A leading financial centre and reinsurance hub
Fundamental to Bermuda’s innovation culture is cooperation between government, regulator and industry, says Premier David Burt.
Bermuda, while a small country by population and size, continues to prove that these factors do not limit us to small, local businesses. With our robust regulatory framework, investment in human capital, political and economic stability and a willingness to innovate, Bermuda plays an essential role in international business, digital finance and the global financial services market.
A global business hub
Bermuda is home to companies from the US, Europe and Asia, including Hong Kong. We take pride in our geographical diversification and the broad range of products these businesses offer their clients, which are developed right here on the island under the supervision of our renowned regulator, the Bermuda Monetary Authority.
Our financial services platform is built on four principles: brand, employment, diversification and sustainability.
Brand refers to the high-quality, well-known financial services corporations domiciled on our shores, all of which recognise the strength and reputation of our regulatory regime and the advantages this presents for international business.
Human capital speaks to the continuous upskilling of Bermuda’s workforce to meet market needs while ensuring long-term job creation, as well as the culture of knowledge sharing between people and sectors given Bermuda's small size and concentration of expertise.
Diversification highlights the varied nature of business within our economy, the products local companies offer and their origin.
Sustainability relates to Bermuda's ability to expand and diversify our economy with limited impact on current infrastructure.
Thanks to this four-pronged platform and our commitment to integrity, Bermuda has solidified its position as a leading financial centre and reinsurance hub. Every aspect of our financial services policy objectives emphasises that a competitive, efficient and stable financial services industry, operating with integrity, is in Bermuda’s best interests.
“Our financial services platform is built on four principles: brand, employment, diversification and sustainability.”
Re/Insurance Leadership
Bermuda remains one of only two non-EU jurisdictions granted full equivalence under the Solvency II Directive for the insurance industry. Our insurance market has developed unparalleled expertise in areas such as property catastrophe insurance and reinsurance, protecting the world’s most vulnerable populations from climate perils. Bermuda-based reinsurers contributed nearly $10 billion to US wildfire claims in early 2025.
Fourteen of the world’s top 50 reinsurers hold licences on the Island. Since 1997, Bermuda’s commercial re/insurers have paid out more than half a trillion dollars to policyholders and cedants in the US, EU, and UK. Our re/insurance industry has expanded to include life/long-term and annuity insurance, playing an important global role in underwriting pension and annuity policies at a time when demographic change has resulted in a shortage of pension savings across the world.
Innovation culture and key Stakeholders
Beyond reinsurance, Bermuda remains a leading jurisdiction for trusts, family offices and fiduciary services. We are home to the Big Four accounting firms, globally recognised trustees, law firms and lawyers serving international business and high-net-worth clients.
Our strength and diversity lie within our innovation culture, established through the long-standing collaboration between our three key stakeholders:
1. Industry – Provides inspiration and innovation for new business models, products and services.
2. Regulator – The Bermuda Monetary Authority (BMA) ensures confidence and trust in financial stability.
3. Legislators – Facilitate collaboration between industry and regulators, ensuring swift transitions from innovation to trusted best practices.
This cooperation ensures Bermuda maintains its commitment to global regulatory standards, transparency and compliance. Bermuda scored in the top six in its latest Global Anti-Money Laundering assessment.
Digital finance
Bermuda continues to lead in digital finance, with the BMA refining its Digital Asset Business Act (DABA) framework. As of 2025, Bermuda has 39 fully licensed digital asset companies, including industry leaders such as Circle, Coinbase and Kraken and 14 innovative insurer general businesses. Bermuda recently hosted the inaugural Bermuda Digital Finance Forum, bringing together industry leaders, policymakers and innovators from around the globe, a further testament to our island’s leadership in this space.
Climate risk finance
Bermuda aims to become the world’s climate risk capital, just as we are now the global leader in natural catastrophe risk protection. The BMA has strengthened its climate risk finance expertise, launching an innovation and ESG subject matter team to address climate change risks.
In 2025, Bermuda insurers and reinsurers are expected to cover nearly 30% of insured losses from the devastating California wildfires. This underscores our role in helping high-risk regions bolster financial resilience against climate perils.
A future of growth and stability
Bermuda continues to welcome high-quality businesses from various sectors, fostering innovation in an environment that encourages growth. Whether in traditional re/insurance, cyber and climate risk, digital finance, insurtech or financial services, Bermuda provides businesses with the regulatory clarity, expert support and the ecosystem needed to thrive.
David Burt is the Premier of Bermuda. To find out more about the Bermuda government and its role in financial services, go to gov.bm
For more news on Bermuda Risk Review 2025, click here.
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