Author Catherine R. Duffy presented two copies of her book on the history of International Insurance in Bermuda to US Consul General Gregory Slayton. 'Held Captive' is the only in-depth reference to the evolution of the Bermuda insurance and reinsurance market.

Businessman Brian Hall was the catalyst for this book, said Ms Duffy.

"He felt that the transformation of what was once a small, conservative, isolated insurance community into a provider of global powerhouse should be recorded by those who were involved early on," she said.

"I was glad to take on this fascinating project which took over a year to complete.

"This book tells, at length and in detail, and for the first time with a comprehensive sweep of narrative, just how Bermuda's insurance industry came about. It is a tale well worth telling, one of vision, courage, integrity and good faith, and of a caring, communal and collaborative effort, such as is rare in the annals of commerce.

"Far from being a dry compendium of facts and figures, this is an epic of remarkable characters, striving together to achieve unique successes, often against great odds."

In accepting the books, Consul General Slayton said: "The tiny Island of Bermuda is now a financial powerhouse, having joined London and New York as one of three global leaders in the fields of insurance and reinsurance.

"It is unusual to have such an outstanding work of research scholarship available. I am looking forward to reading 'Held Captive' and adding it to the Consulate's library."

Also on hand for the presentation was Catherine Lapsley, executive director of BFIS, which together with the Bermuda Insurance Institute, will receive part of the proceeds of the sales of 'Held Captive'.