The tiny island of Bermuda in the North Atlantic is home to some of the largest insurance and reinsurance companies in the world. They pay for much of the Bermudan economy which has the fourth highest GDP per capita in the world on paper. Very large companies based in Bermuda had paid a cool 0% corporation tax until January this year when the new 15% rate was introduced in line with the OECD reforms.  Ordinary companies still pay zero Corporation tax.

David Burt is the Premier and Finance Minister of Bermuda and is visiting Ireland and attending the European Insurance forum.