Premier meets Ireland’s Minister of Finance
David Burt, the Premier and Minister of Finance believes Bermuda can build greater connections with Ireland.
Mr Burt made the point after meeting Ireland’s Minister of Finance as part of his final official engagement in Poland.
The Premier led a Bermuda delegation for discussions at the Eurofi Financial Forum.
He met his Irish finance counterpart, Paschal Donohoe, to talk on the economic similarities between Bermuda and Ireland and how the two jurisdictions can work together amid increasing global economic uncertainty.
Mr Donohoe commended the ongoing technical collaboration between the Bermuda Monetary Authority and the Central Bank of Ireland, specifically in the insurance sector.
The value of continued regulator-to-regulator engagement in insurance as well as digital finance was acknowledged on both sides.
Mr Burt said: “Ireland and Bermuda share many economic similarities and our dialogue reinforced the importance of deeper co-operation between our jurisdictions.
“As small yet globally connected financial centres, we have much to gain from continuing our collaboration, particularly in insurance and digital finance.
“The success of this visit, including the Government and BMA’s participation in the Eurofi Financial Forum, and the valuable meetings in Warsaw, is thanks to the hard work of the Government of Bermuda’s Brussels Office, led by head of European affairs and policy, Ms Aliyyah Ahad.
“It highlights the value of continued international engagement and the importance of having dedicated overseas representation.”
The Premier said he looked forward to continued engagement with the minister and the Ministry of Finance of Ireland.
He also had official meetings in London with UK stakeholders before his scheduled return to Bermuda.
While in Poland, David Burt, the Premier and Minister of Finance, continued a series of meetings at the Eurofi Conference with Shigeru Ariizumi, the chair of the International Association of Insurance Supervisors, and Jonathan Dixon, the IAIS secretary general.
“The IAIS leadership commended the Bermuda Monetary Authority’s consistent engagement and meaningful contributions within the international regulatory community,” a government spokeswoman said.
The Bermuda delegation later visited the Polish Ministry of Finance to meet Jarosław Neneman, the Undersecretary of State responsible for international tax matters.
The spokeswoman said the conversation had focused on Bermuda’s insurance regulatory regime, with Polish officials expressing interest in learning from Bermuda’s experience.
Mr Burt later met Maria Luís Albuquerque, the European Commissioner for Financial Stability, Financial Services and the Capital Markets Union.
“Bermuda continues to demonstrate that a small jurisdiction can lead on the global stage by upholding high standards of regulation, transparency, and international co-operation,” Mr Burt said.
“These meetings in Warsaw reaffirmed the strong relationships we have built and are continuing to build with government officials, EU Commissioners, key regulators and industry leaders.”
“Our commitment remains clear: to promote Bermuda’s economic interests while enhancing our reputation as a well-regulated international financial centre.”
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