insurance company could increase its premiums to cope with the trend, The Royal Gazette has learned.

Many of the thieves are believed to be youngsters between the ages of 12 and 16.

Bermuda's largest insurer, BF&M Ltd, recently announced a 7.5 percent increase in net earnings, up to $7,743,370. But increased claims have cost them more than $2.5 million.

Mr. Glenn Titterton, president and chief executive officer at BF&M Ltd, said his company was looking very closely at the situation, and hoped that the recent increase in cycle thefts was "just an anomaly''.

Mr. Titterton was unwilling to confirm exactly what types of cycles were most often stolen, although it is believed that step through models such as the V80 and RC100 are prime targets.

BF&M Ltd's annual report for 1993 stated that 1,284 motorcycles, at an estimated value of more than $2.5 million, were stolen last year. This figure compared to the 1,340 cycles stolen in 1990, 1,255 in 1991 and 1,168 in 1992.

Mr. Titterton said that the sharp increase in thefts had tarnished what was still a solid all-round business year at BF&M.

Their assets grew by 10 percent to $143,313,307, and shareholders equity increased some 13 percent to $39,776,891.

He said that some bikes already carried a substantially higher premium than others but there were no immediate plans to increase premiums.

"We are just adopting a wait and see attitude to find out exactly whether 1993 is merely an aberration or a return to the alarming increases we have seen in the past.'' The theft rate for certain motorcycles was now up to some three or four cycles a day, having shown a decrease in 1991 and 1992.

Police spokeswoman Sgt. Roseanda Jones said that cycle squad detectives were alarmed that the majority of cycle thieves were boys between 12 and 16.

"Some of them are not even old enough to ride an auxiliary cycle yet,'' she said.

"Parents should be on the lookout, because many kids will leave the cycles they steal close to their home and put many of the parts in their rooms or garages.'' Sgt. Jones said that there was a market for cycle parts because many cycle owners were unable to get the parts they needed from the dealers at prices they believed were reasonable.

A recent Police study revealed that only one in four cycles reported stolen were actually locked sufficiently.

This meant that more than the handlebars were locked and the owner had a sturdy lock between the back wheel and shock absorbers.

Another disturbing trend Police have identified is that many thieves will steal parts from motorcycles, making them inoperable. The owner is then forced to leave the cycle only to discover on return that it has been stolen.

Sgt. Jones said cycle owners should buy a sturdy lock and use it every time they leave their cycle unattended. She said they should park them in well-lit areas.

"People should also try not to make their cycle a target by adding chrome parts and high paint finishes.

"We also advise people to U-mark their cycles and register them with the Police. Chrome parts are always given a marking by the companies that do the chrome plating. People should always keep a record of that marking.

"I know many young people get upset whenever Police stop them when they are on their cycles, but Police officers have a duty to the people who have had their cycles stolen.

"Officers must check for stolen motorcycles and parts. I know this makes some people anxious, but Police have a job to do.''