Bermuda is not a threat to the London Market, apparently.

Warren Cabral, managing partner of Bermudian law firm Appleby Spurling & Kempe, was addressing an audience of reinsurers at Reynolds Porter Chamberlain's international reinsurance seminar. After Alea London chief executive Stephen Cane extolled the London Market, Cabral spoke: "Bermuda is not a threat, it's just another market available to you."