AGP Executive Report
Last update: 4 hours agoCaptive Insurance & Risk: Bermuda Captive Conference delegates heard that AI risk is “orphaned” on parent-company balance sheets, with many insurers excluding AI from standard policies—panelists urged captives and endorsements to plug the gap. Maritime Reinsurance: Skuld’s Tawana Tannock said Bermuda’s regulatory framework and captive ecosystem underpin the island’s dominance in maritime liability reinsurance, including Hydra’s role in retaining expensive reinsurance risk. Geopolitics & Finance: Barclays’ Andrew McDougall warned US-China competition will shape markets for a generation, with AI chips and rare earths at the centre. Dealmaking: Howard Hughes Holdings completed its $2.1bn acquisition of Bermuda specialty re/insurer Vantage Group. Local Business & Markets: Bermuda Stock Exchange trading on June 4 saw Butterfield shares down 3.6% and the BSX index fall 3.11%. People Moves: Cedar Trace appointed Chris Wilson as managing director to expand its ILS platform. Public Health: Bermuda’s Ministry of Health said Ebola risk remains low, with monitoring after WHO alerts in the DRC and Uganda. Aviation & Tourism: BermudAir announced major winter expansion, adding new routes to Turks & Caicos, Anguilla, Belize and Guatemala City. In Memoriam: Bermuda mourns Sir John Swan, the island’s longest-serving premier, aged 90.
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