Losing the red tape

Every international offshore financial centre has developed its own specialist areas, and in Bermuda's case it is insurance that stands out. However, while mutual fund management also continues to grow, assisted by the establishment of the Bermuda Stock Exchange (BSX). Shaun Morris, managing partner for the Bermuda office of Appleby Spurling Hunter, explains: "Bermuda's financial sector is in substance no different from the financial sectors that exist in other offshore financial jurisdictions. "Typically, in offshore jurisdictions the financial services sector is segmented into the foll...