Brian Duperrault, CEO of Bermuda-based insurance provider, ACE, which has been resident in the jurisdiction for some 17 years, warned on Tuesday that the Island should endeavour to safeguard its reputation in the light of the recent furore over corporate inversions.
Speaking to the Hamilton Rotarians on Tuesday, Mr Duperrault echoed the concerns recently expressed by Opposition UBP Leader, Dr Grant Gibbons, and suggested that the government should review its policy with regard to the incorporation of foreign companies in Bermuda.
'We should look at our standards and raise them. It would not be fair to change rules after the fact, but it is an appropriate time to take a look at what is good for Bermuda,' the ACE chief was quoted by the Royal Gazette as observing.
He continued: 'I am not talking about the US, but talking about what Bermuda should do. Our first line of defence should be that Bermuda has to maintain its reputation...The Island has earned the right and has the responsibility to be even more vigilant and demanding of the companies who want to join this community.'
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