Insurance and other international company chieftains have not been upset about the possibility of an independent Bermuda, outgoing Registrar of Companies Mr.

Malcolm Butterfield said yesterday.

"I'm only going on attending conferences like RIMS, and continuously speaking to many international firms who have a presence here, or who are considering a presence here,'' said Mr. Butterfield.

"They are certainly aware of Bermuda's intentions and the plan that's ahead in the future with respect to the referendum and the issue of Independence.

"But I've been very bullish with them, and straightforwardly asking questions such as their reaction to an independent Bermuda. In most cases, I have not received a real negative reaction against that.

"It's fair to say that if one was to gauge a sample of these people, on the question as to whether or not Independence would effect them doing their business here, I think you would get the reaction that most of them would not be disturbed if the Island went independent.

"What some of the concern is, that there is a proper plan to take us into Independence, if that is to be the case. The issue must be one of, whatever the deal is, maintaining economic and socio-political stability.'' Mr. Butterfield, who leaves Government office June 9, joins Butterfield & Steinhoff July 3 as an associate, to head up the firm's insolvency and liquidation practice.

The KPMG Peat Marwick (Bermuda) office, like other local professional firms, are looking more and more toward being active in the liquidation of companies.

Mr. Butterfield has been the Registrar of Companies for five years, regulating insurance companies. Before that he operated his own business, providing risk management and other advisory services particularly to insurance companies.

Mr. Robert Steinhoff, managing partner of KPMG (Bermuda), said he was delighted with the new appointment. He said Mr. Butterfield had gained valuable experience with Bermuda liquidations in his role as Registrar of Companies, and will be a valuable addition to KPMG.

Mr. Butterfield said, "My role will not be just dealing with liquidations, but also managing problems and giving advice. If companies still become insolvent or go into liquidation, we also feel that we could be considered as a candidate to provide professional services.'' Mr. Butterfield said that during his watch, he saw problem companies, but also the positive and significant growth in the market with the emergence of a host of large players.

"I have watched this industry bolster itself to a mega-billion-dollar industry, which has made Bermuda a worldwide leader in international insurance.

"If you look around the world at insurance commissioners in other jurisdictions, they turn over, or change, every five to seven years. I believe I've done a good job, but there comes a time when fresh ideas, fresh blood and a fresh view needs to brought to the table.

"I'm not saying that I got stale, but I had a fantastic five years, and I thought that while at the crest of my wave, it was time to make a change.'' Mr. Malcolm Butterfield