AGP Executive Report
Last update: 10 hours agoReinsurance Rates & Capital Decisions: Ahead of Monte Carlo’s Rendez-Vous, analysts say property-cat pricing has softened and reinsurers are nearing a “breaking point” on how far they’ll let rates fall before walking away. Catastrophe Market Tech: Harneys and droppRWA plan the first catastrophe bond with on-chain legal title, targeting early 2027 and aiming to fix the ownership-record gap in Bermuda’s ILS ecosystem. Life Reinsurance Boom: Morningstar DBRS puts Bermuda’s life/annuity sidecar market at about $375bn in assumed liabilities, up sharply since 2021, as sidecars keep expanding beyond property-cat. Company Moves in Bermuda Re/Insurance: Aspida appoints Brian Lewis as CFO of Aspida Life Re; Conduit Re adds senior property hires; Chariot Re closes a $700m raise to expand life/annuity underwriting capacity. Local Labour & Business Continuity: The Bermuda Industrial Union says BGA/Phoenix will defer a payroll system change that could have left workers short, after talks following strike concerns. Immigration Integrity: Minister Jason Hayward says Bermuda lacks a sham-marriage definition and investigation authority, but a new policy framework will allow referrals and potential refusal or revocation of immigration benefits. Road Safety & E-bikes: A lawyer warns riders face serious consequences as e-bike speeds rise; MPs are set to debate clearer rules as the House returns. Housing Strategy: The Government outlines rehabilitation and repurposing plans to expand Bermuda’s housing stock, including progress at Chelsea, 18 Battery Road and Harmony. Education Funding: Minister Diallo Rabain reports 2026 scholarships and awards support totalling about $2.6m, plus the College Promise Program. Aviation Deal: BermudAir marks its third anniversary with a 30% fare discount for travel later this year. Markets: Bermuda Stock Exchange trading updates show Butterfield up and the BSX higher on Sept 3.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.