29 January 2013Bermuda analysis

Bermuda signals end to work permit term limits

Bermuda’s new One Bermuda Alliance (OBA) government has indicated that it intends to end work permit limits for non-Bermudian workers.

Work permit restrictions have been viewed by many in the captive and re/insurance industry as a hurdle to retaining the kind of talent that has made the Island a home for global risk. There is an expectation that a relaxation of term limits will enable Bermuda to continue to retain and nurture industry-leading human capital.    

Commenting on the move by the OBA, Brad Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers (ABIR) told Bermuda Re: “we support the new government’s effort to end term limits. Term limits for the last several years had created impediments to locating and maintaining key employees in Bermuda - something that had never been intended – since its purpose was to prevent an expectation of permanent residence. ABIR members have an excellent track record of hiring talented Bermudians for jobs in Bermuda. We believe that the more senior executives we have in Bermuda, the more jobs there will be for Bermudians.”