Insurance and financial services (% of commercial service exports) in Bermuda
Bermuda: Insurance and financial services (% of commercial service exports) was 27.9% in 2025. ▲ Rising
Insurance and financial services in Bermuda, 2006–2025
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of commercial service exports.
Analysis
The most recent figure for insurance and financial services in Bermuda is 27.9%, measured in 2025.
The figure is up 38.2% on the previous year and up 36.3% over ten years.
Over the whole period, insurance and financial services in Bermuda peaked at 28.2% in 2020 and was at its lowest, 16.5%, in 2006.
That places Bermuda 8th out of 190 countries with data for 2025, putting it in the top 10%.
The long-run direction has been consistently rising across the 20 years of available data.
Insurance and financial services (% of commercial service exports) in Bermuda, year by year
| Year | % of commercial service exports | Change |
|---|---|---|
| 2006 | 16.5% | — |
| 2007 | 19.1% | +15.4% |
| 2008 | 19.3% | +1.4% |
| 2009 | 17.4% | -10.0% |
| 2010 | 19.3% | +11.1% |
| 2011 | 18.7% | -3.2% |
| 2012 | 20.4% | +9.2% |
| 2013 | 19.5% | -4.3% |
| 2014 | 22.2% | +13.9% |
| 2015 | 20.5% | -7.8% |
| 2016 | 19.7% | -4.0% |
| 2017 | 18.5% | -6.1% |
| 2018 | 18.8% | +1.7% |
| 2019 | 17.7% | -6.0% |
| 2020 | 28.2% | +59.4% |
| 2021 | 27.9% | -0.9% |
| 2022 | 22.5% | -19.4% |
| 2023 | 20.0% | -11.4% |
| 2024 | 20.2% | +1.3% |
| 2025 | 27.9% | +38.2% |
Bermuda compared with similar countries
- Bermuda's 27.9% is above the median for high income countries, which is 5.2%, 5.3× the median. (69 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 18.1% | 16.5% | 19.3% | 4 |
| 2010s | 19.5% | 17.7% | 22.2% | 10 |
| 2020s | 24.5% | 20.0% | 28.2% | 6 |
Countries ranked near Bermuda
- 5 Sierra Leone 32.7% compare
- 6 Bahrain 29.0% compare
- 7 Hong Kong 28.8% compare
- 9 Nigeria 25.3% compare
- 10 United Kingdom 25.2% compare
- 11 Guinea-Bissau 21.6% compare
More private sector data for Bermuda
- Merchandise trade 14.6% (2024)
- Food imports 22.8% (2025)
- Manufactures imports 56.5% (2025)
- Merchandise imports 1.25 billion current US$ (2025)
- Commercial service imports 1.30 billion current US$ (2025)
- Food exports 1.1% (2025)
- Manufactures exports 98.2% (2025)
- Merchandise exports 43.00 million current US$ (2025)
- Commercial service exports 1.90 billion current US$ (2025)
- Merchandise exports (current US$), per capita 666.1 current US$ per person (2025)
Frequently asked questions
- What is insurance and financial services in Bermuda?
- Insurance and financial services in Bermuda was 27.9% in 2025, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Bermuda?
- The highest recorded value was 28.2% in 2020.
- What is the lowest insurance and financial services recorded in Bermuda?
- The lowest recorded value was 16.5% in 2006.
- How does Bermuda rank for insurance and financial services?
- Bermuda ranks 8th out of 190 countries with data for 2025.
- Is insurance and financial services rising or falling in Bermuda?
- Over the last ten years it is up 36.3%. The long-run trend across the full record is rising.
- Where does this Bermuda data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of commercial service exports). Statizoid updates them automatically from the source API.
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CSV · JSON — 20 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Financial services covers services related to financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. It also includes insurance and pension scheme services which are services related to providing life insurance and annuities, non-life insurance, reinsurance, pensions, standardised guarantees and auxiliary services to insurance, pension schemes, and standardised guarantee schemes. This indicator is expressed as a percentage of service exports which are commercial services provided by residents to non-residents.