CAPITAL G Bank has launched another stock market CD to respond to market demand.

Valerie Guagliano, senior vice president & head of client relationship management, said the Standard & Poor?s 500 index-linked investment product was being launched due to the respectable performance of the S&P 500 over the past year.

It also follows a successful previous stock market CD which netted customers a 75 percent ?participation rate? which is at the highest end of the suggested rate.

CAPITAL G?s latest offering is for a five-year fixed term deposit available in Bermuda and US Dollars.

Its yield is tied directly to the S&P 500 index with the opportunity for significant returns.

Unlike a traditional 5-year-CD that pays a specific interest rate per annum over the period, the yield on the Stock Market CD will be equivalent to between 55-75 percent of any upward move in the S&P 500 index or a minimum of 0 percent if the performance of the index is flat or negative.

The participation rate will be determined at closing.

John Whale, senior vice president & treasury consultant for the bank, said: ?With the purchase of the Stock market CD, investors do not have ownership interests that can be purchased, sold or otherwise traded on a secondary market facility.

For this reason we are able to ensure that the investor receives principal plus a return geared to the movement of the index and that the investor?s principal is protected from a downward movement in the index.?

The S&P 500 is made up of 500 different stock selected for liquidity, size and industry. The index is weighted for market capitalisation and is considered a benchmark of the overall market and is frequently used as a standard of comparison in terms of investment performance.

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Lines Overseas Management has launched the only Euro-based non US global fund managed in Bermuda for individuals or corporations looking to diversify portfolios such as those that are too overweight in North America. The LOM Global Equity (Ex US) Fund is managed by LOM Asset Management Limited and was developed off the back of an already competitive Global Equity Growth Fund.

?We recognise how clients are looking for diversification. There?s a tendency for clients to focus on North American markets as it dominates global investment choices.

?This fund let?s you diversify your portfolio simply and expertly by focusing on the other key markets; Europe, Australasia and the Far East,? said LOM.

The primary objective of the fund ? which is denominated in Euros to allow clients to balance the currency risk in their complete portfolios ? is to achieve above average long-term growth while controlling risk through diversification by company, industry, region and currency.

The emphasis will be on larger capitalisation companies.

?Billions of Euros are currently flooding into these EAFE (Europe, Australasia and the Far East) style funds around the globe and we?re excited to have this fund available for clients in an environment where the trend for these funds is increasing,? said LOM.

There are no initial costs or Bid/Offer spreads to get into the fund, the only charge is the 1.5 percent annual management charge.

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A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit rating of ?a? of Bermuda -based Catlin Insurance Company Limited and its UK subsidiary Catlin Insurance Company Ltd.

The ICR of ?bbb? of parent company Catlin Group Limited (Bermuda) has also been affirmed with the ratings agency giving a stable outlook for all ratings.

Best anticipates that CICL?s consolidated risk-adjusted capitalisation will remain excellent at year-end 2005 with the company continuing to generate additional capital internally, increasing consolidated capital and surplus to over $1 billion by year-end 2005, up from $891 million at year-end 2004.

?This increase in capital will be sufficient to offset anticipated growth in gross premiums of approximately 50 percent to over $650 million during the same period.

At year-end 2004, in support of CGL?s underwriting at Lloyd?s through Lloyd?s Syndicate 2003, CICL had assets in trust of $237 million and guaranteed a letter of credit for $225 million,? the agency said.

Best has excluded the assets in trust and total value of the letter of credit from its risk-adjusted analysis of CICL?s capitalisation.

Best said that CICL?s technical performance is likely to remain excellent in 2005 and 2006.

Despite exceptionally high hurricane activity in 2004, which contribfffffuted $18.8 million to CICL?s net incurred losses and 5.7 percent to the loss ratio, the company achieved a combined ratio of 78.6 percent for the year.

Best anticipates that the company?s operating expense ratio is likely to remain competitive in 2005 and 2006 at marginally over 20 percent, although increasing from 18.8 percent in 2004 as the company builds resources in Bermuda and London.

The combined ratio is forecast to stay below 80% for both years, assuming a return to normal loss experience.

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Island Press (Holdings) Limited, which has changed its name to MediaHouse Limited, will continue to use the existing share certificates in the name of Island Press (Holdings) Limited for the time being.

The company told the Bermuda Stock Exchange that the certificates will be replaced by MediaHouse Limited certificates on an attrition basis as and when they are presented to the company.

The BSX has amended its various public reports and records to reflect the new name. MediaHouse Limited has been assigned the symbols MHL BH for its common shares and MHLP BH for its preferred shares.