-----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, VnJdpYn7b0FepDX/Be7zBTubLkxm65swiFNWQ7+hUFMs3xnmzr6BgXJuHiU567bJ MJKZEamyJoZ7GFmGkw0BYw== 0000902561-01-500368.txt : 20020425 0000902561-01-500368.hdr.sgml : 20020425 ACCESSION NUMBER: 0000902561-01-500368 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20011126 DATE AS OF CHANGE: 20011205 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PXRE GROUP LTD CENTRAL INDEX KEY: 0001091748 STANDARD INDUSTRIAL CLASSIFICATION: TITLE INSURANCE [6361] IRS NUMBER: 980214719 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-57013 FILM NUMBER: 1799345 BUSINESS ADDRESS: STREET 1: CLARENDON HOUSE STREET 2: 12 CHURCH STREET MAILTON HM CX CITY: BERMUDA STATE: D0 ZIP: 00000 BUSINESS PHONE: 4412965858 MAIL ADDRESS: STREET 1: CLARENDON HOUSE STREET 2: 12 CHURCH STREET HAMILTON HM CX CITY: BERMUDA STATE: D0 ZIP: 00000 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 sc13g.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ------------------------- SCHEDULE 13G (Rule 13d-102) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b) ------------------------- PXRE Group Ltd. (Name of Issuer) Common Stock, par value $1.00 per share (Title of Class of Securities) G73018106 (CUSIP Number) November 20, 2001 (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 98-0189774 Select Reinsurance, Ltd. - - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP (a) |_| (b) |X| - - -------------------------------------------------------------------------------- 3) SEC USE ONLY - - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda - - -------------------------------------------------------------------------------- NUMBER 5) SOLE VOTING POWER OF 1,112,200(1) SHARES BENEFICIALLY 6) SHARED VOTING POWER OWNED BY None EACH REPORTING 7) SOLE DISPOSITIVE POWER PERSON 1,112,200(1) 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) 9.32% - - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON CO (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 98-0189774 Select Reinsurance, Ltd. - - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF MEMBER OF A GROUP (a) |_| (b) |X| - - -------------------------------------------------------------------------------- 3) SEC USE ONLY - - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda - - -------------------------------------------------------------------------------- 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) 9.32% - - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON CO (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 Select Reinsurance Ltd. hereby restates, pursuant to Rule 13d-1(h), its beneficial ownership of the subject shares of common stock, $1.00 par value per share ("Common Stock") of PXRE Group Ltd. (the "Company"), contemporaneously reported on Schedule 13D filed with the Securities and Exchange Commission on November 26, 2001, as Select Reinsurance Ltd. no longer holds the subject shares of Common Stock with a purpose or effect of changing or influencing control of the Company, or in connection with or as a participant in any transaction having that purpose or effect. Item 1. (a) Name of Issuer: PXRE Group Ltd. (b) Address of Issuer's Principal Executive Offices: PXRE Group Ltd. 99 Front Street Hamilton HM 12, Bermuda Mailing Address: Suite 231 12 Church Street Hamilton HM 12, Bermuda Item 2. (a) Name of Person Filing: This statement is filed on behalf of Select Reinsurance, Ltd. and Mariner Investment Group Inc. (b) Address of Principal Business Office or, if None, Residence: Select Reinsurance, Ltd. Victoria Hall 11 Victoria Street, 3rd Floor Hamilton, HM 11 Bermuda Mariner Investment Group, Inc. 780 3rd Avenue, 16th Floor New York, NY 10017 (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 (e) CUSIP Number: G73018106 Page 4 of 7 pages Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) |_| Broker or Dealer registered under Section 15 of the Exchange Act. (b) |_| Bank as defined in section 3(a)(6) of the Exchange Act. (c) |_| Insurance Company as defined in section 3(a)(19) of the Exchange Act. (d) |_| Investment Company registered under section 8 of the Investment Company Act. (e) |_| An investment advisor in accordance with Rule 13d-1(b)(1)(ii)(E); (f) |_| An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) |_| A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) |_| A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) |_| A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act; (j) |_| Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Rule 13d-1(c), check this box. |X| 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 Member 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/ Robert P. Myron -------------------------------- Name: Robert P. Myron Title: Vice President Dated: November 26, 2001 Hamilton, Bermuda MARINER INVESTMENT GROUP, INC. By: /s/ William Michaelcheck --------------------------------- Name: William Michaelcheck Title: Chairman Dated: November 26, 2001 New York, NY Page 7 of 7 pages -----END PRIVACY-ENHANCED MESSAGE-----