Bermuda: Insurance and financial services (% of commercial service imports)

Key figures

What the numbers say

In 2025, Bermuda's insurance and financial services (% of commercial service imports) rose 2.01 percentage points on 2024 (from 17.68% to 19.69%).

Across the 18 yearly changes before that (2007 to 2024), the average change was +0.37 percentage points and a typical year strayed about 2.64 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 5.11 percentage points in 2020 and the biggest yearly fall was 6.11 percentage points in 2015. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2016 to 2025 the straight-line trend is upward, about 0.63 percentage points a year. A straight line explains 64% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2025, Bermuda had the 7th highest value of the 134 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Bermuda in the 2025 ranking

• United States — 4th of 134: 23.58%
• Iraq — 5th of 134: 21.42%
• Congo, Dem. Rep. — 6th of 134: 19.96%
• Tajikistan — 8th of 134: 19.48%
• St. Kitts and Nevis — 9th of 134: 18.53%
• Trinidad and Tobago — 10th of 134: 18.35%

What this measures

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 imports which are commercial services provided by non-residents to residents.

Limitations: Balance of payments statistics, the main source of information on international trade in services, have many weaknesses. Disaggregation of important components may be limited and varies considerably across countries. There are inconsistencies in the methods used to report items. And the recording of major flows as net items is common (for example, insurance transactions are often recorded as premiums less claims). These factors contribute to a downward bias in the value of the service trade reported in the balance of payments. Efforts are being made to improve the coverage, quality, and consistency of these data.

Regional and income-group figures are computed by the World Bank as a weighted average.

All 20 values

Insurance and financial services (% of commercial service imports) in nearby economies

• Canada — 8.89% (2025)
• United States — 23.58% (2025)

More private sector & trade data for Bermuda

• Merchandise imports from high-income economies (% of total merchandise imports) — 96.63% (2023)
• Merchandise imports from low- and middle-income economies outside region (% of total merchandise imports) — 1.32% (2023)
• Merchandise imports from low- and middle-income economies in Latin America & the Caribbean (% of total merchandise imports) — 0.38% (2023)
• Merchandise imports by the reporting economy, residual (% of total merchandise imports) — 2.05% (2023)
• Merchandise imports by the reporting economy (current US$) — US$1.43 billion (2023)
• Merchandise exports to high-income economies (% of total merchandise exports) — 71.84% (2023)
• Merchandise exports to low- and middle-income economies outside region (% of total merchandise exports)

Reading data like this

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Questions people ask

What is Bermuda's insurance and financial services (% of commercial service imports)?

19.69% in 2025, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 8.65 percentage points from 11.04% in 2006. The highest value was 20.42% in 2012 and the lowest 11.04% in 2006.

How does Bermuda rank?

7th highest of 134 economies with data for 2025.

Is the latest change in insurance and financial services (% of commercial service imports) unusual for Bermuda?

In 2025, Bermuda's insurance and financial services (% of commercial service imports) rose 2.01 percentage points on 2024 (from 17.68% to 19.69%). Across the 18 yearly changes before that (2007 to 2024), the average change was +0.37 percentage points and a typical year strayed about 2.64 percentage points from that (the standard deviation). This year's change was 0.6 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator TM.VAL.INSF.ZS.WT, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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