insurance giant ACE, it was announced yesterday.

And Mr. Owen will lobby the US Congress on behalf of Bermuda if the Bermuda Tax issue rears its head once again.

Mr. Owen, an appointee of former US President Bill Clinton, left Bermuda yesterday and will join ACE Ltd's US subsidiary ACE INA in the new post of Senior Vice President for External Affairs in March.

This public affairs post will include any lobbying of the US Government on behalf of ACE and its interests. And as part of his post he is expected to lobby in Washington on behalf of Bermuda's insurance industry.

Last year there were moves in Congress to bring in laws to stop insurance and reinsurance companies using a so-called "tax loophole'' to evade US income taxes. Mr. Owen said: "My post includes all the relationships with external audiences for the company, including public affairs and government affairs.'' When asked if he would be dealing with the "Bermuda Tax'' issue, he said: "Oh I am sure I will, Evidently the proponents of some change in US law believe they should re-raise the issue in this new congress and with the new administration and so consequently I am sure we will be involved in addressing it.'' When asked if he would be directly involved in lobbying, he said: "Well I will certainly be overseeing it and I am sure I will be called upon to contact some of the people that I have relationships with from my time in Michigan and in Washington before. So yes.'' Mr. Owen has served as US Consul General to Bermuda since his appointment by Clinton in 1999. He will officially leave that post at the end of February, but leaves Bermuda Friday. He will begin his new post in March and will be based in Philadelphia in March. Before his appointment to Bermuda, Mr. Owen had been a candidate for Governor of Michigan in 1998 and previously worked with former Michigan Governors William Milliken and James Blanchard.

Owen plays ACE card Contin ued from Page 1 He also served as the state's Chief Deputy Commissioner of Insurance. From 1981 to 1997 he was a senior partner of Miller, Canfield, Paddock and Stone, Michigan's largest and oldest law firm. Mr. Owen is a graduate of Michigan State University and the University of Michigan Law School.

When asked if he had approached ACE or ACE had approached him, he said: "The answer is yes and no both ways. Over the last year and a half I have developed social relationships with a number of the ACE people and I am not sure who brought it up first.

"It was simply something that evolved out of our being together and enjoying one another's company and talking about the business and talking about politics, and talking about marketing and communications. One thing just led to another.'' Dominic Frederico, chairman and CEO of ACE INA Holdings Inc, said: "We are very pleased to welcome Larry Owen to the ACE group of companies. He will bring to our organisation a strong background in public affairs and international business arenas and he will fill a key strategic role as we look to expand and strengthen the global presence of our businesses.'' Mr. Owen added: "Looking ahead I think ACE is uniquely positioned to continue to build on its strong platform and to capitalise even more on the opportunities present in the market.''