The newly formed Bermuda First committee should discuss how hurricane devastation in the Caribbean can impact the island’s tourism and reinsurance industries, according to former chairman Don Kramer.

Reacting to the reformation of the group he chaired eight years ago, Mr Kramer was also confident that the 2017 version would benefit from an improved Progressive Labour Party government.

He said the 2009 version had faded partly because the PLP government of the time had not appreciated its value.

This year, Bermuda remained unscathed while major hurricanes swept through the region. While that has been devastating for those living to the south, Mr Kramer believes Bermuda could inadvertently stand to benefit.

He said that reinsurance companies might have taken a hit with payouts, but they had also been able to increase prices.

Mr Kramer, the head of ILS Capital, told The Royal Gazette: “Following all of these hurricanes, Bermuda has the strongest reinsurance industry probably in the world so while the industry took some hits, if you look at these guys the prices are going up. The industry is starting to look very attractive for investors.”

He said that Bermuda First would be wise to maintain its reign over the industry.

Secondly, Mr Kramer said tourists could see Bermuda as a safer destination than islands to the south whose infrastructure was severely impacted by hurricanes.

He said: “I think tourism can come back to Bermuda because of all the losses in the rest of the southern community and the problems of getting to and from places.

“Bermuda has such a good location and security. There has been an improvement in tourism recently, we have The Loren at Pink Beach and the Hamilton Princess has gone uphill as well. Prices are still very high but it is a big improvement and we may see a little more tourism than we have seen before.”

He also said while he was not a fan of Bermuda’s fledgeling casino industry, if successful it would need to be supported by a dynamic entertainment industry. Entertainment was woefully lacking in Bermuda at present, he said.

Mr Kramer said he had more confidence in the new PLP administration than that which was in power from 1998 to 2012, and gave the thumbs-up to new chairman Philip Butterfield, the former HSBC Bermuda CEO.

He said: “This PLP government is a lot better than the previous PLP government — you have got some really good people now and I am very impressed. This Government is getting qualified people and in working closely with Bermuda First.

“Phil is honest and, coming with his banking background and everything else, it really is promising.

“Before, Bermuda First began to fade because the Government said it would do more and it didn’t need the committee as much, but now we have the Government saying ‘let’s work together’.

“It is independent and the Government sees it as useful.”