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<br /> Published in association with<br /> The Government of BermudaA promising future built<br /> on solid foundations<br /> A small island grouping, lacking water and mineral resources... Bermuda is an unlikely<br /> success story. But the foresight of those who first settled here, and the fortitude and<br /> spirit of the generations that followed have transformed this isolated archipelago into<br /> a leading travel destination and world financial capital. As Bermuda’s first and largest<br /> indigenous bank, we’re proud to have served as a trusted financial partner to Island<br /> residents for more than 150 years and to have played a role in Bermuda’s remarkable<br /> history. We look forward to continuing to serve our community and helping enrich the<br /> future of our Island home.<br /> Retail, Electronic and Business Banking • Private Banking • Asset Management • Trusts • Corporate and Institutional Services • www.butterfieldbank.bm • (441) 295 1111BERMUDA<br /> <a title="Bermuda - 400 Years of XCommerce page 1" href="http://viewer.zmags.com/publication/63b698e8?page=1"> </a> <a title="Bermuda - 400 Years of XCommerce page 2" href="http://viewer.zmags.com/publication/63b698e8?page=2">A promising future built on solid foundations </a> <a title="Bermuda - 400 Years of XCommerce page 3" href="http://viewer.zmags.com/publication/63b698e8?page=3">BERMUDA 400 YEARS OF COMMERCE </a> <a title="Bermuda - 400 Years of XCommerce page 4" href="http://viewer.zmags.com/publication/63b698e8?page=4"> </a> <a title="Bermuda - 400 Years of XCommerce page 5" href="http://viewer.zmags.com/publication/63b698e8?page=5"></a> <a title="Bermuda - 400 Years of XCommerce page 6" href="http://viewer.zmags.com/publication/63b698e8?page=6"> base in bermuda</a> <a title="Bermuda - 400 Years of XCommerce page 7" href="http://viewer.zmags.com/publication/63b698e8?page=7">BERMUDA 400 YEARS OF COMMERCE Publis</a> <a title="Bermuda - 400 Years of XCommerce page 8" href="http://viewer.zmags.com/publication/63b698e8?page=8"> Risk by design </a> <a title="Bermuda - 400 Years of XCommerce page 9" href="http://viewer.zmags.com/publication/63b698e8?page=9">ACKNOWLEDGEMENTS © Bermuda Zoological Society </a> <a title="Bermuda - 400 Years of XCommerce page 10" href="http://viewer.zmags.com/publication/63b698e8?page=10"> </a> <a title="Bermuda - 400 Years of XCommerce page 11" href="http://viewer.zmags.com/publication/63b698e8?page=11">As one of Bermuda’s founding entities, Cable & Wir</a> <a title="Bermuda - 400 Years of XCommerce page 12" href="http://viewer.zmags.com/publication/63b698e8?page=12"> </a> <a title="Bermuda - 400 Years of XCommerce page 13" href="http://viewer.zmags.com/publication/63b698e8?page=13">© Bermuda Archives 17 FOREWORD </a> <a title="Bermuda - 400 Years of XCommerce page 14" href="http://viewer.zmags.com/publication/63b698e8?page=14"> Bermuda. The little island that could. And did. A</a> <a title="Bermuda - 400 Years of XCommerce page 15" href="http://viewer.zmags.com/publication/63b698e8?page=15">Courtesy of DCI 86 INVESTMENT MANAGEMENT </a> <a title="Bermuda - 400 Years of XCommerce page 16" href="http://viewer.zmags.com/publication/63b698e8?page=16"> Here’s to the next 400 years. </a> <a title="Bermuda - 400 Years of XCommerce page 17" href="http://viewer.zmags.com/publication/63b698e8?page=17">157 BERMUDA EMPLOYERS’ ROLE IN 400 YEARS </a> <a title="Bermuda - 400 Years of XCommerce page 18" href="http://viewer.zmags.com/publication/63b698e8?page=18"> Celebrating our past, looking forward to our futu</a> <a title="Bermuda - 400 Years of XCommerce page 19" href="http://viewer.zmags.com/publication/63b698e8?page=19">Intro FOREWORD FROM THE PREMIER </a> <a title="Bermuda - 400 Years of XCommerce page 20" href="http://viewer.zmags.com/publication/63b698e8?page=20"> </a> <a title="Bermuda - 400 Years of XCommerce page 21" href="http://viewer.zmags.com/publication/63b698e8?page=21">INTRODUCTION INTRODUCTION By Mat</a> <a title="Bermuda - 400 Years of XCommerce page 22" href="http://viewer.zmags.com/publication/63b698e8?page=22"> INTRODUCTION </a> <a title="Bermuda - 400 Years of XCommerce page 23" href="http://viewer.zmags.com/publication/63b698e8?page=23">Property Catastrophe Reinsurance Specialty Re</a> <a title="Bermuda - 400 Years of XCommerce page 24" href="http://viewer.zmags.com/publication/63b698e8?page=24"> </a> <a title="Bermuda - 400 Years of XCommerce page 25" href="http://viewer.zmags.com/publication/63b698e8?page=25">THE CELEBRATION OF BERMUDA’S 400TH BIRTHDAY </a> <a title="Bermuda - 400 Years of XCommerce page 26" href="http://viewer.zmags.com/publication/63b698e8?page=26"> THE CELEBRATION OF BERMUDA’S 400TH BIRTHDAY </a> <a title="Bermuda - 400 Years of XCommerce page 27" href="http://viewer.zmags.com/publication/63b698e8?page=27">YESTERDAY - ECONOMY Main Image: Hamilton fr</a> <a title="Bermuda - 400 Years of XCommerce page 28" href="http://viewer.zmags.com/publication/63b698e8?page=28"> YESTERDAY - ECONOMY Front Street, Hamilton, lo</a> <a title="Bermuda - 400 Years of XCommerce page 29" href="http://viewer.zmags.com/publication/63b698e8?page=29">captains exchanged information about ports and car</a> <a title="Bermuda - 400 Years of XCommerce page 30" href="http://viewer.zmags.com/publication/63b698e8?page=30"> YESTERDAY - ECONOMY Uploading the U.S. Ar</a> <a title="Bermuda - 400 Years of XCommerce page 31" href="http://viewer.zmags.com/publication/63b698e8?page=31">YESTERDAY - COMMERCE Main Image: Steamer Da</a> <a title="Bermuda - 400 Years of XCommerce page 32" href="http://viewer.zmags.com/publication/63b698e8?page=32"> YESTERDAY - COMMERCE Original AIG building. Co</a> <a title="Bermuda - 400 Years of XCommerce page 33" href="http://viewer.zmags.com/publication/63b698e8?page=33">haemorrhage companies. The Ocean Drilling and Expl</a> <a title="Bermuda - 400 Years of XCommerce page 34" href="http://viewer.zmags.com/publication/63b698e8?page=34"> www.timesgroup.co.uk TIMES GROUP Congratulate</a> <a title="Bermuda - 400 Years of XCommerce page 35" href="http://viewer.zmags.com/publication/63b698e8?page=35">YESTERDAY - INSURANCE Early view of Front S</a> <a title="Bermuda - 400 Years of XCommerce page 36" href="http://viewer.zmags.com/publication/63b698e8?page=36">YESTERDAY - INSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 37" href="http://viewer.zmags.com/publication/63b698e8?page=37"> As Bermuda became the domicile of choice,</a> <a title="Bermuda - 400 Years of XCommerce page 38" href="http://viewer.zmags.com/publication/63b698e8?page=38">YESTERDAY - COMPANY CREATION Reid Street, H</a> <a title="Bermuda - 400 Years of XCommerce page 39" href="http://viewer.zmags.com/publication/63b698e8?page=39"> Commemorating Bermuda on her 400 years of Commerc</a> <a title="Bermuda - 400 Years of XCommerce page 40" href="http://viewer.zmags.com/publication/63b698e8?page=40"> YESTERDAY - COMPANY CREATION </a> <a title="Bermuda - 400 Years of XCommerce page 41" href="http://viewer.zmags.com/publication/63b698e8?page=41">follow were statutes to regulate investment funds,</a> <a title="Bermuda - 400 Years of XCommerce page 42" href="http://viewer.zmags.com/publication/63b698e8?page=42"> Some things do get better with age! For over 45 y</a> <a title="Bermuda - 400 Years of XCommerce page 43" href="http://viewer.zmags.com/publication/63b698e8?page=43">YESTERDAY - REINSURANCE © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 44" href="http://viewer.zmags.com/publication/63b698e8?page=44"> YESTERDAY - REINSURANCE Main image: ACE absorb</a> <a title="Bermuda - 400 Years of XCommerce page 45" href="http://viewer.zmags.com/publication/63b698e8?page=45">YESTERDAY - MUTUAL INSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 46" href="http://viewer.zmags.com/publication/63b698e8?page=46"> YESTERDAY - MUTUAL INSURANCE Oil production pi</a> <a title="Bermuda - 400 Years of XCommerce page 47" href="http://viewer.zmags.com/publication/63b698e8?page=47">YESTERDAY - INSURANCE Main image: AIG build</a> <a title="Bermuda - 400 Years of XCommerce page 48" href="http://viewer.zmags.com/publication/63b698e8?page=48"> YESTERDAY - INSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 49" href="http://viewer.zmags.com/publication/63b698e8?page=49"> Underwriters Overseas, Bermudian Joseph Johnson n</a> <a title="Bermuda - 400 Years of XCommerce page 50" href="http://viewer.zmags.com/publication/63b698e8?page=50"> YESTERDAY - INSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 51" href="http://viewer.zmags.com/publication/63b698e8?page=51"> Left: Interior of XL building. © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 52" href="http://viewer.zmags.com/publication/63b698e8?page=52">YESTERDAY - TOURISM </a> <a title="Bermuda - 400 Years of XCommerce page 53" href="http://viewer.zmags.com/publication/63b698e8?page=53"> </a> <a title="Bermuda - 400 Years of XCommerce page 54" href="http://viewer.zmags.com/publication/63b698e8?page=54"> YESTERDAY - TOURISM Students gather on Elbow B</a> <a title="Bermuda - 400 Years of XCommerce page 55" href="http://viewer.zmags.com/publication/63b698e8?page=55"> village-like atmosphere. The American Air Force b</a> <a title="Bermuda - 400 Years of XCommerce page 56" href="http://viewer.zmags.com/publication/63b698e8?page=56"> </a> <a title="Bermuda - 400 Years of XCommerce page 57" href="http://viewer.zmags.com/publication/63b698e8?page=57">YESTERDAY - BANKING </a> <a title="Bermuda - 400 Years of XCommerce page 58" href="http://viewer.zmags.com/publication/63b698e8?page=58"> YESTERDAY - BANKING Old Bank of Bermuda cheque</a> <a title="Bermuda - 400 Years of XCommerce page 59" href="http://viewer.zmags.com/publication/63b698e8?page=59"> Front Street Branch, Bank of N.T. Butterfield, 19</a> <a title="Bermuda - 400 Years of XCommerce page 60" href="http://viewer.zmags.com/publication/63b698e8?page=60"> Oh yeh, Oh yeh, Oh yeh! Rubis Energy Bermuda d</a> <a title="Bermuda - 400 Years of XCommerce page 61" href="http://viewer.zmags.com/publication/63b698e8?page=61">YESTERDAY - BERMUDA’S FIRST PREMIER </a> <a title="Bermuda - 400 Years of XCommerce page 62" href="http://viewer.zmags.com/publication/63b698e8?page=62"> YESTERDAY - BERMUDA’S FIRST PREMIER Sir E</a> <a title="Bermuda - 400 Years of XCommerce page 63" href="http://viewer.zmags.com/publication/63b698e8?page=63">PERSONAL REFLECTIONS The leaders of Bermuda’s</a> <a title="Bermuda - 400 Years of XCommerce page 64" href="http://viewer.zmags.com/publication/63b698e8?page=64"> YESTERDAY - PERSONAL REFLECTIONS model f</a> <a title="Bermuda - 400 Years of XCommerce page 65" href="http://viewer.zmags.com/publication/63b698e8?page=65"> of their Island. The things I most enjoy about Be</a> <a title="Bermuda - 400 Years of XCommerce page 66" href="http://viewer.zmags.com/publication/63b698e8?page=66"> YESTERDAY - PERSONAL REFLECTIONS many fr</a> <a title="Bermuda - 400 Years of XCommerce page 67" href="http://viewer.zmags.com/publication/63b698e8?page=67"> partner, Suzie Pewter, and I have been running si</a> <a title="Bermuda - 400 Years of XCommerce page 68" href="http://viewer.zmags.com/publication/63b698e8?page=68"> </a> <a title="Bermuda - 400 Years of XCommerce page 69" href="http://viewer.zmags.com/publication/63b698e8?page=69">TODAY - INTRODUCTION © Bermuda Zoological Socie</a> <a title="Bermuda - 400 Years of XCommerce page 70" href="http://viewer.zmags.com/publication/63b698e8?page=70"> 68 TODAY - INTRODUCTION </a> <a title="Bermuda - 400 Years of XCommerce page 71" href="http://viewer.zmags.com/publication/63b698e8?page=71"> Bermuda Dockyard. </a> <a title="Bermuda - 400 Years of XCommerce page 72" href="http://viewer.zmags.com/publication/63b698e8?page=72"> Pioneers in Banking </a> <a title="Bermuda - 400 Years of XCommerce page 73" href="http://viewer.zmags.com/publication/63b698e8?page=73">TODAY - INTERNATIONAL BUSINESS OVERVIEW Hou</a> <a title="Bermuda - 400 Years of XCommerce page 74" href="http://viewer.zmags.com/publication/63b698e8?page=74"> TODAY - INTERNATIONAL BUSINESS OVERVIEW Courte</a> <a title="Bermuda - 400 Years of XCommerce page 75" href="http://viewer.zmags.com/publication/63b698e8?page=75"> Courtesy Dept. of Communication & Information </a> <a title="Bermuda - 400 Years of XCommerce page 76" href="http://viewer.zmags.com/publication/63b698e8?page=76">TODAY - INTERNATIONAL BUSINESS OVERVIEW Ham</a> <a title="Bermuda - 400 Years of XCommerce page 77" href="http://viewer.zmags.com/publication/63b698e8?page=77"> © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 78" href="http://viewer.zmags.com/publication/63b698e8?page=78"> Corporate | Insolvency | Litigation</a> <a title="Bermuda - 400 Years of XCommerce page 79" href="http://viewer.zmags.com/publication/63b698e8?page=79">TODAY - INTERNATIONAL BUSINESS OVERVIEW © Chris</a> <a title="Bermuda - 400 Years of XCommerce page 80" href="http://viewer.zmags.com/publication/63b698e8?page=80"> TODAY - INTERNATIONAL BUSINESS OVERVIEW © Chris </a> <a title="Bermuda - 400 Years of XCommerce page 81" href="http://viewer.zmags.com/publication/63b698e8?page=81"> TODAY - INTERNATIONAL BUSINESS OVERVIEW Front </a> <a title="Bermuda - 400 Years of XCommerce page 82" href="http://viewer.zmags.com/publication/63b698e8?page=82"> TODAY - INTERNATIONAL BUSINESS OVERVIEW BMA of</a> <a title="Bermuda - 400 Years of XCommerce page 83" href="http://viewer.zmags.com/publication/63b698e8?page=83"> Another amendment to the Act, made in 200</a> <a title="Bermuda - 400 Years of XCommerce page 84" href="http://viewer.zmags.com/publication/63b698e8?page=84"> </a> <a title="Bermuda - 400 Years of XCommerce page 85" href="http://viewer.zmags.com/publication/63b698e8?page=85">TODAY - INVESTMENT COMMUNITY </a> <a title="Bermuda - 400 Years of XCommerce page 86" href="http://viewer.zmags.com/publication/63b698e8?page=86"> TODAY - INVESTMENT COMMUNITY </a> <a title="Bermuda - 400 Years of XCommerce page 87" href="http://viewer.zmags.com/publication/63b698e8?page=87">The unrelenting, single-minded focus on alpha. Im</a> <a title="Bermuda - 400 Years of XCommerce page 88" href="http://viewer.zmags.com/publication/63b698e8?page=88">TODAY - INVESTMENT COMMUNITY </a> <a title="Bermuda - 400 Years of XCommerce page 89" href="http://viewer.zmags.com/publication/63b698e8?page=89"> Bermuda’s professional edge when compared to othe</a> <a title="Bermuda - 400 Years of XCommerce page 90" href="http://viewer.zmags.com/publication/63b698e8?page=90"> TODAY - INVESTMENT COMMUNITY In the background</a> <a title="Bermuda - 400 Years of XCommerce page 91" href="http://viewer.zmags.com/publication/63b698e8?page=91">TODAY - INVESTMENT COMMUNITY Bermuda com</a> <a title="Bermuda - 400 Years of XCommerce page 92" href="http://viewer.zmags.com/publication/63b698e8?page=92"> TODAY - INVESTMENT COMMUNITY </a> <a title="Bermuda - 400 Years of XCommerce page 93" href="http://viewer.zmags.com/publication/63b698e8?page=93"> Hurricane Katrina damage. The use of</a> <a title="Bermuda - 400 Years of XCommerce page 94" href="http://viewer.zmags.com/publication/63b698e8?page=94"> PLAN FOR THE FUTURE. MAKE</a> <a title="Bermuda - 400 Years of XCommerce page 95" href="http://viewer.zmags.com/publication/63b698e8?page=95">TODAY - INSURANCE AND REINSURANCE Main imag</a> <a title="Bermuda - 400 Years of XCommerce page 96" href="http://viewer.zmags.com/publication/63b698e8?page=96"> TODAY - INSURANCE AND REINSURANCE Ground Zero, </a> <a title="Bermuda - 400 Years of XCommerce page 97" href="http://viewer.zmags.com/publication/63b698e8?page=97"> Congratulations Bermuda for your 400 years of bus</a> <a title="Bermuda - 400 Years of XCommerce page 98" href="http://viewer.zmags.com/publication/63b698e8?page=98"> </a> <a title="Bermuda - 400 Years of XCommerce page 99" href="http://viewer.zmags.com/publication/63b698e8?page=99">TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 100" href="http://viewer.zmags.com/publication/63b698e8?page=100"> TODAY - INSURANCE AND REINSURANCE the es</a> <a title="Bermuda - 400 Years of XCommerce page 101" href="http://viewer.zmags.com/publication/63b698e8?page=101"> P roud to be part of the Bermuda Quadrice</a> <a title="Bermuda - 400 Years of XCommerce page 102" href="http://viewer.zmags.com/publication/63b698e8?page=102"> TODAY - INSURANCE AND REINSURANCE Chart </a> <a title="Bermuda - 400 Years of XCommerce page 103" href="http://viewer.zmags.com/publication/63b698e8?page=103"> TODAY - INSURANCE AND REINSURANCE Table 1</a> <a title="Bermuda - 400 Years of XCommerce page 104" href="http://viewer.zmags.com/publication/63b698e8?page=104"> TODAY - INSURANCE AND REINSURANCE Table 5</a> <a title="Bermuda - 400 Years of XCommerce page 105" href="http://viewer.zmags.com/publication/63b698e8?page=105"> Florida: Bermuda remains the dominant player in t</a> <a title="Bermuda - 400 Years of XCommerce page 106" href="http://viewer.zmags.com/publication/63b698e8?page=106"> 1609 - Sir George Somers maps Bermuda </a> <a title="Bermuda - 400 Years of XCommerce page 107" href="http://viewer.zmags.com/publication/63b698e8?page=107">TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 108" href="http://viewer.zmags.com/publication/63b698e8?page=108"> TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 109" href="http://viewer.zmags.com/publication/63b698e8?page=109"> Happy 400th Anniversary Bermuda! Congratulations</a> <a title="Bermuda - 400 Years of XCommerce page 110" href="http://viewer.zmags.com/publication/63b698e8?page=110"> TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 111" href="http://viewer.zmags.com/publication/63b698e8?page=111"> 109</a> <a title="Bermuda - 400 Years of XCommerce page 112" href="http://viewer.zmags.com/publication/63b698e8?page=112"> Heritage Think </a> <a title="Bermuda - 400 Years of XCommerce page 113" href="http://viewer.zmags.com/publication/63b698e8?page=113">TODAY - INSURANCE AND REINSURANCE Main imag</a> <a title="Bermuda - 400 Years of XCommerce page 114" href="http://viewer.zmags.com/publication/63b698e8?page=114"> TODAY - INSURANCE AND REINSURANCE ABIR compani</a> <a title="Bermuda - 400 Years of XCommerce page 115" href="http://viewer.zmags.com/publication/63b698e8?page=115"> American International Group, Inc. (AIG) is the l</a> <a title="Bermuda - 400 Years of XCommerce page 116" href="http://viewer.zmags.com/publication/63b698e8?page=116"> TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 117" href="http://viewer.zmags.com/publication/63b698e8?page=117">TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 118" href="http://viewer.zmags.com/publication/63b698e8?page=118"> TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 119" href="http://viewer.zmags.com/publication/63b698e8?page=119"> According to the International Associat</a> <a title="Bermuda - 400 Years of XCommerce page 120" href="http://viewer.zmags.com/publication/63b698e8?page=120">TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 121" href="http://viewer.zmags.com/publication/63b698e8?page=121"> AIG building. © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 122" href="http://viewer.zmags.com/publication/63b698e8?page=122"> Together we’ve come a long way 300 milli</a> <a title="Bermuda - 400 Years of XCommerce page 123" href="http://viewer.zmags.com/publication/63b698e8?page=123">TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 124" href="http://viewer.zmags.com/publication/63b698e8?page=124"> TODAY - INSURANCE AND REINSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 125" href="http://viewer.zmags.com/publication/63b698e8?page=125">TODAY - INSURANCE AND REINSURANCE © Chris Burvi</a> <a title="Bermuda - 400 Years of XCommerce page 126" href="http://viewer.zmags.com/publication/63b698e8?page=126"> TODAY - INSURANCE AND REINSURANCE Friendly comp</a> <a title="Bermuda - 400 Years of XCommerce page 127" href="http://viewer.zmags.com/publication/63b698e8?page=127"> Fifteen minutes of fame is all that most of us ca</a> <a title="Bermuda - 400 Years of XCommerce page 128" href="http://viewer.zmags.com/publication/63b698e8?page=128"> TODAY - INSURANCE AND REINSURANCE Wall Street s</a> <a title="Bermuda - 400 Years of XCommerce page 129" href="http://viewer.zmags.com/publication/63b698e8?page=129">TODAY - INSURANCE AND REINSURANCE © Chris B</a> <a title="Bermuda - 400 Years of XCommerce page 130" href="http://viewer.zmags.com/publication/63b698e8?page=130"> TODAY - INSURANCE AND REINSURANCE compan</a> <a title="Bermuda - 400 Years of XCommerce page 131" href="http://viewer.zmags.com/publication/63b698e8?page=131"> TODAY - INSURANCE AND REINSURANCE Dynamic. Just A</a> <a title="Bermuda - 400 Years of XCommerce page 132" href="http://viewer.zmags.com/publication/63b698e8?page=132">TODAY - CAPTIVES © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 133" href="http://viewer.zmags.com/publication/63b698e8?page=133"> One of the interesting facts about the g</a> <a title="Bermuda - 400 Years of XCommerce page 134" href="http://viewer.zmags.com/publication/63b698e8?page=134"> TODAY - CAPTIVES Bermuda’s captive industry is</a> <a title="Bermuda - 400 Years of XCommerce page 135" href="http://viewer.zmags.com/publication/63b698e8?page=135">TODAY - CAPTIVES </a> <a title="Bermuda - 400 Years of XCommerce page 136" href="http://viewer.zmags.com/publication/63b698e8?page=136"> TODAY - CAPTIVES </a> <a title="Bermuda - 400 Years of XCommerce page 137" href="http://viewer.zmags.com/publication/63b698e8?page=137">TODAY - CAPTIVES Many businesses rely on ca</a> <a title="Bermuda - 400 Years of XCommerce page 138" href="http://viewer.zmags.com/publication/63b698e8?page=138"> TODAY - CAPTIVES </a> <a title="Bermuda - 400 Years of XCommerce page 139" href="http://viewer.zmags.com/publication/63b698e8?page=139"> ownership holdings in group companies. By</a> <a title="Bermuda - 400 Years of XCommerce page 140" href="http://viewer.zmags.com/publication/63b698e8?page=140">TODAY - CAPTIVES US</a> <a title="Bermuda - 400 Years of XCommerce page 141" href="http://viewer.zmags.com/publication/63b698e8?page=141"> Whether premiums will be deductible under</a> <a title="Bermuda - 400 Years of XCommerce page 142" href="http://viewer.zmags.com/publication/63b698e8?page=142"> TODAY - CAPTIVES </a> <a title="Bermuda - 400 Years of XCommerce page 143" href="http://viewer.zmags.com/publication/63b698e8?page=143">TODAY - PUBLIC SPIRIT World Insurance Forum</a> <a title="Bermuda - 400 Years of XCommerce page 144" href="http://viewer.zmags.com/publication/63b698e8?page=144"> TODAY - PUBLIC SPIRIT </a> <a title="Bermuda - 400 Years of XCommerce page 145" href="http://viewer.zmags.com/publication/63b698e8?page=145">TODAY - PUBLIC SPIRIT </a> <a title="Bermuda - 400 Years of XCommerce page 146" href="http://viewer.zmags.com/publication/63b698e8?page=146"> TODAY - PUBLIC SPIRIT © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 147" href="http://viewer.zmags.com/publication/63b698e8?page=147"> © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 148" href="http://viewer.zmags.com/publication/63b698e8?page=148">TODAY - PROFESSIONAL SERVICES </a> <a title="Bermuda - 400 Years of XCommerce page 149" href="http://viewer.zmags.com/publication/63b698e8?page=149"> Courtesy Dept. of Communication & Information </a> <a title="Bermuda - 400 Years of XCommerce page 150" href="http://viewer.zmags.com/publication/63b698e8?page=150"> TODAY - PROFESSIONAL SERVICES </a> <a title="Bermuda - 400 Years of XCommerce page 151" href="http://viewer.zmags.com/publication/63b698e8?page=151">TODAY - PROFESSIONAL SERVICES </a> <a title="Bermuda - 400 Years of XCommerce page 152" href="http://viewer.zmags.com/publication/63b698e8?page=152"> TODAY - PROFESSIONAL SERVICES </a> <a title="Bermuda - 400 Years of XCommerce page 153" href="http://viewer.zmags.com/publication/63b698e8?page=153"> similar level to the United Kingdom. The one thin</a> <a title="Bermuda - 400 Years of XCommerce page 154" href="http://viewer.zmags.com/publication/63b698e8?page=154">TODAY - PROFESSIONAL SERVICES </a> <a title="Bermuda - 400 Years of XCommerce page 155" href="http://viewer.zmags.com/publication/63b698e8?page=155"> LEGAL SYSTEM After a tumultuous start and 400 yea</a> <a title="Bermuda - 400 Years of XCommerce page 156" href="http://viewer.zmags.com/publication/63b698e8?page=156"> TODAY - PROFESSIONAL SERVICES </a> <a title="Bermuda - 400 Years of XCommerce page 157" href="http://viewer.zmags.com/publication/63b698e8?page=157">TODAY - FINANCIAL T</a> <a title="Bermuda - 400 Years of XCommerce page 158" href="http://viewer.zmags.com/publication/63b698e8?page=158"> TODAY - FINANCIAL </a> <a title="Bermuda - 400 Years of XCommerce page 159" href="http://viewer.zmags.com/publication/63b698e8?page=159">TODAY - EMPLOYMENT © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 160" href="http://viewer.zmags.com/publication/63b698e8?page=160"> TODAY - EMPLOYMENT </a> <a title="Bermuda - 400 Years of XCommerce page 161" href="http://viewer.zmags.com/publication/63b698e8?page=161"> </a> <a title="Bermuda - 400 Years of XCommerce page 162" href="http://viewer.zmags.com/publication/63b698e8?page=162"> Play breathtaking golf courses overlooking turquo</a> <a title="Bermuda - 400 Years of XCommerce page 163" href="http://viewer.zmags.com/publication/63b698e8?page=163">TODAY - TOURISM Courtesy Elbow Beach Bermud</a> <a title="Bermuda - 400 Years of XCommerce page 164" href="http://viewer.zmags.com/publication/63b698e8?page=164"> TODAY - TOURISM </a> <a title="Bermuda - 400 Years of XCommerce page 165" href="http://viewer.zmags.com/publication/63b698e8?page=165"> </a> <a title="Bermuda - 400 Years of XCommerce page 166" href="http://viewer.zmags.com/publication/63b698e8?page=166"> </a> <a title="Bermuda - 400 Years of XCommerce page 167" href="http://viewer.zmags.com/publication/63b698e8?page=167"> Courtesy Tucker’s Point </a> <a title="Bermuda - 400 Years of XCommerce page 168" href="http://viewer.zmags.com/publication/63b698e8?page=168"> </a> <a title="Bermuda - 400 Years of XCommerce page 169" href="http://viewer.zmags.com/publication/63b698e8?page=169">TOMORROW - THE ECONOMY Courtesy Elbow Beach</a> <a title="Bermuda - 400 Years of XCommerce page 170" href="http://viewer.zmags.com/publication/63b698e8?page=170"> TOMORROW - THE ECONOMY </a> <a title="Bermuda - 400 Years of XCommerce page 171" href="http://viewer.zmags.com/publication/63b698e8?page=171"> </a> <a title="Bermuda - 400 Years of XCommerce page 172" href="http://viewer.zmags.com/publication/63b698e8?page=172">TOMORROW - THE ECONOMY </a> <a title="Bermuda - 400 Years of XCommerce page 173" href="http://viewer.zmags.com/publication/63b698e8?page=173">TOMORROW - LAW Clocktower and the marina at</a> <a title="Bermuda - 400 Years of XCommerce page 174" href="http://viewer.zmags.com/publication/63b698e8?page=174"> TOMORROW - LAW Early morning Bermuda scene at </a> <a title="Bermuda - 400 Years of XCommerce page 175" href="http://viewer.zmags.com/publication/63b698e8?page=175">TOMORROW - LAW © Sacha Blackburne Photography </a> <a title="Bermuda - 400 Years of XCommerce page 176" href="http://viewer.zmags.com/publication/63b698e8?page=176"> TOMORROW - LAW </a> <a title="Bermuda - 400 Years of XCommerce page 177" href="http://viewer.zmags.com/publication/63b698e8?page=177"> © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 178" href="http://viewer.zmags.com/publication/63b698e8?page=178"> </a> <a title="Bermuda - 400 Years of XCommerce page 179" href="http://viewer.zmags.com/publication/63b698e8?page=179">TOMORROW - LAW </a> <a title="Bermuda - 400 Years of XCommerce page 180" href="http://viewer.zmags.com/publication/63b698e8?page=180"> TOMORROW - LAW </a> <a title="Bermuda - 400 Years of XCommerce page 181" href="http://viewer.zmags.com/publication/63b698e8?page=181"> IN TOUCH In May 2008, a Commercial Court Users Co</a> <a title="Bermuda - 400 Years of XCommerce page 182" href="http://viewer.zmags.com/publication/63b698e8?page=182"> GENERAL CONTRACTORS & CONSTRUCTION MANAGERS </a> <a title="Bermuda - 400 Years of XCommerce page 183" href="http://viewer.zmags.com/publication/63b698e8?page=183">TOMORROW - PLANNING AND DEVELOPMENT </a> <a title="Bermuda - 400 Years of XCommerce page 184" href="http://viewer.zmags.com/publication/63b698e8?page=184"> TOMORROW - PLANNING AND DEVELOPMENT © Chris Bu</a> <a title="Bermuda - 400 Years of XCommerce page 185" href="http://viewer.zmags.com/publication/63b698e8?page=185"> </a> <a title="Bermuda - 400 Years of XCommerce page 186" href="http://viewer.zmags.com/publication/63b698e8?page=186"> Discerning. Sophisticated. Ideal. Rolling hil</a> <a title="Bermuda - 400 Years of XCommerce page 187" href="http://viewer.zmags.com/publication/63b698e8?page=187">TOMORROW - PLANNING AND DEVELOPMENT Courtes</a> <a title="Bermuda - 400 Years of XCommerce page 188" href="http://viewer.zmags.com/publication/63b698e8?page=188"> TOMORROW - PLANNING AND DEVELOPMENT </a> <a title="Bermuda - 400 Years of XCommerce page 189" href="http://viewer.zmags.com/publication/63b698e8?page=189"> </a> <a title="Bermuda - 400 Years of XCommerce page 190" href="http://viewer.zmags.com/publication/63b698e8?page=190"> TOMORROW - PLANNING AND DEVELOPMENT </a> <a title="Bermuda - 400 Years of XCommerce page 191" href="http://viewer.zmags.com/publication/63b698e8?page=191">TOMORROW - INSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 192" href="http://viewer.zmags.com/publication/63b698e8?page=192"> TOMORROW - INSURANCE © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 193" href="http://viewer.zmags.com/publication/63b698e8?page=193"> techniques as well as their ability to price thei</a> <a title="Bermuda - 400 Years of XCommerce page 194" href="http://viewer.zmags.com/publication/63b698e8?page=194">TOMORROW - INSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 195" href="http://viewer.zmags.com/publication/63b698e8?page=195"> We combine the right expertise to meet our cl</a> <a title="Bermuda - 400 Years of XCommerce page 196" href="http://viewer.zmags.com/publication/63b698e8?page=196"> TOMORROW - INSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 197" href="http://viewer.zmags.com/publication/63b698e8?page=197"> It is also helpful to quantify the amoun</a> <a title="Bermuda - 400 Years of XCommerce page 198" href="http://viewer.zmags.com/publication/63b698e8?page=198"> TOMORROW - INSURANCE </a> <a title="Bermuda - 400 Years of XCommerce page 199" href="http://viewer.zmags.com/publication/63b698e8?page=199">TOMORROW - INSURANCE © Chris Burville </a> <a title="Bermuda - 400 Years of XCommerce page 200" href="http://viewer.zmags.com/publication/63b698e8?page=200"> </a> <a title="Bermuda - 400 Years of XCommerce page 201" href="http://viewer.zmags.com/publication/63b698e8?page=201">TOMORROW - INTERNATIONAL RELATIONS Below: F</a> <a title="Bermuda - 400 Years of XCommerce page 202" href="http://viewer.zmags.com/publication/63b698e8?page=202"> 200 TOMORROW - INTERNATIONAL RELATIONS </a> <a title="Bermuda - 400 Years of XCommerce page 203" href="http://viewer.zmags.com/publication/63b698e8?page=203"> Kendrick Meek, Elijah Cummings and Joseph Crowley</a> <a title="Bermuda - 400 Years of XCommerce page 204" href="http://viewer.zmags.com/publication/63b698e8?page=204"> </a> <a title="Bermuda - 400 Years of XCommerce page 205" href="http://viewer.zmags.com/publication/63b698e8?page=205">TOMORROW - IT AND TELECOMS </a> <a title="Bermuda - 400 Years of XCommerce page 206" href="http://viewer.zmags.com/publication/63b698e8?page=206"> TOMORROW - IT AND TELECOMS </a> <a title="Bermuda - 400 Years of XCommerce page 207" href="http://viewer.zmags.com/publication/63b698e8?page=207"> TOMORROW - IT AND TELECOMS </a> <a title="Bermuda - 400 Years of XCommerce page 208" href="http://viewer.zmags.com/publication/63b698e8?page=208">TOMORROW - IT AND TELECOMS </a> <a title="Bermuda - 400 Years of XCommerce page 209" href="http://viewer.zmags.com/publication/63b698e8?page=209"> </a> <a title="Bermuda - 400 Years of XCommerce page 210" href="http://viewer.zmags.com/publication/63b698e8?page=210"> TOMORROW - IT AND TELECOMS </a> <a title="Bermuda - 400 Years of XCommerce page 211" href="http://viewer.zmags.com/publication/63b698e8?page=211"> </a> <a title="Bermuda - 400 Years of XCommerce page 212" href="http://viewer.zmags.com/publication/63b698e8?page=212">TOMORROW - EDUCATION AND RESEARCH </a> <a title="Bermuda - 400 Years of XCommerce page 213" href="http://viewer.zmags.com/publication/63b698e8?page=213"> The interest in new sources of informati</a> <a title="Bermuda - 400 Years of XCommerce page 214" href="http://viewer.zmags.com/publication/63b698e8?page=214"> TOMORROW - EDUCATION AND RESEARCH </a> <a title="Bermuda - 400 Years of XCommerce page 215" href="http://viewer.zmags.com/publication/63b698e8?page=215">TOMORROW - EDUCATION AND RESEARCH </a> <a title="Bermuda - 400 Years of XCommerce page 216" href="http://viewer.zmags.com/publication/63b698e8?page=216"> TOMORROW - EDUCATION AND RESEARCH Philip </a> <a title="Bermuda - 400 Years of XCommerce page 217" href="http://viewer.zmags.com/publication/63b698e8?page=217">TOMORROW - EDUCATION AND RESEARCH © Chris B</a> <a title="Bermuda - 400 Years of XCommerce page 218" href="http://viewer.zmags.com/publication/63b698e8?page=218"> TOMORROW - EDUCATION AND RESEARCH </a> <a title="Bermuda - 400 Years of XCommerce page 219" href="http://viewer.zmags.com/publication/63b698e8?page=219"> knowledgeable in US forms, regulations and standa</a> <a title="Bermuda - 400 Years of XCommerce page 220" href="http://viewer.zmags.com/publication/63b698e8?page=220">TOMORROW - EDUCATION AND RESEARCH © Chris B</a> <a title="Bermuda - 400 Years of XCommerce page 221" href="http://viewer.zmags.com/publication/63b698e8?page=221"> with the educational skills and training necessar</a> <a title="Bermuda - 400 Years of XCommerce page 222" href="http://viewer.zmags.com/publication/63b698e8?page=222">TOMORROW - ECONOMY </a> <a title="Bermuda - 400 Years of XCommerce page 223" href="http://viewer.zmags.com/publication/63b698e8?page=223"> Adam Smith’s Wealth of Nations published in 1776)</a> <a title="Bermuda - 400 Years of XCommerce page 224" href="http://viewer.zmags.com/publication/63b698e8?page=224"> TOMORROW - ECONOMY The Government has recognis</a> <a title="Bermuda - 400 Years of XCommerce page 225" href="http://viewer.zmags.com/publication/63b698e8?page=225">INDEX OF ADVERTISERS INDEX OF</a> <a title="Bermuda - 400 Years of XCommerce page 226" href="http://viewer.zmags.com/publication/63b698e8?page=226"> January, 2009 WELCOME TO BERMUDA’S QUADRICEN</a> <a title="Bermuda - 400 Years of XCommerce page 227" href="http://viewer.zmags.com/publication/63b698e8?page=227"> MORE EDUCATED. LESS GUESS. BRING THE POWER OF BL</a> <a title="Bermuda - 400 Years of XCommerce page 228" href="http://viewer.zmags.com/publication/63b698e8?page=228"> Issued by The Bank of Bermuda Limited. The Bank o</a>