Bermuda's increased murder rate for 2009 is undoubtedly a "blemish" on the Island as an international financial centre, according to Deputy Premier Paula Cox.

The Finance Minister told The Royal Gazette that the six killings last year — including four firearm fatalities — could not fail to affect domestic and international business and tourism. But she said the recent spate of violence needed to be seen in context and was not the sole determinant in Bermuda retaining its reputation as an international financial centre.

The six deaths have pushed Bermuda's per capita murder rate higher than at any other time in the past decade, meaning it now exceeds that of London, New York and the global average (see separate story).

Ms Cox said: "When you have a series of murders in such a short period of time, it has to be worrisome to everyone, especially to the families who have lost loved ones, the friends, the neighbourhood, the community and to business. It hits all of us hard."

She added: "This hits at our economic lifeblood. I have no doubt that this is a blemish on Bermuda as an international financial centre."

The Deputy Premier said the US Department of State used a "hardship differential allowance" to analyse the safety and risk of a given country and Bermuda's current differential was very low.

"The assumption is there is no hardship/risk for those working in Bermuda," she said.

Ms Cox added that there was continued interest from international investors in the Island and praise from overseas about Bermuda's standards and level of cooperation regarding tax transparency.

"Though clearly sobering and concerning, the recent spate of violence in and of itself is not the sole determinant of whether we retain our reputation as an international financial centre," said Ms Cox.

"However, if the violence was to continue unchecked, the scales would tip against us.

"It is fair to say that decisive actions are being taken to address the current crime wave."

She said Police were working "flat out" and the community had come together to try to stem the violence. Ms Cox said there was also specific assistance being given from a law enforcement advisor funded by the Foreign and Commonwealth Office in London.

"Our task is to restore the proper balance with the maintenance of law and good order," she said.

Cheryl Packwood, chief executive officer of Bermuda International Business Association, said the four shootings in the past month had "shaken our Island community".

She said failure to curtail the violence could become an issue from the point of view of professionals considering coming here to work. "Of course, these shootings reflect on our image from a promotional aspect."

But she added: "Bermuda still remains a safe and stable environment in which to live and work. To date, there has been no impact on international business, as the shootings remain localised in their occurrence.

"We support the Government and the Governor in their efforts to bring the offenders to justice and bring an end to these unnecessary and tragic killings."

Leila Madeiros, senior vice president and corporate secretary, of the Association of Bermuda Insurers and Reinsurers, said: "Naturally as part of the Bermuda community, we are concerned with the recent rise in violent crime but no more than what the local community is feeling.

"We appreciate that the Government and the Bermuda Police Service and the Governor are serious and committed to dealing with these issues."