AGP Executive Report
Last update: 3 hours agoInsurance Ratings: AM Best assigned InEvo Re Ltd an A- Financial Strength Rating and “a-” long-term issuer credit rating, citing a very strong balance sheet, strong Macquarie Group capital support, and growing demand for asset-intensive reinsurance. Reinsurance Performance: Fitch said Bermuda’s top reinsurers posted a very strong first-half underwriting result as catastrophe losses eased, though competition is starting to pressure premiums. Cat Bond Milestone: Mangrove Property Insurance marked the launch of its inaugural catastrophe bond, Buttonwood Re Ltd., with a bell-ringing ceremony at the Bermuda Stock Exchange. Corporate Moves: Conduit Re appointed Anthony Mongiello as COO, while Vantage Group named Lucy Fato as general counsel. Digital Finance Policy: Premier David Burt said legislation to advance a private-sector Bermuda digital dollar will go before lawmakers next month. Anti-Money Laundering Courts: Bermuda’s Chief Justice issued a practice direction requiring courts to prioritise money laundering and terrorist financing cases. Housing Push: The Government set a new target of 400 affordable homes in the next 18 months. Marine & Ports: Marine & Ports Services published the weekly shipping schedule for arrivals starting Aug 22. Business Pulse: Bermuda Stock Exchange trading was flat on Aug 21, with no shares changing hands.
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