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16th of May 2012

75% of top US companies are domiciled in Bermuda

Vicky Beckett 17/10/2011

About 75% of 500 leading US companies have a captive in Bermuda, a recent economic survey has revealed.
 
A Bermudan 2011 Economic Impact Study suggests that Bermuda is the leading foreign source of insurance and reinsurance services to the US.
 
Business Bermuda claims that in 2010 Bermuda became the most important international provider of insurance services to the US, despite many domiciles suffering set-backs in the economic crisis.
 
In insurance and reinsurance to the US, Bermuda averages $20bn in annual payments or $35bn in annually in recovered losses.
 
Business Bermuda believes the domicile’s success is increased by proximity to US financial and capital markets, UK and US compatible law and regulation and extensive financial regulatory cooperation as well as high regulatory quality.

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Andrew Barile 18/10/2011 3:37pm

In the early 1970s Bermuda created Insco Ltd owned by Gulf Oil Corp one of the largest writers of Casualty Excess for American corporations.Andrew Barile www.abarileconsult.com

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Emmy 28/10/2011 2:27am

Furearlz? That's marvelously good to know.

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