AGP Executive Report
Last update: 31 minutes agoReinsurance & Capital Markets: Mangrove Property Insurance says it has expanded its 2026-2027 catastrophe reinsurance programme, adding 36 new partners and boosting capacity across a panel of 44 reinsurers plus capital partners including Buttonwood Re. Regulation & Compliance: The BMA will require Police Clearance Certificates for “Key Persons” in AML/ATF regulated financial institution applications from 1 October 2026, tightening fit-and-proper vetting. Competition Policy: Bermuda’s Government is consulting on a Market Fairness policy that feeds into a proposed Competition Act 2026, with potential criminal penalties for hardcore cartel conduct and merger review powers for a new Competition and Regulatory Authority. Healthcare Governance: The Government is advancing a framework for advance review of significant healthcare system changes to protect access, affordability and patient impact. AI Oversight: The BMA has opened consultation on responsible AI use in Bermuda’s regulated financial services, with feedback due 30 October 2026. Insurance Results: Pelagos Insurance Capital reported first-half underwriting profit returning, with gross premiums up 6.6% to $3.14bn and a combined ratio improving to 93.1%. BSX Watch: LOM Financial authorised a share repurchase programme of up to 400,000 shares, citing a gap between share price and book value. Shipping & Trade: Marine & Ports Services published the weekly arrivals schedule for ships commencing August 15. Business Briefs: Gold Reserve provided an update on scheduled litigation/arbitration dates; Fitch expects Digicel earnings of about US$730m-740m for FY2027. Education & Skills: STEAM Academy concluded its summer programme, including a new senior pilot track with career-orientation visits.
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