operations.

The company yesterday said it was creating new insurance products for customers at its Bermuda-based subsidiary.

"The Hartford has long maintained a significant presence in Bermuda, but this new strategic thrust is designed to cement our position in this market,'' Hartford's Bermuda president Robert Burns said. In addition to an expanding range of insurance and reinsurance products the company is looking at developing securitisation products in association with HartRe. Hartford has managed companies in Bermuda for about 20 years beginning with Abbey Overseas Group and its principal subsidiary Fencourt Reinsurance which acted as the captive for the Hartford's former parent, ITT Corp.

The companies have been consolidated and renamed Fencourt Reinsurance Co., Ltd., which continues as part of Hartford's Bermuda operation.

US-based Hartford has assets of $150.6 billion and shareholders equity of $6.4 billion.