insurance markets will compete in the 1997 Atlantic Insurance Regatta tomorrow and Friday in Hamilton Harbour.

The event is being hosted by the Royal Bermuda Yacht Club and will involve a nine-race round robin series in J-24s, borrowed from local owners. A deciding race between the two leading teams will be held unless one team wins outright by three races or more.

Also, a fleet race in the Great Sound for the Silver Trophy will be sailed during the regatta.

Two of the four local skippers are well-known brother and sister Andreas and Paula Lewin while sister Peta will be one of the crew members in Paula's team.

The other two skippers from Bermuda are Kate Freemantle and Phil Wilson.

The Atlantic Insurance Regatta began in 1989 as a challenge between the London and New York insurance markets. The founders of the race were Chris Burbidge (London) and Bill Thiele (New York).

After four successful regattas, the founders decided to broaden interest in the event, recognising the emergence of the insurance and reinsurance industry in Bermuda by inviting local teams.