Global insurance centre focusing on reinsurance and insurance services for large companies. It accommodates captive insurance companies. ACE and XL, set up to selfinsure the asbestosis risk of US companies, and other Bermudan companies, have become independent and grown through acquisition into large diversified global insurance and reinsurcompanies. Attractions of Bermuda: the absence of corporate or profits taxation; a flexible legal regulatory regime. ance

The union, through its 51 members from 42 countries and locations, works for international acceptance of sound principles of export credit insurance and foreign investment insurance. The union is a vital forum for the exchange of information, experience and expertise between members. Visit www.berneunion.org.uk.