AGP Executive Report
Last update: 3 hours agoInsurance & Reinsurance: Bermuda recorded 51 insurance registrations through September, up 18.6% year on year, including a rise in Class E long-term registrations. Bermuda-headquartered Banyan Risk is expanding into the US excess-and-surplus casualty market, while island-domiciled mea found just 8% of insurance outsourcing users would renew unchanged as buyers seek AI efficiencies. Housing & Construction: Government defended no-bid contracts for the first phase of its $418.5 million affordable-housing scheme, calling direct negotiations fiscally prudent; it says phase two will use formal procurement. A new shipment of 1,500 pallets of concrete block offers builders another supply source. Tourism Investment: Plans for a rebuilt Elbow Beach Hotel include a tax holiday of up to 15 years and 22 luxury residences, with demolition potentially starting by year-end. Jobs & Cost of Living: Employment rose for a fourth straight year, though 2025 figures showed fewer jobs held by Bermudians. Unions are urging Government to use corporate income-tax revenue to fund free HIP and FutureCare premiums. Financial Services: Bermuda is promoting its digital-assets regime in Washington, with Premier David Burt leading a delegation to DC Fintech Week.
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