Last week, the Premier and Minister of Finance, the Hon. David Burt, JP, MP, travelled to Europe for a trip that advanced Bermuda's interests in re/insurance, digital assets, and international taxation.
The visit began in Dublin, Ireland, where Premier Burt was invited to deliver a keynote speech and participate in a fireside chat at the European Insurance Forum, the flagship annual event of Insurance Ireland, an association representing the Irish insurance industry.
The Premier also met with the Irish Minister for Finance, Paschal Donohoe, the Governor of the Central Bank of Ireland, Gabriel Makhlouf, and the Minister of State for Financial Services, Robert Troy. Discussions focused on reinforcing the strong ties between Bermuda and Ireland’s government, regulators, and re/insurance industry.
The Premier then travelled to Brussels, Belgium, where he met with the Belgian Deputy Prime Minister and Minister of Finance and Pensions, Jan Jambon.
The Premier also met with high-level officials within the EU institutions, including the Chair of the EU Code of Conduct Group, Maria José Garde, and the Director General of the European Commission’s Directorate-General for Financial Stability, Financial Services, and Capital Markets Union (DG FISMA), who was joined by DG FISMA’s Head of Insurance, Tilman Lueder.
The Premier concluded his European visit in Paris, France. He met with the Chair of the European Securities and Markets Authority (ESMA), Verena Ross, the Deputy Director of the Centre for Tax Policy and Administration at the OECD, Achim Pross, and the President of the France Assureurs (French Insurance Federation), Florence Lustman.
While in Paris the Premier also met with Thomas Buberl, CEO of AXA, and ended the trip with a tour of Station F, the largest incubator and accelerator facility for startups in Europe.
The Premier reflected that, “The European Union is a key trading partner for Bermuda, and it is essential that we maintain positive and consistent dialogue with our EU partners.
“The last year was marked by EU and national elections, in addition to personnel changes in positions with crucial importance for Bermuda. This trip was a valuable opportunity to meet with these new stakeholders and to reconnect with existing decision-makers. We reaffirmed Bermuda’s commitment to compliance, transparency, and maintaining equivalence with European and international standards, which is essential to the stability and success for our industry at home.
“These meetings also help to ensure that Europe’s financial leaders understand the role Bermuda plays in managing global risk. This protects jobs in Bermuda, secures opportunities for young Bermudians entering the workforce, and strengthens the Island’s reputation as a trusted and well-regulated financial centre.”
The Premier led a Bermuda delegation that included Brandon Sousa, Deputy UK Representative for the Government of Bermuda, Premier David Burt, Chidozie Ofoego, Financial Secretary, Government of Bermuda and Aliyyah Ahad, Senior Advisor, European Affairs & Policy, Brussels.
The Premier returned to Bermuda this (Sunday) evening.