report has been recognised in four major award competitions, the company said.

Among the kudos -- winner at the prestigious AR 100 show honouring excellence in annual report design and production.

The Bermuda-based company's 1994 "It's About Time'' report focused on the theme of planning ahead. It was designed by Meyer Design Associates, a Connecticut firm, and printed by Boston-based Daniels Printing.

"Although we do not design our annual reports to win awards, it is gratifying to see such a positive response from the communications and design communities,'' Centre Reinsurance Holdings Ltd. president David Brown said.

"Creativity has long been a hallmark of Centre Re and we strive to create annual reports that reflect our approach to business and corporate culture.'' Meyer Design senior art director Randy Smith said: "The awards mean the message has been clearly communicated and communicated in a unique way.

"In the end it was fun, though on several occasions I've had to explain `banana now time','' he said.

Banana now time is the theory that primates can only focus on the banana they are going to get now. Some images in the report use the theory to illustrate that the past is integral in planning for the future, Mr. Smith said.

The 1994 annual report also received a silver award from the New York Festival's international print advertising, collateral and design competition which involved a three rounds of judging across 17 US cities as well as Spain.

The International Academy of Arts & Sciences also selected "It's About Time'' as a finalist in their competition.

As well, the annual report won an Insurance Marketing Communications Association award of excellence.

A wholly-owned subsidiary of the Zurich Insurance Group, the Centre Re companies have underwriting operations in Bermuda, Dublin, New York and San Francisco as well as representative offices in London and Zurich.

BUSINESS BUC