Business

Burt talks infrastructure with top executives

  • Infrastructure focus: David Burt, the Premier, centre, flanked by Brian Duperreault, left, and Preston Hutchings, right, and the team from Fortress Infrastructure (Photograph supplied)

Top insurance company executives and investment managers have met with David Burt, the Premier, to discuss plans for the Bermuda Infrastructure Fund.

Mr Burt tweeted a picture from the meeting yesterday, showing him shaking hands with Brian Duperreault, the chief executive officer of US insurance giant American International Group.

Also in the picture is Preston Hutchings, the chief investment officer of Bermudian insurer and reinsurer Arch Capital, and members of the Fortress Bermuda Infrastructure Fund Advisers who will manage the fund.

Mr Burt, who is also Minister of Finance, said in the House of Assembly in November, said the target for the fund was at least $100 million and that the capital would be invested in projects such as upgrading of the energy and sewerage infrastructure and the redevelopment of Hamilton waterfront.