Bermuda has one of the fastest growing economies in the Latin American and Caribbean regions, Jason Hayward, the Minister of Economy and Labour told the Bermuda Risk Summit 2025.

During the event, Mr Hayward emphasised Bermuda’s strong and resilient economy, which has experienced an average of more than 5 per cent year-over-year growth since the pandemic.

“Against that backdrop, international business, real estate, and financial services collectively account for 58 per cent of the island’s economic activity,” he said.

He added that Bermuda’s insurance and reinsurance sector was a cornerstone of the island’s economy, contributing $2 billion in value-added, representing 29 per cent of our total real gross domestic product.

“With $150 billion in gross premiums written and coverage extending to over 150 countries, Bermuda remains a trusted partner in global risk management, particularly in catastrophe and climate-related insurance,” Mr Hayward added.

The minister also addressed the importance of public-private collaboration in attracting foreign direct investment and ensuring Bermuda remained an attractive destination for international business.

He discussed initiatives such as youth employment and internship programmes, the Finance to Fintech programme, and the Bermuda Coders Initiative, all aimed at equipping Bermudians with the skills needed for a dynamic and evolving economy.