Premier Alex Scott yesterday said that international business had become a welcome part of the Island's community and urged insurance executives to keep coming back “again and again”.

Opening the first major conference to be held since Hurricane Fabian swept through the Island, Mr. Scott told delegates of the Hawksmere 17th International Reinsurance Congress the difficulties faced by the Island due to the storm.

And he told how international business had come to the aid of Bermuda and Bermudians when they needed it most.

“Everybody in the community came together to assist,” said Mr. Scott. “We are very fortunate that the corporate community that we attract had the corporate sense to this country and came to the aid of Bermuda and Bermudians in their time of need.”

He pointed to the use of corporate jets, supplies being flown in and how much this had been appreciated during this difficult time. “We had the offer of corporate jets in order to reconnaissance the damage done,” he said. “The offer of supplies flown in by again some of our corporate community.

“And this was not asked, it was not mandated, not even expected, but it was very much appreciated. So when I say we want you here, I mean it from the bottom of my heart.”

Mr. Scott urged the hundreds of delegates present to continue to return to Bermuda - and to forgive the “liquid sunshine” falling on the Island.

“You will always have our support, so when you are here in Bermuda doing business, we think of you as not only as visitor, as partners but we think of you also as part of our very small Island community, so you just keep coming back again and again and again.”

The three-day event was opened by chair Ray Medeiros, partner at PricewaterhouseCoopers who introduced the Premier and then the keynote speaker former US Senator George Mitchell. A report on former Sen. Mitchell's speech will appear in tomorrow's paper.

Today the seminar will focus on current developments in exit strategies including outsourced and in-house run-offs are on the agenda and legal developments and the implications of recent leading cases in the world of reinsurance.

In the afternoon this is followed by a two-part workshop on cutting-edge issues in American and English reinsurance arbitration and reinsurance collections.

And on the final day, Donald Kramer, vice chairman of ACE Ltd., Bermuda, will give his keynote address.

This is followed by a session about where the reinsurance industry is heading which includes a discussion on the future of Lloyds and the new players in the Bermuda market.

The final session tomorrow is on directors and officers liabilities and includes the major issues and the effect of Sarbanes Oxley.