new era of autonomy for its Bermuda operation.

Earlier this year, the Bahamas-based Non Resident Insurance Undertaking (NRIU) announced it was restructuring.

Since then, the Bermuda office has been undergoing significant changes to make it more independent, although it remains an integral part of the BAI network.

Mr. Stanley Lewis, district manager and local CEO, said: "Although the restructuring in no way impacts current policyholders, it has given the company a new sense of vitality and a renewed sense of commitment to its customers and to the community of Bermuda.'' BAI, which has a presence in 29 countries, has been operating as an NRIU in Bermuda since 1953.

The parent company holds 67 percent of its liability in Bermuda, which is 37 percent more than the regulatory requirements, and employs 58 staff on the Island, all of whom are Bermudian.

BAI's assets in Bermuda are in excess of $17 million and the company regards the Bermuda operation as one of its top performers.

Mr. Lewis said: "The restructuring has had a very positive impact on our organisation here in Bermuda. We have some of the most talented people in the business working for us.

"We offer first class training and have upgraded our office environment to make it better for both our staff and customers.

`We're introducing new products and services and we're in an excellent position to enhance our operations in Bermuda.'' As part of the restructuring process, Mr. E. Michael Jones was promoted to unit manager of a new ordinary agents division, which provides financial and insurance planning advice.

The division complements the company's home service division, which comprises four unit managers and 34 staff.

A major marketing campaign highlighting the changes was launched yesterday in the media.

"This represents the first step in British-American's efforts to take a stronger leadership role in the marketing of its services in Bermuda,'' said Mr. Lewis.

"British-American is taking a new look at life and looks forward to a prosperous and mutually beneficial, long term, caring relationship with this community.''