-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JGFpea6voO6hpHYthLPuvtIxVQtCnCWSwQz8RRRxWtyl4lD8Rq2acjln4N/1NXPy B2gXH2iOn13DMnGqQdtbog== 0000922423-99-001202.txt : 19991019 0000922423-99-001202.hdr.sgml : 19991019 ACCESSION NUMBER: 0000922423-99-001202 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991018 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PXRE GROUP LTD CENTRAL INDEX KEY: 0001091748 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-57013 FILM NUMBER: 99730112 BUSINESS ADDRESS: STREET 1: CLARENDON HOUSE STREET 2: 2 CHURCH STREET MAILTON HM CX CITY: BERMUDA MAIL ADDRESS: STREET 1: CLARENDON HOUSE STREET 2: 2 CHURCH STREET HAMILTON HM CX CITY: BERMUDA FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SELECT REINSURANCE LTD CENTRAL INDEX KEY: 0001036518 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: CORNER HOUSE STREET 2: 20 PARLIAMENT ST 4TH FL HAMILTON CITY: HM 12 BERMUDA STATE: D0 BUSINESS PHONE: 4412968453 MAIL ADDRESS: STREET 1: CORNER HOUSE STREET 2: 20 PARLIAMENT ST 4TH FL HAMILTON CITY: HM12 BERMUDA SC 13G 1 SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 --------------------- SCHEDULE 13G Under the Securities Exchange Act of 1934 -------------------- PXRE Group Ltd. (Formerly PXRE Corporation) (Name of Issuer) Common Stock, par value $1.00 per share (Title of Class of Securities) G73018106 (CUSIP Number) October 8, 1999 (Date of Event Which Requires Filing of the Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 7 pages SCHEDULE 13G CUSIP No. G73018106 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Select Reinsurance, Ltd. - ------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP (a) |_| (b) |_| - ------------------------------------------------------------------------------- 3) SEC USE ONLY - ------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda - ------------------------------------------------------------------------------- NUMBER 5) SOLE VOTING POWER OF 1,112,200(1) SHARES BENEFICALLY 6) SHARED VOTING POWER OWNED BY None BENEFICIALLY EACH 7) SOLE DISPOSITIVE POWER REPORTING 1,112,200(1) PERSON WITH 8) SHARED DISPOSITIVE POWER None - ------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,112,200(1) - ------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.47% - ------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON OO - ------------------------------------------------------------------------------- - ---------------- (1) Voting and dispositive power is exercised through its sole investment advisor Mariner Investment Group, Inc. and accordingly may be deemed to share voting and dispositive power. Page 2 of 7 pages SCHEDULE 13G CUSIP No.G73018106 1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Mariner Investment Group, Inc. - ------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP (a) |_| (b) |_| - ------------------------------------------------------------------------------- 3) SEC USE ONLY - ------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION New York - ------------------------------------------------------------------------------- NUMBER 5) SOLE VOTING POWER OF 1,112,200(2) SHARES BENEFICIALLY 6) SHARED VOTING POWER OWNED BY None EACH REPORTING 7) SOLE DISPOSITIVE POWER PERSON 1,112,200(2) WITH 8) SHARED DISPOSITIVE POWER None - ------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,112,200(2) - ------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES |_| - ------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.47% - ------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON OO - ------------------------------------------------------------------------------- - ------------------ (2) Voting and dispositive power is exercised solely in its capacity investment advisor of Select Reinsurance, Ltd. Accordingly, Mariner Investment Group, Inc. may be deemed to share voting and dispositive power. Mr William Michaelcheck is 100% shareholder of Mariner Investment Group, Inc. and Chairman of the Board of Select Reinsurance, Ltd. Page 3 of 7 pages Item 1. (a) Name of Issuer: PXRE Group Ltd. (Formerly PXRE Corporation) (b) Address of Issuer's Principal Executive Offices: PXRE Group Ltd. Claredon House 2 Church St. P.O. Box HM 666 Hamilton HMCX, Bermuda PXRE Corporation 399 Thornall Street, 14th Floor Edison, NJ 08837 Item 2. (a) Name of Person Filing: This statement is filed on behalf of Select Reinsurance, Ltd. and Mariner Investment Group Inc. See attached Exhibit A which is a copy of their agreement in writing to file this statement on behalf of each of them. (b) Address of Principal Business Office or, if None, Residence: Select Reinsurance, Ltd. Corner House 20 Parliament Street, 4th Floor Hamilton, HM 12 Bermuda Mariner Investment Group, Inc. 65 East 55th Street New York, NY 10022 (c) Citizen: Select Reinsurance, Ltd. is a citizen of Bermuda and Mariner Investment Group, Inc. is a citizen of New York. (d) Title of Class of Securities: Common Stock, $1.00 par value ("shares"). (e) CUSIP#: G73018106 Page 4 of 7 pages Item 3. Check the box if this statement is filed pursuant to Rule 13d-1(c) Item 4. Ownership: For information concerning the ownership of Common Stock of the Company by the Reporting Persons, see Items 5 through 9 and 11 of the cover pages to this schedule 13G and footnotes thereto. Item 5. Ownership of Five Percent or Less of a Class: Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person: Not applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported On By the Parent Holding Company: Not applicable. Item 8. Identification and Classification of Members of the Group: Not applicable. Page 5 of 7 pages Item 9. Notice of Dissolution of Group: Not applicable. Item 10. Certification: By signing below I certify that to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Page 6 of 7 pages SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. SELECT REINSURANCE, LTD. By /s/ Jeffrey Radke --------------------------- Jeffrey Radke President Dated: October 18, 1999 Hamilton, Bermuda MARINER INVESTMENT GROUP, INC. By /s/ William Michaelcheck ------------------------- William Michaelcheck President Dated: October 18, 1999 New York, NY EXHIBIT A AGREEMENT JOINT FILING OF SCHEDULE 13G The undersigned hereby agrees to jointly prepare and file with regulatory authorities a Schedule 13G and any future amendments thereto reporting each of the undersigned's ownership of securities, PXRE Group Ltd. (formerly PXRE Corporation) and hereby affirm that such Schedule 13G is being filed on behalf of each of the undersigned. SELECT REINSURANCE, LTD. By /s/Jeffrey Radke ---------------------------- Jeffrey Radke President Dated: October 18, 1999 Hamilton, Bermuda MARINER INVESTMENT GROUP, INC. By /s/ William Michaelcheck ---------------------------- William Michaelcheck President Dated: October 18, 1999 New York, NY -----END PRIVACY-ENHANCED MESSAGE-----