NEW YORK–A Bermuda insurance executive warned yesterday that if the head of an American carrier succeeds in his goal of convincing U.S. lawmakers to tax Bermuda insurers “a lot of people will suffer.”

Donald Kramer, chairman and chief executive officer of Bermuda-based Ariel Reinsurance, made his comments at an industry meeting here in response to remarks last week by William Berkley, CEO of Greenwich, Conn.-based W.R. Berkley Corp.

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