Comments on: US ‘Bermuda Loophole’ Legislation Proposed

By: Ben Dover

Ben Dover — Thu, 23 May 2013 19:57:57 +0000

The ink is not even dry, and the exodus begins. MetLife is pulling Exeter Reassurance back to the States. This move “proactively addresses recent regulatory concerns about the use of captive reinsurers”

By: Bermewjan

Bermewjan — Thu, 23 May 2013 19:17:40 +0000

Well so much for Bob’s budget breakfast plan that Bermuda doesn’t need to diversify. Got any other ideas Bob?

By: Alvin Williams

Alvin Williams — Thu, 23 May 2013 18:40:01 +0000

I doubt very much if we are going to get any foriegn aid from Britain; especially since it is one of the loudest wolves that is baying for the blood of low tax jurisdictions like Bermuda; no matter how they coax thier diplomatic language. With the demise of international business we are sure to see the departure of even more residents; including those with so-called Bermuda Status. It is at that point that we will see who really wants to be a Bermudian for better or for worst. For the rest of us; the strong will have to carry the weak. But Bermuda will survive it is in our historical genes if we care to look. We will discover like any
other people that when circumstances happen that lead to disasters with far reaching consequences for our country; than we will have to pick ourselves up and begin again; just like our ancestors once did.

By: Duane P. Santucci

Duane P. Santucci — Thu, 23 May 2013 16:16:07 +0000

It is so amazing what can actually happen to Bermuda to drive us together,or wedge us further apart. I have stated for the last 10 years or more, that when this happens and not if it happens because sooner then later I think it will.

Bermuda better be ready and all the politicking in the world aint going to solve our crisis that might be ahead,so the next time some educated genius or simple fool decides to trash the mother country, be careful because you may need the Greats in Great Britian to save your hiney.

By: Mike bemy

Mike bemy — Thu, 23 May 2013 16:11:17 +0000

Sure they do, most of them r deceiving lying b***ards!

By: Bye International Companies

Bye International Companies — Thu, 23 May 2013 15:45:56 +0000

We can all say good-bye to the insurers and re-insurers….

By: Tommy Chong

Tommy Chong — Thu, 23 May 2013 15:26:23 +0000

Netherlands gets an average of 10 million tourist each year from all over the world even from America. This country makes close to 1.6 billion a year on tourism & its not all from those who like museums, tulips & windmills.

Despite Bermuda not being able to have the windmills & tulips there is the main source of Netherlands tourist income that we could provide with simple law changes. Why not referenda this law change instead of the gaming one? Gaming will not make us anymore unique than other tourist destinations that already have gaming but this will.

By: swing voter

swing voter — Thu, 23 May 2013 14:47:51 +0000

yup go ahead you political idiots and force these companies back to the mainland…. insurance coverage to compensate for losses after the next national disaster will not be so readily availible. Sorry azz Dummies on both sides can’t even come together to address the deficite.

By: The Skink

The Skink — Thu, 23 May 2013 13:25:06 +0000

@Tommy Chong: You are right!

By: Tommy Chong

Tommy Chong — Thu, 23 May 2013 13:18:47 +0000

When the global tax police start pointing at lil ol, Bermuda as enemy number one it’s a sure sign that the recession is far from over. Buckle up Bermuda it’s going to get worse & we are in for a turbulent ride.

http://uk.reuters.com/article/2013/05/21/uk-apple-tax-loophole-idUKBRE94K1A420130521

By: Truth is killin' me...

Truth is killin' me... — Thu, 23 May 2013 12:33:28 +0000

Dig deep enough and I would bet that these two lawmakers have some money somewhere offshore themselves!

By: LOL (original TM*)

LOL (original TM*) — Thu, 23 May 2013 12:28:31 +0000

In the long run I think this will hurt the US more as the capacity will be reduced to take on catastrophic losses in the US. As our economy is right now this will be a devastating blow to Bermuda.

LOL

By: jay

jay — Thu, 23 May 2013 12:10:59 +0000

“provides what the men call “foreign-owned insurers” a significant advantage over their US competitors in serving the domestic market.” – an advantage such as the ability to offer policies at lower premiums? which in turn benefits americans buying the policies? and also allows ‘foreign-owned insurers’ to offer more capacity? so the government loses $$ but the public benefits. who does the gvmnt work for again? tax insurers and who will pay the bills when they are due??

By: Time Shall Tell

Time Shall Tell — Thu, 23 May 2013 10:58:59 +0000

It’s just a matter of time before this loop hole is closed. This why I have been saying for some time that we need to start looking for a 3rd financial Pillar.

By: Did he do it?

Did he do it? — Thu, 23 May 2013 10:51:45 +0000

Looks like we better hurry up and get Tourism back as our main source of income in a hurry! This would mean the OBA and PLP stop bickering like children ASAP!!!