A bomb that killed nine people in the Indian city of Hyderabad did not impact an important business unit of Bermuda-based Flagstone Re located in the city.

The Bermuda reinsurance company, one of the newest on the Island, has an office dedicated to research and risk modelling in Hyderabad, where it employs a staff of around 35 people.

At the end of last week a bomb blast killed nine people, and a further three died in subsequent rioting.

Brent Slade, of Flagstone Re, said: "It was not a pleasant thing to happen. The bomb blast was in the old city. We are in the new, hi-tech area of the city that is a significant distance away. The event did not come anywhere near us."

Mr. Slade said the bombing would not put off the company from having an office in the city.