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Bermuda Reports Increase In Foreign Investment Assets

by Mike Godfrey, Lowtax.net, Washington
04 December, 2017

The value of Bermuda's foreign portfolio investment assets increased by eight percent in 2016, as a result of growth in total assets held by the island's insurance sector.

The findings are contained in the latest "Coordinated Portfolio Investment Survey" issued by the Bermuda Monetary Authority, the island's financial services regulator. The Survey measures Bermuda's holdings of foreign portfolio investment assets, which comprise tradable financial instruments – other than direct investments or reserve assets – issued by non-residents.

The Survey shows Bermuda's foreign portfolio investment assets amounted to USD546,249m as of December 31, 2016. Debt securities comprised 82 percent of the total, with 93 percent of these securities being long-term debt securities.

US holdings in the United States once again dominated Bermuda's foreign portfolio investment assets accounting for 58 percent, an increase of seven percent from 2015.

The insurance sector heavily dominated Bermuda's foreign portfolio holdings with an ownership share of 84 percent, followed by investment funds accounting for 14 percent, and banks with two percent.

The Survey is part of the International Monetary Fund's (IMF) comprehensive international survey. Bermuda says its participation in the IMF survey contributes to improved understanding of the island as an international financial center and its impact on global financial intermediation.

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