David Burt, the Premier and Minister of Finance, is highlighting Bermuda’s role in helping countries manage catastrophe risks during a Commonwealth business forum in Antigua and Barbuda.

Mr Burt was due to take part in discussions on mutualising disaster risk, investment in climate-vulnerable markets and the future of tourism at the Commonwealth Business Forum, held alongside the Commonwealth Heads of Government Meeting.

The Government said the Premier’s participation was a chance to outline Bermuda’s experience as an international re/insurance centre and in managing global catastrophe exposure.

Mr Burt said: “As a small island, Bermuda understands first-hand the challenges posed by climate change.

“At the same time, our position as a global insurance and reinsurance centre gives us an important role in helping other jurisdictions manage these risks.”

The disaster-risk discussion comes as Bermuda is trying to build its role in parametric insurance, which pays claims when a pre-agreed trigger — such as a particular wind speed or level of rainfall — is reached.

The Bermuda Monetary Authority said in September that it planned to introduce a new parametric special-purpose insurer class before the end of the year. The framework is intended to support fully collateralised parametric risk-transfer business and help close insurance protection gaps that are often linked to climate risks.

Bermuda is also a member of the Caribbean Catastrophe Risk Insurance Facility, the regional risk pool that provides participating governments with rapid parametric coverage after disasters. The facility reported record payouts of more than $122 million during the 2024-25 policy year, including payments after Hurricane Beryl.

The Government did not identify any agreements or investments arising from the forum. It said the Premier was also holding meetings with stakeholders during the visit.

Mr Burt is scheduled to return to Bermuda tomorrow and is expected to outline a new round of tax-relief measures in the House of Assembly on Friday.