NEW ORLEANS -- Bermuda's business leaders expressed confidence that Bermuda could continue to lead the way in supplying capacity to the property catastrophe insurance market as the RIMS conference closed yesterday.

That view was made against the background of a Risk and Insurance Managers Conference where Bermuda's presence -- including all the Island's banks -- was stronger than ever.

Many insurers were also made aware of the presence of the Bermuda Commercial Bank, as the Island's only senior woman banker made many of those attending the 32nd annual RIMS Conference aware of a new agenda for Bermuda's future in the international business market.

The Bermuda's third bank underscored the consensus that Bermuda as an insurance market was here to stay and would get better.

Still, in the face of an absence of capacity that the global insurance market seeks, Bermuda Commercial Bank Managing Director, Mrs. Audette Exel, reflects the position that Bermuda finds itself in.

"Bermuda is being seen increasingly as a mature jurisdiction. Its credibility grows almost daily in terms of the quality of business it's doing and the class of players that come into the market. And quite clearly that means that there is room for us to increase that level of business.'' "In the course of the last six months I've been astounded at the level of information that is now in the market and the respect that Bermuda commands from all sections of the market globally. I think we can look forward to that continuing.'' Bank of Butterfield Deputy Manager Mr. Malcolm Mitchell said that after attenbing a number of RIMS seminars it is clear that the Bermuda iniative has been heard, and the initial money that arrived to fill capacity was just the start.

"Everyone is still bullish about Bermuda and they believe that last year's (wave of companies) was just the first set.

In a week in which former US Defence Secretary Mr. Dick Cheney indicated his displeasure to the insurance industry with the trimming of the US defence budget, The speech delivered to the insurance industry by the former defence secretary who played to inured applause, almost hinted at a future run for the presidency of the United States as the conservative North American insurance market continued their doubts that the planned closure of the Bermuda base was necessary to the US agenda.

At the forefront of the presence of Bermuda's banks this week, has been Mr.

Charles Vaughan-Johnson, the new president of the Bank of Bermuda, who dismissed any likelihood of "indigestion'', that Bermuda had already absorbed too much of the capacity.

He foresees some business going to the Cayman Islands, although that business can be beneficial to the bank's Cayman operations.

"But Bermuda is still in the driver's seat,'' he said. "Bermuda is still really the jurisdiction of choice in this business, and it goes back to the fact that we've been in the international offshore insurance business for the last 25 to 30 years.

"That reputation is very well known around the insurance markets and a lot of people have had experience with the captive insurance business in Bermuda. And therefore it's a natural lead-on for those same people to be involved in the catastrophe reinsurance business as well.

"And when you see people like J. P. Morgan and Marsh & McLennan all coming back to do more business, I anticipate we'll see more of it.'' But longtime attendees at the RIMS conference admitted a glaring difference was this year staring them in the face The insurance industry, together with related professions has attracted more and more women in recent times. And it was interesting to see the Bermuda Commercial Bank's contingent made up entirely of women.

Interestingly enough, the Bank of Bermuda was honouring last night some of its "Trojans'' of many years. In one of the worst kept secrets, the bank flew Executive vice president Bill Thomson to Atlanta from New Orleans as at least 100 top executives in banking, insurance, and other professions converged on Braselton, Georgia at the Chateau Elan, an exclusive hotel that was cleared for the black tie dinner in Mr. Thomson's honour.

The key surprise appearance included an appearance by the Talbot Brothers, the retired calypso kings of yesteryear who came out of retirement just for this special show.

Mr. Thomson has been heavily involved in helping to build the success Bermuda enjoys as an insurance domicile. Last night, the bank and many others thanked him in so many ways.

Even the "Phantom of the Opera'' was there as an opera singer was brought in to perform selected songs.

Today, golfing enthusiast Mr. Thomson will join with many of the participants in a golf tournament put on especially in his honour.

The Chateau Elan is owned by Dr. David Panoz, a Bermuda resident. The Premier the Hon. Sir John Swan, and Mr. Vaughan-Johnson were just two of the major guests in attendance.

The 1994 RIMS Conference reflected an upbeat feeling amongst those in a worldwide industry that has been hit by a series of problems in recent years.

Yet, Bermuda, in the midst of it all, was a dominant force at the conference.

It came against the backdrop of a city that boasts a jazz tradition, a lively Bourbon Street, the muddy, but notorious banks of the Mississippi, and some very friendly and efficient people.

It is also burdened, however, with a high crime rate, dirty streets, an intolerable murder rate (134 in the four months to Wednesday) and an obvious racial dichotomy in those who have and those who don't .

And just like the Bermuda market of insurers, lawyers, accountants, bankers and others, they are prepared to establish a unified, upbeat, face to get the job done.