Nicholas Dill and Richard Pearman have travelled a long way through life together, both as friends and lawyers, and share many things in common. They are both descendants of lawyers, they both went to Saltus Grammar School before studying law at Britain's most prestigious universities -- Oxford and Cambridge -- and also shared "digs'' in London. On completion of their studies in England, they both returned to join the law firm their fathers had founded: Conyers, Dill & Pearman, and both were called to the local Bar within a year of each other.

Now, after 42 and 41 years respectively, the last several in semi-retirement, both lawyers are now officially stepping down from the firm which bears their family surnames. Down, that is, but not out.

For while they are looking forward to the good things that official retirement can bring they will not be putting up their legal feet altogether.

"We will be staying on as consultants,'' Mr. Pearman explains. "There are still decisions to make, some existing clients to deal with, and mail to sign.'' Like their fathers before them, both Mr. Dill and Mr. Pearman were thrown in at the deep end at the start of their long careers, and took on everything from criminal and legal aid cases, to divorces, contracts and conveyancing.

"It was totally, totally different then,'' Mr. Dill recalls. "There were no specialists.'' With the advent of what is now known as offshore business, in which the firm's (now late) Mr. David Graham was a driving force, the old way of doing business changed forever, and the era of specialist lawyers had begun.

Thus it was that Mr. Dill became expert on matters pertaining to shipping law, and in particular Protection and Indemnity (P & I) clubs. In fact, he is credited today with being a driving force behind that aspect of Conyers, Dill & Pearman's activities.

"Originally, most of the clubs were incorporated in the UK, and they came out here because the foreign owners didn't want to be involved in exchange control there, and of course there were also tax advantages,'' Mr. Dill explains.

"Some came out here as subsidiaries of UK companies, and some were full-fledged insurance companies. The subsidiaries insured the parent companies' risks. The full-fledged P & I clubs here now insure the members all over the world.'' For his part, Richard Pearman has been involved in the legal and corporate aspects of insurance as well as shipping, and in fact some of his long-standing clients have also become personal friends.

"Shipping worldwide has been in the doldrums for ten to 15 years,'' he explains, "but companies still operate. I still see those international shipping clients who live here. In fact, some of them have been my clients since I first came back to Bermuda, and they are also personal friends.'' Of course, as the law firm's business grew, so too did the staff -- and the need for more space.

Whereas when the duo began their careers the staff numbered approximately nine, today there are over 300 in total, and where the firm once occupied a few rooms in the old Bank of Bermuda building, today the CD&P shingle hangs over not only two locations in Bermuda, but also over offices in Hong Kong, London, Guernsey, the British Virgin Islands, and the Cayman Islands.

"It has grown terrifically over my 41 years, and 42 in Nicky's case,'' Mr.

Pearman acknowledges. "Things really started to take off in the 1960s. There were a lot of shipping companies incorporated here as well as registering their vessels here. Mutual funds and investment companies started to take off in the 1970s, and that was the start of the insurance influx.'' Quite naturally, both men -- now senior partners in the firm -- have experienced the interesting and bizarre in their careers, and doubtless have many a fascinating tale to tell, but with the discretion for which their profession is renowned, they demur with a knowing smile when pressed for details.

Mr. Dill does allow, however, that among his clients were some world-famous actors whose antics were apparently less than salubrious.

"There were some interesting moments,'' is all he will say.

He also recalls being asked to transport a hugely valuable engagement ring across the Atlantic to London for a legendary thespian.

"They wanted me take possession of it in mid-flight whilst heading to London, but the responsibility was huge. I knew it was the most expensive ring ever made. What if I had lost it? So I declined.'' Closer to home, among the many disputes he helped to settle was one which took place in the middle of a bridge in St. David's, and another where a couple were at loggerheads over how much the wife spent on her appearance. Neither side would give an inch. Mr. Dill advised the husband to give his spouse a budget to spend as she liked, within which she would agree to live.

"Three months later they came back holding hands and couldn't have been happier,'' he recalls. "A very practical solution to what was obviously an emotional issue.'' Wills, he says, have a way of bringing out the worst in clients when the terms don't go as anticipated.

"I remember reading a Will, and about half way through some of the family started an argument. I tried to say something, but was unsuccessful. It went on and on, so finally I walked out of the room. Later, one of them told me the argument had been settled and asked me to come back. I said I would only do so on the understanding that there would be no more of their nonsense.

"Well, I went back in and started reading the next clause. In no time, they started arguing again, so I rose as if to leave, and they stopped immediately.

Nothing gets people more riled up than discovering that the Will is not how they thought it would be. You really see some people's true colours when those things occur.'' Once, however, the legal shoe was on the other foot and Mr. Dill found himself being served with a writ from the UK Government for one million pounds in connection with the disastrous oil spill from the tanker Torrey Canyon , which foundered off the English coast.

"That started the major oil companies looking at providing additional compensation in relation to oil spills which were otherwise compensated through P & I Clubs in one way or another,'' Mr. Dill explains. "The company, CRISTAL Ltd. was, in fact, incorporated in Bermuda and I was its secretary until very recently.'' Both men note that, while the law firm has experienced dynamic growth over the years, competition is also fiercer.

"The competition in other jurisdictions means that we have to be as good, efficient and knowledgable as a law firm in, say, New York or London. We are now dealing with the same clients they are, so the efficiency of CD&P has to be kept up,'' they explain.

In reviewing the firm's success, and the roles they have played in it, both partners say they are "immensely proud'' of what has been achieved, and they have no qualms about its future without their daily presence.

"It is in the hands of very good, competent, and young people,'' Mr. Pearman assures.

Among them are Mr. Pearman's nephew, Peter, and the daughter of a client whom he once successfully defended in Magistrates' Court at the beginning of his career.

Old guard steps down Until he became an Anglican priest, Mr. Dill's son Nicholas was also a lawyer at CD&P, and in fact is married to the former Fiona Campbell, whose lawyer father was senior partner at Appleby, Spurling & Kempe. In addition, Mr.

Dill's son-in-law, Nick Johnson, is also a partner at CD&P.

Mr. Pearman's son, Scott, has recently qualified as a barrister at Oxford University, and is presently working in chambers in London, so there is every likelihood that he, too, will follow in the footsteps of his father and grandfather some day.

Having led such active professional lives, one might be forgiven for thinking that the legal duo now wants to take it easy in retirement. Yet nothing could be further from their minds.

A keen woodworker and sailor, Mr. Dill has already made arrangements to take a course in boatbuilding in Maine this summer.

As an active sportsman, Mr. Pearman plans to play more tennis and golf, and he also wants to fulfil his New Year's resolution to "get into'' the Internet.

Both Mr. Dill and Mr. Pearman plan to enjoy more travel with their wives, Bitten and Jeannie respectively, and also spend time with their children and other family members abroad. Certainly, with 17 grandchildren between them, they don't envisage many dull moments! Asked what advice they would give young Bermudians contemplating a legal career, Mr. Dill urges: "Get broad experience in another country before you plan to come back,'' to which Mr. Pearman adds: "Bermuda is so involved internationally that that sort of experience is terribly important.

Particularly when you are on the Internet, it is a worldwide exercise.''