By Bernews5,Financial Secretary
Copyright bernews
Premier To Speak At European Insurance Forum
The Premier and Minister of Finance David Burt will travel to Europe this week to “strengthen relations with national and EU decision-makers and advance Bermuda’s interests. ”
A Government spokesperson said, “The Premier was invited to Dublin, Ireland, to deliver a keynote speech at the European Insurance Forum.
“In addition to speaking at the conference, the Premier will conduct a series of high-level meetings with the Irish Government and regulators. These meetings will advance relations with the government, regulator, and insurance industry in Ireland while underscoring the importance of Bermuda’s Solvency II equivalence with the EU.”
On this upcoming trip to Ireland, the Premier said, “Bermuda is the world’s risk capital, with a vibrant [re]insurance industry that provides essential protection to businesses and communities around the world. It is an honour to be invited to address the European Insurance Forum during Insurance Ireland’s annual conference.
“Between 2016-2024, Bermuda [re]insurers paid $81 billion in general business and life [re]insurance claims to policyholders in the EU. Bermuda [re]insurers also create about 9,800 jobs in the EU and the UK.”
He continued, “Our message is simple: Bermuda is a compliant, transparent, and trusted partner to the EU in financial services. This Government is committed to maintaining equivalence with European standards, and to creating a business environment that allows our industry to thrive, innovate, and address the risks of tomorrow.”
A Government spokesperson added, “The Premier will also travel to Brussels and Paris for high-level meetings on insurance, digital assets, and international taxation. These include the European Council, European Commission, Belgian Ministry of Finance, Organisation for Economic Co-operation and Development [OECD], and the European Securities and Markets Authority [ESMA].”
Due to the ongoing tropical storm activity, the Premier will remain in close contact with the Deputy Premier & Minister of National Security. Premier Burt stated, “While no direct threat to the island is currently anticipated from Hurricane Humberto, storm tracks are unpredictable, and given the size of the storm, vigilance is warranted. Please take all sensible precautions and follow the advice of the Emergency Measures Organisation regarding Hurricane Humberto and Tropical Storm Imelda.”
A Government spokesperson added, “The Premier will be supported on this visit by Financial Secretary, Chidozie Ofoego; Daria Annel, Head of International Tax Compliance, Ministry of Finance; Aliyyah Ahad, Director, Bermuda Government’s Brussels Office; and Brandon Sousa, Deputy UK Representative.”
