Many Island insurance bosses feel uncomfortable about the political situation in Bermuda, one senior executive told Global Reinsurance magazine.

The executive, who asked not to be named, added that the concerns were not sufficient to make most companies actually leave. His comments included reference to Premier Ewart Brown closing down a debate in the House of Assembly last month and threatening to repeat the action whenever there was an "implication of something dishonest or corrupt" by the Opposition.

"Many of us feel uncomfortable about what is happening politically in Bermuda," said the executive, who works for a Bermuda reinsurance company. "Shutting down debate in Parliament is not what is supposed to happen in a democracy. Then hiring a PR firm from the US - it will cost the taxpayer millions of dollars and be a waste.

"The Government has also taken away its advertising for the daily newspaper. It has tried to gag the media through the highest courts and failed."

The excutive added that problems with work permits had led to his company outsourcing jobs to other countries, but overall he believed that Bermuda was still a good place to do business.

Cyrus Re II chief executive officer Robin Spencer-Arscott is also quoted. "Personally I am devastated about what has been happening," he said.

The same magazine ran an Internet poll asking: "What impact do you think the political situation in Bermuda will have on the industry?" Eighty percent of respondents said reisnurance companies should consider their exit strategies, while 20 percent said the situation was of concern, but should not affect the industry.

"It is just politics and not a concern" received no votes. And neither did: "It is over exaggerated nonsense by Bermuda's enemies."

Global Reinsurance editor David Sandham said yesterday that the poll was unscientific, but had attracted an unusually high number of respondents.