This past weekend, the Premier and Minister of Finance, the Hon. David Burt, JP, MP, concluded a series of significant engagements in Brussels and Paris.
During the visit, the Premier met with government, regulatory and business leaders from across Europe, including officials from Germany, France, Spain, Switzerland, the National Bank of Belgium, the European Commission, the French Treasury, AXA, HSBC and the Organisation for Economic Co-operation and Development (OECD).
Discussions focused on matters affecting Bermuda's international business sector and the global regulatory environment.
While in Europe, the Premier was accompanied by officials from the Ministry of Finance and supported by the Government of Bermuda's EU Representative, Aliyyah Ahad, and the Brussels Office team.
In Brussels, the Premier attended the Government of Bermuda Brussels Office's annual reception, where he delivered remarks marking the 10th anniversary of Bermuda's Solvency II equivalence with the European Union.
Reflecting on the occasion, the Premier said, “This year marks ten years since Bermuda achieved full equivalence under the EU's Solvency II regime. Ten years since the European Commission looked at our regulatory framework, our capital requirements, our governance standards, our supervisory regime, and concluded that it was equivalent to the EU's own.”
The Premier also attended the ABIR 19th Annual International Insurance Regulatory Dialogue, where he participated in a seaside chat with ABIR Chair Mark Cloutier. In his remarks, the Premier thanked ABIR for their partnership with the Government in promoting Bermuda's re/insurance industry in Europe and around the world. He also visited the Belgian Financial Services and Markets Authority’s Wikifin Lab, a financial literacy hub focused on consumer education and financial awareness. The Premier thanked the Ministry of Finance, Ms. Ahad, and the teams in the Government of Bermuda's London and Brussels offices for their support throughout the visit.
