of troubled United Security Life Insurance Company.

Sources involved with USL said yesterday that he had been sacked by Trinidad-based Acumen for his outspoken comments about Bermuda's role in the USL fiasco.

"That's my understanding of it,'' said one source. "His employers were not at all happy with what he told The Royal Gazette .'' Canadian born Mr. Fortier, who was Acumen's general manager, had accused Bermuda's regulatory authorities of "total amateurism'' over their handling of USL.

USL had been allowed to continue operating its Bermuda branch in a normal fashion for five years while it was known to be insolvent.

The source indicated that Acumen was concerned about the impact Mr. Fortier's comments would have on Bermuda's Ministry of Finance and Registrar of Companies Mr. Malcolm Butterfield.

Having Mr. Fortier continue with Acumen may have affected Acumen's future business dealings with Bermuda, the source speculated.

Not long after Mr. Fortier's criticisms first appeared, he was made by his firm to write a full apology to the authorities in Bermuda.

Last night, Mr. Ronald Poon Affat, Acumen's consulting actuary and joint manager, denied that Mr. Fortier had been sacked.

"His contract expired earlier this year and he was then employed on a month by month basis,'' he said. "His departure was amicable and was mutually agreed.'' Mr. Poon Affat indicated that Mr. Fortier had left after his work with the firm had come to a natural close, even though the USL affair, on which Mr.

Fortier was Acumen's official representative, has several months to run.

"He was not the only person working on USL,'' said Mr. Poon Affat. News of Mr. Fortier's sudden departure was announced yesterday by lawyer Mrs. Diana Kempe at the Bermuda Supreme Court, where Bermuda's Registrar of Companies has applied to wind up USL.

Mrs. Kempe, acting for the Registrar of Companies, also used the opportunity to attack The Royal Gazette .

"The newspaper will report anything anyone's prepared to say,'' said Mrs.

Kempe, whose firm, Appleby, Spurling and Kempe employs Mrs. Verbena Daniels, who was Registrar of Companies when it was first learned that USL was insolvent.

Mrs. Kempe appeared to link Mr. Fortier's departure with The Royal Gazette's reporting of his views.

Chief Justice the Hon. Sir James Astwood said that Mrs. Kempe seemed to have a problem with the newspaper.

He said that he had always found the newspaper to be fair and that he had never had any problems with The Royal Gazette's reporting of affairs in the past.

Sir James agreed to an application from Mr. Mark Diel, representing USL, for a three-month adjournment.

The adjournment was conditional upon the High Court of Trinidad and Tobago granting a similar adjournment.

The court is due to rule over the next few days whether to give Acumen another three months to come up with a rescue plan.

Acumen says it needs more time to finalise the investigation of the assets and liabilities.

But the firm believes that a winding up of USL, as Bermuda's Registrar of Companies wants, is not the best solution.

Its report to the high court of Trinidad and Tobago said: "It is generally accepted that the liquidation of a long term insurance company is a last resort...

"Accordingly, Acumen Ltd. has strongly resisted this move by the Bermudian Registrar.

"Despite all out objections, a provisional liquidator was appointed and all staff were dismissed (in Bermuda) soon after his appointment.

"It is arguable that the actions taken to date may have compromised the interests of the Bermudian policyholders.

"The business transacted in this territory is largely industrial, with weekly and monthly door-to-door premium collections.

"Given the absence of active premium collections, as well as significant negative Press coverage coverage, it can be argued that the operations of this branch have effectively been wound up.''