Dimensional Art Directors and Illustrators Awards Show in New York.

The local company was cited for its 1994 BF&M Insurance Group Calendar. The art director for the calendar's design and illustrations was Mrs. Rhona Emmerson. The designer was Ms Sue Dwyer and theme copy writer was Ms Donna Foresman.

This year more than 1,400 entries were received worldwide for the Dimensional Illustrators Awards Show. The BF&M calendar won the Bronze Award in the Recycled Materials Category.

The winning calendar will be on display at the New York Art Directors Club from November 28 to December 2. The calendar won a bronze award two years ago.

BERMUDA GETS AN INSURANCE BOOST NJ Bermuda gets an insurance boost The October edition of Risk & Insurance features a special report on Bermuda, self-contained in a glossy magazine insert, written by Mr. Kevin Stevenson.

Headlined "Bermuda Bedevils Competition'', the publication has more than a dozen colour pictures revealing the Island's beauty, together with several articles on different aspects of the insurance industry.

Risk & Insurance is a growing Pennsylvania-based magazine published on a monthly basis.

Mr. Stevenson said,"It has a circulation of 40,000 and has wide dissemination in the US.'' Mr. Stevenson said that the Bermuda insert was widely distributed at the recent reinsurance conference in Monte Carlo.

A front page article broadly proclaims: "Bermuda is now considered to be a mature market and is being afforded the respect it's due as a real, viable insurance centre.'' It includes articles on the casualty market, Bermuda's banks, local brokers and the continued growth in insurance.

The special report on Bermuda provides contact information on the Island's brokers and also individual summaries of the insurance and reinsurance markets.

TELCO SAYS E-MAIL WILL BE COMPATIBLE BUC Telco says E-Mail will be compatible The Bermuda Telephone Company's network system of local and international E-Mail will be comprehensive and compatible, according to a release from the company.

Mr. J.W. Dill, senior information manager, said in the release, EDI (Electronic Data Interchange) and on-line information access will be available to Bermuda businesses by June, 1995.

The new service will support every known LAN-based E-Mail system and offer a variety of access methods at reasonable rates, he continued.

Telco now provides access to international X400 and Internet E-mail services.

Mr. Dill outlined BERnet's -- the umbrella term for the communications line of products -- involvement in the EDI network at the Chamber's Business Opportunities in EDI, seminar Thursday. The seminar focussed on management issues.

GEARBULK INTENDS TO SELL SENIOR NOTES BUC Gearbulk intends to sell senior notes Bermuda-based Gearbulk Holding Ltd. has filed with the US Securities and Exchange Commission their intention to sell $175 million of senior notes that will mature in 2004.

Chemical Securities Inc. will be the underwriter of the notes, which are senior unsecured obligations. The notes are redeemable at the option of the company, on or after 1999.

The proceeds, which will be about $170.6 million after expenses, will be used to re-pay debt and for general corporate purposes.

Gearbulk is a bulk maritime carrier of forest products and non-ferrous metals.

It is based in Hamilton and posted net income of $21.16 million for the four months ending April 30, as compared to $8.58 million for the same period a year before.

Revenues in 1993 were $432.54, compared with $405.06 a year before.