an alliance with US investment consulting firm Wilshire Associates, Inc., which has over 400 institutional clients.

Mr. Bill Storie, president of William R. Storie & Co., said the arrangement would provide his clients with "a wide range of investment expertise and technology''.

He added: "Over the past few years we have developed a wide range of investment services for the international insurance and reinsurance industry.

"Our focus has always been driven by the technical insurance issues involved in investment management and their impact on the structure of the insurance company's portfolio.

"However, we have also recognised the need for many insurance companies to better manage their investment programmes.

"Our alliance with Wilshire will enable them to do this.'' Wilshire, which was formed over 20 years ago in California, numbers many of the world's largest institutional investors among its clients.

The firm, which employs 160 people, is headquartered in Santa Monica, California, with offices in New York and Pittsburgh.

Mr. Daniel Allen, head of Wilshire's international operations, who was in Bermuda this week, said: "We assist by focusing a client's attention on the most important areas of the investment process, including asset/liability management, asset allocation and investment structure.

"We may also conduct manager searches to implement our investment strategies and performance review to make sure the assets are performing up to expectations.'' Ms Stephanie Smith, Storie's marketing manager, said: "We have clearly identified those sections of the Bermuda insurance market best suited for such services.

"We are targeting the insurance and reinsurance company with investable assets in excess of $20 million, either within the captive manager structure or self-managed.

"In today's climate of low interest rates, the demand for a more structured approach to investment management is higher than ever.'' Mr. Storie added: "The new wave of Bermuda-based insurance companies and their specific needs causes the overall standards of the investment function within our industry to rise.

"We will be approaching all those companies within our target profile range to determine their interest and needs.'' HELPING INSURANCE FIRMS INVEST THEIR PREMIUMS -- Ms Stephanie Smith, Mr. Bill Storie and Mr. Daniel Allen after the signing of a new business deal.