Premier Alex Scott this week told hundreds of those involved in the insurance industry that not only did Bermuda appreciate their business, it would do all it could to ensure the continued success of the Island's insurance market.

Mr. Scott has been in San Diego since last week-end leading a Government delegation taking part in events during the prestigious Risk and Insurance Management Society (RIMS) annual conference.

Mr. Scott and the other members of Government participating in events at RIMS ? including a Tuesday morning walkabout of the exhibit hall at the San Diego Convention Centre ? has earned them praise from Bermuda's insurance sector.

And Mr. Scott's remarks at a special Bermuda reception were said to hit a mark with the insurance audience in attendance.

Speaking at a gala reception in the swank Manchester Grand Hyatt hosted by Bermuda on Tuesday night, Mr. Scott told hundreds of guests from the insurance sector that he was not going to "attempt to tell the experts how they should go about conducting their business".

But he did take five minutes out, from what is effectively an annual networking opportunity for those in or interested in the Bermuda market, to express thanks for that business. "I thought I would use my time to focus on three points that I believe will seriously convey to you this Government's understanding, appreciation and interest in the continuing success of the insurance and reinsurance market in Bermuda, in which all of you play a very, very important part."

And he stressed that no one was going to yank the welcome mat out from under market players.

"Bermuda is the global leader in insurance, and I saw that today as I walked the exhibition floor."

He told the audience: "I thought to myself we (Bermuda) do have, through you, a very large presence in this industry."

Mr. Scott said one indicator of that could be seen in the number of actuaries that call the Island home.

"Twenty of the world's 100 or so actuaries are in Bermuda," he said.

He continued: "It is this Government's express intention to support, encourage and develop this business, and our relationship with it, to both highlight and trumpet our reputation as a first-class insurance and reinsurance capital."

Mr. Scott said that he "unequivocally" wanted to let participants in the Island's re/insurance sector know that they would "continue to be a welcome and necessary part of our economy".

He said his, and others, presence at the week-long event was testament of their support.

"(It) underscores just how essential we regard this industry and our industry partners".

In closing, Mr. Scott said that he had been very impressed with the RIMS event, and the tireless dedication shown by Bermuda market players who volunteered untold hours to set up and man the Island's booth.

"RIMS has a hugely positive affect on Bermuda and its population. The example of hard work and dedication as keys to achievement does not go unnoticed in our Island home.

"The Government and people of Bermuda wish to thank you for setting this example and for helping to champion our country's success. It only remains for me to say very seriously, very sincerely and very humbly, thank you very much."

Market response:

Roger Gillett, IAC insurance marketing committee chairman, said: "The Premier remarks conveyed exactly the message the audience wanted to hear, and it was said with great sincerity.

He added that the speech had been "emotionally moving," and brief. "He promised a short speech, and he delivered that".

Mr. Gillett said the party ? which included a picture show in the background of Bermuda scenes and live music from Island songstress Gita Blakeney ? had drawn a good crowd of "both locals and clients,"

"I believe that the people that you see here are the ones Bermuda is trying to attract; the people directly buying our products and services or their advisors."

Mr. Gillett estimated that at least 700 people had made their way to the Bermuda reception, where guests were served a cocktail ? Fabian's Punch ? thought up just for the event.