insurance costs as a result of the new catastrophe reinsurance capacity in Bermuda.

This is the view expressed by Mr. Steve Barton, a director of Sedgwick Marine and Cargo, and the managing director of Sedgwick Marine, in the Lloyd's List 1993 Green Tanker Guide.

The sharp reduction in capacity in the London reinsurance market has been damaging, said Mr. Barton. As a result, a huge rise in premium costs, and in the self-retention of larger `slices' of the risk has been experienced.

"There is not likely to be any real sea change in attitudes for the foreseeable future,'' said Mr. Barton. "Hopes that increased capacity in Lloyd's for 1994, combined with well-publicised, but as yet untested capacity in Bermuda, will have an impact on cost, are in my view unlikely to be realised,'' he said.