Why Bermuda

Most people who have relocated and are now living and working in Bermuda have got only three words to describe the island “Living the dream”.

Bermuda has the 3rd largest insurance market after London & New York and also the largest captive insurance, reinsurance and financial line insurance markets in the world. The island is home to 75% of the fortune 100 companies, with 50 of its GDP contributed by international companies. We have no doubt that working in such an island will be a great chance for you to expand and extend your international experience and an opportunity to gain first class financial service experience.

There is a wide mix of cultures in Bermuda (vibrant lifestyle) with a chance to meet new people, see a new place, learn another cultures.

Bermuda at a glance

A British overseas territory in the North Atlantic Ocean. Located off the east coast of the United States

The nearest landmass is Cape Hatteras, North Carolina, about 1030 kilometers (640 mi) west-northwest.

The Island consists of approximately 138 islands, with a total area of 53.3 square kilometers (20.6 sq mi).

Highly affluent economy, with a large financial sector and tourism industry giving it the world’s highest GDP per capita in 2005.

Bermuda’s population is just above 60,000.

It has a subtropical climate, beaches with pink sand, and cerulean blue ocean.

Geography

The climate is humid and, as a result, the summertime heat index can be high, even though mid-August temperatures rarely exceed 30 °C (86 °F). Winters are mild, with average daytime temperatures in January and February around 20°C (68°F)

Economy

Bermuda’s currency is the Bermudian dollar, which is pegged to the US dollar. US notes and coins are used interchangeably with Bermudian notes and coins within the islands. Bermuda’s per-capita income is approximately 50% higher than that of the United States; according to the Bermuda Government’s Economic Statistics Division, Bermuda’s GDP was $4.857 billion in 2005, or $76,403 per-capita, giving Bermuda the highest GDP per capita in the world.

Bermuda is an Offshore financial centre, which results from its low direct taxation on personal or corporate income. The local tax system is based upon import duties, payroll taxes and consumption taxes. The legal system is derived from that of the United Kingdom, with recourse to English courts of final appeal. As the offshore domicile of many foreign companies, Bermuda has a highly-developed international business economy; it is a financial exporter of financial services (primarily insurance, reinsurance, investment funds and special purpose vehicles .

The Bermuda Stock Exchange (BSX) first established in 1971 is now the world’s largest fully electronic offshore securities market, with a current market capitalization (excluding mutual funds) in excess of US$ 330 billion. There are four hundred securities listed on the stock exchange, of which almost three hundred are offshore funds and alternative investment structures, attracted by Bermuda’s regulatory environment. The Exchange specializes in listing and trading of capital market instruments such as equities, debt issues, funds (including Hedge Fund structures) and depository receipt programmes.

Tourism is Bermuda’s second largest industry, with the island attracting over one-half million visitors annually, of whom more than 80% are from the United States. Other significant sources of visitors are Canada and the United Kingdom. Tourists arrive either by cruise ship or by air at Bermuda International Airport, the only airport on the island.

Lifestyle and leisure

Renowned for its pink sand beaches and natural beauty, Bermuda offers a number of other attractions, as well. Historic St. George’s is a designated World Heritage Site. Scuba divers can explore numerous wrecks and coral reefs in relatively shallow water . Sport is a popular pastime in Bermuda, especially football (soccer), sailing, cricket, golf, Hockey, Tennis, Beach volleyball and rugby. Bermuda has the world’s highest acreage of golf courses as a percentage of its total landmass.

Bermuda’s culture is a mixture of the various sources of its population, though little trace remains of the various Native American, Spanish-Caribbean, African, Irish or Scots cultures that would have been evident in the 17th century, with Anglo-Saxon culture becoming dominant.