has put the company's Bermuda blcok of business up for sale.

The announcement on Friday came after Bermuda branch provisional liquidator Mr. Malcolm Butterfield agreed with Canadian liquidator Peat Marwick to tansfer the Bermuda branch assets under his control to the Canadian liquidator, a statement said.

The Supreme Court approved the transfer and discharged Mr. Butterfield on March 20.

The 170 Policyholders in the Bermuda branch -- who paid annual premium income of 3.2 million -- will now be ranked in the same manner as Canadian policyholders with valid claims.