During his first official visit to Europe, Premier the Hon. David Burt, JP, MP, had a meeting with OECD Secretary General Angel Gurría, in Paris.
The meeting with the Secretary General was wide reaching with the OECD leader offering the Premier information on how the OECD is assisting small countries to address sustainable environments in the face of issues like global warming. During the meeting they also discussed current events taking place in the EU.
Bermuda's recent OECD rating of 'largely compliant' was praised, as was Bermuda achieving placement on France's country by country reporting White List.
During the French Insurance Federation meeting, also in Paris, Premier Burt gave assurances to our French Reinsurance partners that Bermuda is committed to dialogue with its key European partners, particularly those in Brussels.
Premier Burt held a meeting with Head of Cabinet Commissioner, Neven Mimica, who heads international cooperation development. The meeting was an opportunity to set the tone for a future relationship with Brussels on the basis of Bermuda's reinsurance industry's economic contribution to Europe.
Premier Burt stated, "Bermuda has been granted Solvency II equivalency in insurance by the EU, we have lead in the efforts for international transparency and we are seen as a strong financial player in the EU market and by political heads in Brussels."