The man who heads the Association of Bermuda Insurers and Reinsurers has played down critical articles in the UK media about the level of unhappiness amongst Bermuda's $64 billion insurance and reinsurance industry.

As reported last week, the level of unhappiness at the state of the Island - politically and policy-wise regarding work permit time limits and associated delays - caused a number of senior executives from the Island who attended the Rendez Vous reinsurance gathering in Monte Carlo to admit at an informal reception that they have started considering outsourcing from the Island and even reviewing their corporate exit strategies should matters worsen.

However Bradley Kading, president of ABIR, said: "We discuss policy matters with the Premier privately. No one from ABIR is promoting a public debate critical of Bermuda either here or outside of the country.

"The European trade press from time to time carry stories critical of Bermuda. There are rival jurisdictions aggressively recruiting Bermuda companies.

"There are UBP supporters stating their points of view on local issues. Bermuda is important to this business, we are important to Bermuda. We employ 1,700 people here and 63 percent of our employees are Bermudian. It's been a good place from which to conduct business. We regularly work with the Government to ensure that it remains a good place to conduct business."