chief financial and planning officer of Corroon & Black Corporation, a predecessor of Willis Corroon. Before joining Corroon & Black, he was senior vice president and chief financial officer of Orion Capital Corporation.

Crane stated, ``Len Quick and his team have done an excellent job of addressing the issues that have challenged Stirling Cooke in its main area of specialization. Much restructuring and streamlining has been accomplished but we recognize that much remains to be done to return the company to its historic levels of profitability. With Len and other key managers, we will create a new vision for the company and execute a strategic plan that will capitalize on our strengths and create greater value for shareholders.