international trade is now Bermuda's number one money spinner.

Tourism has effectively been overtaken by businesses coming into Bermuda. Jobs in the international trade sector have also increased.

It has been boosted by continued growth in international insurance and reinsurance which showed an increase in 1991 over 1990.

These figures were reflected in the 1991 Statutory Financial Returns filed with the Registrar of Companies.

Gross premiums and net premiums written showed an increase of 18.3 percent and 16.8 percent respectively over 1990.

In addition total assets and capital and surplus rose by 9.6 percent and 9.3 percent respectively.

Acting Registrar of Companies, Ms Pamela Adams said: "These increases over 1990 indicate the committment of our companies to stability, their confidence in Bermuda and its attractiveness as a domicile for the larger insurance entities, marketing a variety of innovative insurance products.'' Inspector of Companies, Mr. Kymn Astwood said: "The increases are very positive in gross premiums and net premiums. All the increases are greater than last year.

"Essentially this fully demonstrates the confidence that the insurance market worldwide has in Bermuda as a domicile.

"We have seen various new insurance vehicles being formed which have contributed to the good results.'' Mr. Astwood said that existing companies also had their businesses boosted during the year.

Chairman of the Insurance Advisory Committee, Mr. Brian Hall said as the situation may have continued to improve since the rares were finalised in October.

Mr. Hall said: "The increases would indicate that Bermuda continues to pre-eminent in the international insurance market place.

"As far as we can tell the growth has been seen across the board. Insurance is very important to the Island. It has established itself as a major insurance centre.''