Insurers involved in investment decisions will take advantage of a specialised investment training seminar next month hosted by the Bermuda Insurance Institute (BII) and Pittsburgh-based Mellon Bank.

The local insurance market makes investment decisions on portfolios totaling billions of dollars. The two-day event -- entitled "Discovery: An Educational Forum for Investment Administration'' -- is scheduled to take place on November 19 and 20 at the Sonesta Beach Hotel.

It will cover the fundamentals of securities processing as well as the more advanced topics such as performance attribution and risk analysis.

The programme will be divided into two segments to suit different levels of interest and experience. One will focus on the issues which face professional investment management decision makers while the other will address the administration of the investment process.

BII education and training director Peter Doyles said: "Seasoned investment professionals will be able to brush up on their knowledge of derivative strategies while investment industry newcomers can learn about the securities industry.'' He said attendance at the seminar will qualify insurance executives for continuing professional development points.

Specialists from Mellon Bank will be joined by Frank Russell's consultant George Oberhofer, who will review the use of derivatives in investment portfolios, and Villanova University's Dr. Joan Lamm Tennant, whose research work involves financial risk modelling and investment performance bench marking for the insurance industry.

"Mellon has been fortunate to establish many mutually beneficial relationships with members of the Bermuda insurance industry,'' said Christi Caperton, vice president and manager of Mellon's insurance custody business line.

"This educational forum is a unique opportunity for us to return some of that goodwill by sharing our investment knowledge and experience with insurance professionals on the Island.'' Mellon Bank has over $1.1 trillion of assets under management or administration. The holding company Mellon Bank Corporation is a multi-bank entity, providing a comprehensive range of financial products and services in domestic and international markets.

The company's banking subsidiaries are located in Pennsylvania, Massachusetts, Delaware, Maryland and New Jersey and operate over 1,100 banking offices.

The BII provides a high standard of education and training to those working in the insurance industry. The Institute has courses that prepare students for American and English insurance designations.