The Premier and Minister of Finance, the Hon. E. David Burt, JP. MP., led a delegation of the Bermuda Business Development Agency (BDA) and the Association of Bermuda Insurers and Reinsurers (ABIR), including BDA Chair, Stephen Weinstein, BDA Chief Executive Officer, David Hart, and ABIR Chief Executive Officer, John Huff, to the United Kingdom for meetings with UK Government officials and members of the UK Labour Party, and key industry stakeholders. The Acting Financial Secretary, Cheryl-Ann Lister, accompanied the Premier.
Prior to the start of key meetings, the Premier participated in a number of media interviews for UK publications, including Risk Magazine, The Scotsman and Environmental Journal. The Premier also joined Ian King live on Sky News, and discussed the Bermuda Monetary Authority's licencing process; Bermuda's strong regulatory framework and how it has positively contributed to making the Island a global hub for high-quality Fintech and Digital Asset business; Bermuda's first new bank in twenty one (21) years (Jewel Bank), which will help the island's Digital Assets industry to continue to grow; and Bermuda's insurance and reinsurance industry, which grew during the pandemic, with new companies joining the local economy, increasing the job market by 10%.
The Premier met with the Chair of the Association of British Insurers, Baroness Nicky Morgan, to discuss Bermuda's world-leading insurance market, share perspectives on industry dynamics, and to reaffirm Bermuda's commitment to continue to work alongside British insurers, and play a positive role in the global market place. The Premier also met with the Shadow Foreign Secretary, David Lammy, MP, Shadow Minister for Foreign, Commonwealth & Developmental Affairs, Stephen Doughty, MP, and Lord Collis of Highbury, to discuss issues currently faced by hundreds of Bermudians as a result of the UK Government's decision to take passport printing from the Overseas Territories. The Premier stressed the need to return passport printing to the Government of Bermuda. Regrettably, in discussions with the Minister for the Overseas Territories, Amanda Milling, there was no real progress respecting the return of BMU codes to Bermuda passports. The Premier also stressed that this was unfortunate, as Bermudians have been negatively affected by this UK Government decision, with no resolution in six (6) years.
The Premier met with the Financial Secretary to the HM Treasury, Lucy Frazer, MP., to discuss global tax matters, highlight Bermuda's leading financial services sector, and to reiterate Bermuda's commitment to international cooperation and compliance with global standands. Finally, The Premier joined ABIR executives and Lloyd's of London leaders to discuss enhanced collaboration between the London and Bermuda insurance markets, to encourage the continued growth of international business.
Social engagements included a dinner, hosted by the Premier, with UK Parliamentarians and key industry stakeholders to discuss a number of issues, including Climate Change. The Premier's final engagement was a breakfast meeting held on 16th June, 2022, with Gold Members of the Bermuda Society, to discuss Bermuda's Economic Recovery Plan, and how the Society can continue to support the Government in promoting Bermuda's interests in the UK.
Media Links
Premier joins ABIR member company executives and Lloyd's leaders in London rountable event.\: https://bit.ly/3OBqvsg
Premier and BDA to promote Bermuda in London - Bermuda Business Development agency: www.bda.bm/post/premier-and-bda-to-promote-bermuda-during-mission-to-lo…
After Consensus Success, Premier and Minister of Finance travels to London I Government of Bermuda: www.gov.bm/articles/after-consensus-success-premier-minister-finance-tr…
Bermuda aims to lead by example as it addresses climate challenge I News I The Insurer: www.theinsurer.com/esq/bermuda-aims-to-lead-by-example-as-it-addreses-c….
Social Media Links
Premier meets Chair of Association for British Insurers: twitter.com/BDALondonOffice/status/1537030535574441984
Premier meets UK Shadow Ministers: twitter.com/BermudaPremier/status/1537045383783895040
Premier meets Financial Secretary to HM Treasury: twitter.com/BermudaPremier/status/1537177004499402752
Premier meets UK Minister for the Overseas Territories: twitter.com/BermudaPremier/status/1537172751466774528
Premier visits Lloyds of London for rountable meetings with ABIR members: twitter.com/BermudaPremier/status/1537177975338471424