Reinsurers meeting at Baden-Baden this year had plenty to complain about. Besides a distinct lack of business being transacted due to uncertainties arising from the World Trade Centre tragedy, there were the usual moans about the social life in the small German town.

It emerges that, after dinner, delegates can either go on to Leo's (the equivalent of Corney & Barrow near Lloyd's), Maxine's (which is on a par with Spearmint Rhino) or the local casino.

The day's activities were also somewhat limiting. The choices were a trip to the modern spa, where a nudist adults-only sauna and bar on the second floor have been the setting for many a business transaction, or a steamy session in the mixed Roman baths, where clothing is strictly prohibited.