Bermuda government welcomes QBE move

Patrice Minors, the Minister of Economy, Trade and Industry in Bermuda said she was humbled by QBE’s decision to move its wholly owned captive re-insurer, Equator Re from Dublin to Bermuda.

“We’re humbled that QBE has chosen to re-domicile this business in Bermuda,” she said. “It’s a testament to hard work by many in Government and the private sector that they’ve chosen to expand their Bermuda operations.”

Minors said that Bermuda remains a highly competitive, well regulated jurisdiction that is holding and attracting the world’s top re-insurers.

“We welcome Equator Re to Bermuda and look forward to working with them for years to come,” she said.

“Bermuda hasn’t been immune from the global economic crisis, but, we are orchestrating our journey through these tough economic times with undying commitment. While we have more work to do, Equator Re opening its doors is a welcome sign.”