is still refusing to return to Bermuda to answer a warrant for his arrest on civil matters, has astonished the Island's business community and delegates at the Bermuda Insurance Symposium.

Mr. Hardy has spent a considerable amount of time over the last few days faxing dozens of letters from England to insurance bosses, lawyers, accountants, regulators and the media on the Island.

The long, rambling letters seek to deride Bermuda as an offshore insurance jurisdiction and level accusations, which The Royal Gazette considers too libellous to repeat, against some of the Island's best-known figures.

Among those mentioned in the documents, which are being treated with widespread contempt by those who have read it, are Premier the Hon. Sir John Swan, Finance Minister the Hon. David Saul, Registrar of Companies Mr. Malcolm Butterfield and Chief Justice Sir James Astwood.

Mutual Risk Management president Mr. Robert Mulderig, International Advisory Services president Mr. David Ezekiel, Sphere Drake Underwriting Management (Bermuda) president Mr. Jonathan Crawley, Centre Re president Mr. Steven Gluckstern and lawyer Mr. John Milligan-Whyte are among a group of panelists at the Symposium who are attacked.

Mr. Hardy has promised another letter, targetting Mr. Crawley, before Mr.

Crawley delivers his closing speech to the Symposium today.

Many people yesterday denounced the documents as the act of a desperate man.

Mr. Brian Hall, chairman of Bermuda's powerful Insurance Advisory Committee, said: "This is unacceptable behaviour. I really don't know what to say. I'm surprised at the naive approach that he has taken.

"I've talked to quite a few people who have received it and they said they immediately threw it in the trash.'' American lawyer Mr. Ronald Jacks, a conductor at the Symposium who is named in Mr. Hardy's letters, and Symposium chairman Mr. Robin Spencer-Arscott both said that they would not dignify the letters with a reply.

One delegate from London, who asked not to be named, said: "The perception from London is that, despite Mr. Hardy, Bermuda's reputation as an international marketplace is higher than it's ever been.'' Mr. Hardy was the head of the Focus/Forum/Aneco group of companies which collapsed in Bermuda with multi-million dollar debts.

He is currently being sued for $19.7 million for negligence by the liquidators of Focus Insurance.

A warrant for his arrest was issued by Bermuda Supreme Court late last years for failing to appear at a hearing into charges that he violated court orders restricting the use of his personal assets.