AGP Executive Report
Last update: 12 hours agoAviation Expansion: BermudAir, Bermuda’s homegrown carrier, says it’s betting big beyond the island—rolling out a winter network that adds Turks and Caicos, Belize and Guatemala City, expands Anguilla, and grows Bermuda service, using fifth-freedom flying and a premium leisure model to tackle Bermuda’s seasonality. Insurance Deal: Vantage Group’s $2.1b acquisition by Howard Hughes Holdings has closed, with Vantage keeping its leadership and underwriting strategy as Howard Hughes shifts toward a diversified holding-company model anchored by insurance. Captive Conference Focus: Bermuda Captive Conference delegates heard that AI risk is “orphaned” on parent-company balance sheets, with many firms using AI but lacking dedicated AI liability cover; speakers also highlighted Bermuda’s maritime liability reinsurance leadership and how captives help retain expensive risk. Appointments & Ratings: InEvo Re hired Alex Brogden as Chief Underwriting Officer; Cedar Trace named Chris Wilson managing director; AM Best affirmed North End Re’s A-/a- ratings. Markets: The BSX index fell 3.11% to 3,486.57 on June 4, with Butterfield down and Bermuda Aviation Services up sharply. Local Business Legacy: Walkers marked 10 years in Bermuda, celebrating growth and local talent development since opening in 2016.
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