Bermuda, looking to jump-start its economy in light of the global financial crisis, has launched a new growth initiative–in part to counter negative publicity about the island's image as a tax haven for insurers and other firms.
The "Bermuda First" program involves about 60 participants from "across the entire spectrum of Bermuda's community," according to its co-chair, Don Kramer, chief executive officer of Bermuda-based Ariel Reinsurance.
Although the island's government is heading the initiative, "politics have been pulled out of this and it's strictly bipartisan," added Mr. Kramer, whose co-chairs include Bermuda Premier Ewart Brown and Kim Swan, the opposition leader.
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