Companies in Bermuda with the highest income tax expense
Income tax expense is the tax a company charged against profit in its income statement for the year. It is not the same as the cash it handed to tax authorities: deferred tax, provisions and timing differences separate the two, often by billions. The cash figure is a different line in the cash-flow statement. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.
Arch Capital (ACGL) tops the list with $760M in income tax expense for fiscal 2025, ahead of Brookfield Infrastructure Partners ($589M) and Renaissancere Holdings ($396M). The top 10 together report $3.0B in income tax expense; the gap between #1 and #10 is ×6.39. 25 companies in Bermuda report income tax expense, 1.1% of the 2320-filer universe. The last place on the list, Nordic American Tankers, comes in at $48,000.
| # | Company | Income tax expense | YoY | 15-year trend |
|---|---|---|---|---|
| 1 | Arch CapitalACGLBMFinancials | $760M | +109.9% | |
| 2 | Brookfield Infrastructure PartnersBIPHBMIndustrials | $589M | +118.1% | |
| 3 | Renaissancere HoldingsRNRBMFinancials | $396M | +1,114.7% | |
| 4 | Everest GroupEGBMFinancials | $296M | +146.7% | |
| 5 | Axis CapitalAXSBMFinancials | $217M | +$272M | |
| 6 | GenpactGBMIndustrials | $178M | +8.9% | |
| 7 | Nabors IndustriesNBRBMEnergy | $163M | +186.4% | |
| 8 | Brookfield Property PartnersBPYPPBMReal estate | $157M | −45.7% | |
| 9 | Essent GroupESNTBMFinancials | $132M | +4.6% | |
| 10 | Assured GuarantyAGOBMFinancials | $119M | +24.0% | |
| 11 | Brookfield Wealth SolutionsBNTBMFinancials | $104M | +$138M | |
| 12 | Aspen InsuranceAHL-PDBMFinancials | $104M | +$126M | |
| 13 | Brookfield Business PartnersBBUCBMIndustrials | $93.0M | +$394M | |
| 14 | SiriuspointSPNTBMFinancials | $81.2M | +164.5% | |
| 15 | Pelagos Insurance CapitalPLGOBMFinancials | $50.1M | +116.9% | |
| 16 | Borr DrillingBORRBMEnergy | $40.9M | −29.7% | |
| 17 | Cushman & WakefieldCWKBMReal estate | $26.0M | −41.6% | |
| 18 | Bank of N.T. Butterfield & SonNTBBMFinancials | $6.0M | +33.0% | |
| 19 | Golar LNGGLNGBMIndustrials | $4.3M | +$4.3M | |
| 20 | SeapeakSEAL-PABMIndustrials | $3.1M | +$5.6M | |
| 21 | SFLSFLBMIndustrials | $1.9M | −82.3% | |
| 22 | DHT HoldingsDHTBMIndustrials | $413,000 | −32.1% | |
| 23 | Ardmore ShippingASCBMIndustrials | $241,000 | +12.1% | |
| 24 | Flex LNGFLNGBMIndustrials | $82,000 | −37.9% | |
| 25 | Nordic American TankersNATBMIndustrials | $48,000 | +$58,000 |
All figures from SEC filings · FY2025 · 25
see sources
- Arch Capital 0000947484-26-000017
- Brookfield Infrastructure Partners 0001406234-26-000002
- Renaissancere Holdings 0000913144-26-000012
- Everest Group 0001095073-26-000006
- Axis Capital 0001214816-26-000097
- Genpact 0001398659-26-000004
- Nabors Industries 0001104659-26-014997
- Brookfield Property Partners 0001545772-26-000006
- Essent Group 0001448893-26-000009
- Assured Guaranty 0001273813-26-000011
- Brookfield Wealth Solutions 0001837429-26-000008
- Aspen Insurance 0001267395-26-000007
- Brookfield Business Partners 0001628280-26-022148
- Siriuspoint 0001576018-26-000032
- Pelagos Insurance Capital 0001628280-26-015356
- Borr Drilling 0001628280-26-021450
- Cushman & Wakefield 0001628369-26-000008
- Bank of N.T. Butterfield & Son 0001653242-26-000006
- Golar LNG 0001628280-26-021198
- Seapeak 0001308106-26-000002
- SFL 0001289877-26-000008
- DHT Holdings 0001140361-26-010407
- Ardmore Shipping 0001104659-26-024690
- Flex LNG 0001628280-26-012574
- Nordic American Tankers 0001140361-26-017809
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CompaniesRanked. (September 25, 2026). Companies in Bermuda with the highest income tax expense. CompaniesRanked. https://companiesranked.com/en/companies-in-bermuda-with-the-highest-income-tax-expenseBibTeX
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author = {{CompaniesRanked}},
title = {{Companies in Bermuda with the highest income tax expense}},
year = {2026},
howpublished = {\url{https://companiesranked.com/en/companies-in-bermuda-with-the-highest-income-tax-expense}},
note = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
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