Video: GR Interviews Premier Craig Cannonier

April 3, 2014

Premier Craig Cannonier was recently interviewed by GR: Global Insurance Intelligence concerning the future of the insurance and reinsurance industry on the island.

The interviewer Jack Grocott, opened with a question regarding Premier Cannonier’s comments regarding his goal of continued growth in Bermuda’s re/insurance market.

“In our last meeting, you stressed how encouraging reinsurance growth on the island was a priority,” said Mr. Grocott. “Since we last met, what have you have done about this?”

Premier Cannonier responded, “Yes, a number of policies we’ve put in place; the latest policy we put in place was to allow many of the reinsurance companies, insurance companies, to be able to purchase property in Bermuda for their CEOs and the like – accommodations can be acquired.

“This is something, as we continue to listen to the industry, was one of the areas that they felt will help them grow their businesses. Early on in the year when we interviewed we talked about term limits and that was an inhibitor to the insurance/reinsurance companies, and so we dealt with that, so the latest piece of legislation is of course the opportunities to purchase property in Bermuda.

“We’d like to invigorate the real estate industry as well; we believe that this will go a long way in ensuring that Bermudians are put back to work with this policy.”

Video courtesy of Global Insurance Intelligence:

When asked what role international reinsurance played in improving the island’s GDP over recent months, Premier Cannoier responded, “Well again, it’s a major contributor to our GDP. Almost two-thirds of our GDP is attributed to reinsurance and attributed to associated businesses. This has to be, going forward, a staple for us.

“Although we’ve been talking about diversifying, we certainly do not want to do away with what we know to be a secure business and something in the future that will continue to grow so we’re not looking to move away from that sector at all; we will always look out for the reinsurance industry.”

Mr. Grocott then asked, “What would be your message to any re/insurer contemplating moving away from Bermuda?”

Premier Cannonier responded, “Well, I think we’ve actually been able to stem that tide of those who were considering to leave by many of the policies we’ve already put in place.

“But what’s vitally important is the industry needs to know that Bermuda is not in the business, this administration is not in the business, of putting policies in place and then coming to them and axing them afterward.

“You know: does this work for you? We believe in a collaborative effort, so we’re going to the industry and we’re seeking out opportunities that we believe are mutual.

“We will always put policies in place after we have consulted with the industry because they know where they’re heading with these things and, as a government, our job is to create fertile ground for them to grow, which means jobs for Bermudians.”

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Comments (20)

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  1. ABM says:


  2. pebblebeach says:

    Seriously Craig…

    • Impressive says:

      smdh,, can it get any more embarrassing?

  3. Please says:

    Please, try CNN or FOX mate, where they call you “Premier Cannonier” not this amateur situation where the “journalist” is calling my Premier “Craig”

    Please enough reading off the script already!!!!!!

    Time to bring in Dunkley

    • Tough Love says:

      He wouldn’t dare call Min. Dunkley, Michael! That’s so disrespectful.

      • Eye of Horus says:

        Why wouldn’t he what would Minister Dunkley do about it? Let some Fs fly when he left the room & hope the microphone is not on this time?

    • Tough Love says:

      Bet he wouldn’t call Min. Dunkley “Michael”! Disrespectful bugger.

  4. LMAO fi reel says:

    Respect begets respect. Craig deserves no respect for ignoring his own media at home and going overseas giving free interviews – embarrassing is an understatement.

    Leaders that can speak fluent English speak their own language. PCC does not even have command of the English diction – Dunkley should take over!

  5. BETTTY TRUMP says:

    This is not a good look, he looks like amateur hour at the Allopo.

    • Citizen Banned says:

      I’ve always wanted to appear at the Allopo!

  6. Impressive says:

    you can only bs for so long, at some point no matter how hard you try to cover it, that smell would start to stink, especially with the summer heat approaching.

  7. mixitup says:

    I’m afraid to hit ‘Play’

  8. Terry says:

    And as soon as a takeover or change happens…..
    Betty, Laverne, Chris+Chris et al will say….’we told you so’.

    There needs to be a change of command in the OBA Government.
    If not.
    You ain’t got a hope in hell and let the next Parliamentarians deal with the mess left by others.

    And yes …I need a rum after reading all this crap here and elsewhere.

    • Evie says:

      WoW Craig that was painful one thing for sure we are being ripped off we r most definitely paying you above your pay grade WTH

  9. drunken ursula says:

    Lord I pray every time that guy opens his mouth…he doesn’t make a fool outta himself…well my prayers are never answered…REMOVED THAT GUY…..shame he clueless for real

  10. Coffee says:

    Craigo at his mostest professionalest bestest . We proud Oh you Craig . Dr.Brown should take you under his wing and train you , none of those OBAers have any intention of building you up . So much potential , so little attention .

  11. Eye of Horus says:

    Premier Cannonier responded, “Yes, a number of policies we’ve put in place; the latest policy we put in place was to allow many of the reinsurance companies, insurance companies, to be able to purchase property in Bermuda for their CEOs and the like – accommodations can be acquired.”

    What about the many apartments & house rentals Bermudian landlords haven’t been able to find a tenant for? Ah yes! I remember now! The trickle down myth! Maybe the Premier should teleconference (no need to travel) New Zealand MP Damien O’Connor so he can explain to him why he terms trickle down economics, “the rich pissing on the poor”

    “money was all appropriated for the top in hopes that it would trickle down to the needy.” – Will Rogers

  12. JUNK YARD DOG says:

    Another name for trickle down economics……… is Taxation !