Bermuda is fast becoming an overcrowded place, with more insurance professionals cramming onto its shore than you can shake a stick at.

It seems the problem of astronomical rent and lack of school places for the industry's younger generation, is leading people to pull some rather cunning tricks in order to stay ahead of the game.

According to market spies, John Charman, AXIS president and chief executive, is so intent on keeping his staff and their children happy that he put in a call to the local school in order to secure a few precious places.

When asked by Charman whether they were in desperate need of anything, the school took full advantage and asked for an all singing, all dancing gym.

Charman cordially obliged and hey presto, three school places miraculously appeared.

Backchat wonders though whether the former Mrs Charman may have something to say about how her ex-husband is spending his fortune, as she awaits the arrival of her £48m divorce settlement.