A guest on CNNfn, the financial news network, has been plugging Bermuda insurance company stocks to the television station's audience and on its internet web site.

Vince Farrell, chief investment officer at brokers Spears, Benzak, Salomon & Farrell, said that he sees bargains in several Bermuda-based insurers, which have been out of favour lately on the New York exchanges. Mr. Farrell has been citing three of Bermuda's largest insurance companies as his favourites: ACE Ltd., PartnerRe Ltd. and XL Capital Ltd. Each company, he says, offers exceptional value coupled with long-term growth.

"I like the guys that are located in Bermuda, because they have a tax advantage,'' Farrell said. "All three are trading very close to book value; all three are trading between eight and 10 times earnings. I'm early on these, but I think we're going to have significant gains over the next couple of years.'' By `early', Mr. Farrell means that his predictions should not be considered immediate. He continued: "But nobody wants to hear about gains over the next couple of years.