BTC has announced a new online customer account system that will allow customers to pay their bills online, request repairs and check the status of repairs.

Asked how customers can be expected to request a repair online if their phone line is down, a BTC spokesperson said: "People have access to the Internet by other means. They have computers at work."

She said: "The exciting thing about this new service is that customers can access their accounts directly - it takes out the middle man."

"My account" is available to both business and residential customers and BTC say there will be no extra charge for paying bills or reporting faults on line.

Marketing manager Caroline Todd said that the online system would make it possible for customers to access their BTC accounts 24/7.

"We're making it easier for customers to manage their accounts. An added benefit is that online access will provide the customer with a quick and easy way to take care of a billing query, add a calling feature and report a telephone problem - it can all be done at a time which is convenient for the customer."

Registration for residential customers is possible by visiting www.btc.bm. Online registrations must be validated by presenting a photo ID to a BTC Customer Service Representative for activation.

Agency lowers Annuity and Life ratings

A.M. Best Co. has downgraded the financial strength ratings to B- (Fair) from B+ (Very Good) of Annuity and Life Re Holdings' (Bermuda) life insurance subsidiaries and withdrawn the senior debt rating on ANR's $200 million shelf registration. Additionally, all ratings remain under review with negative implications.

"These rating actions reflect the deterioration in ANR's market profile, lack of improvement in earnings fundamentals, continued need to raise capital and recent assertions by the company's auditors that ANR's capacity to continue as a going concern is in doubt," Best said.

"ANR announced in February it had ceased to write new business. It has restated its financial statements for the years ended December 31, 2000 and 2001, successfully concluded an SEC staff review of the company's prior public filings and withdrawn its shelf registration."

But Best said it believed Annuity's capital remained adequate to cover its obligations to existing policyholders, but it added talks now underway to ensure additional capital could result in additional downgrades of the ratings on ANR.

AlphaStar to sell three subsidiaries for $9m

Bermuda-based AlphaStar Insurance Group Ltd. has agreed to sell three subsidiaries to an affiliate of American Insurance Managers Inc. (AIM) of Atlanta, Georgia for an estimated $9 million.

The subsidiaries being sold are Realm National Insurance Company, a New York-domiciled property-casualty insurer; World Trade Services Inc., a managing general agency headquartered in New York; and Stirling Cooke New York Insurance Agency Services Inc., doing business as World Trade Services.

The purchase price, which is subject to potential adjustment, will be based on the GAAP shareholder's equity of RNIC at December 31, 2002, which will be determined in the near future. The company expects that the ultimate purchase price will be approximately $9 million.

In October, 2002, AlphaStar and AIM entered into a non-binding letter of intent outlining a similar transaction.