David Burt has departed the island for Europe, where he will lead a government delegation in key meetings to strengthen relations and promote Bermuda as a global business destination.

According to a statement from the Government, the Premier will hold a series of meetings with officials in London.

He will also meet with European Commission and European Union officials in Brussels and later, he will meet officials of the Paris-headquartered Organisation for Economic Co-operation and Development.

Mr Burt’s first stop will be for a meeting with Michael Minelli, Lord Mayor of the City of London and representatives of Lloyd’s of London.

He will then attend an event hosted by the UK Foreign Secretary, David Lammy, and Baroness Scotland, the Commonwealth Secretary General.

His next stop will be in Brussels tomorrow, where he will participate in several events and activities on behalf of the Ministry of Finance, including key meetings with EC officials.

He will also meet with Lindsay Croisedale-Appleby, the UK Mission to the European Union Ambassador.

He is then expected to meet members of the EU’s Code of Conduct Group.

During this leg of the trip, the Premier will attend the Association of Bermuda Insurers & Reinsurers’ Annual International Insurance Regulatory Dialogue events, where he will participate in a Sea-Side Chat with Stephen Catlin, executive chairman of Convex.

A government spokeswoman said: “The Premier will jointly host the opening reception to the Regulatory Dialogue with Abir, during which the five-year anniversary of the Bermuda Government’s Brussels Office will be observed.”

He will then travel to Paris for meetings with OECD officials and onward to Ireland, where he will hold meetings with Jack Chambers, the Irish Minister of Finance and James Geoghegan, the Lord Mayor of Dublin.

Premier Burt said: “Bermuda serves as a global model for international business.

“We are well known as the risk capital of the world, and over the past 20 years, Bermuda has contributed around $300 billion in claims to European Union and US policyholders and clients.”

He added: “We hope to discuss Bermuda’s strides and success in the financial services sector with our partners in the EU.

“A very important development since our last visit is the introduction of a Corporate Income Tax, a first for Bermuda.”

He said the tax will apply to Bermuda businesses that are part of Multinational Enterprise Groups with annual revenue of €750 million or more.

He added: “Since announcing the CIT last year, Bermuda has remained competitive and a leader in retaining and attracting business as a premier international business jurisdiction.

“The legislation takes effect on January 1, 2025, so this visit and, therefore, these discussions are quite timely.”

He said: “Overall, our message is aimed at reminding our partners of the importance of Bermuda’s role in global insurance and reinsurance markets and highlighting our strong commitment to compliance with international standards, co-operation and transparency.”

He said the government’s experience in crafting and enacting quality regulation, as well as the island’s business-friendly environment, has put Bermuda on the forefront.

“We are very excited about this opportunity and seek to build and foster new relationships and strengthen and enhance existing ones in the region,” he added.

The Premier is accompanied on the trip by Chidozie Ofoego, Financial Secretary, Kenneth Joaquin, Registrar of Companies; Kimberley Durrant, Director Bermuda Government’s London Office and Aliyyah Ahad, Head of European Affairs & Policy, Brussels Office.

The delegation will return to the island on September 11.