Characterizing Bermuda as “the hub for the American market,” and boasting about having 12 of the world's top-40 reinsurers, Bermuda's premier vowed to keep a “low regulatory burden” for new companies without sacrificing the island's successful focus on preventing financial crime.
“Only the Germans and the Americans top Bermuda with premiums written among the top-40 reinsurers worldwide,” Premier Ewart F. Brown told an audience gathered here for the fourth annual Bermuda Captive Conference. “The insurance sector has helped sustain our GDP growth, at 4 percent per annum since 2000–consistent, steady, sensible growth.”
He cited a study released in May–”The Bermuda Insurance Market: An Economic Analysis,” by J. David Cummins of The Wharton School at the University of Pennsylvania and The Fox School at Temple University–which cites Bermuda as one of the world's top-three jurisdictions in the global reinsurance market, along with the United States and Europe.
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