AGP Executive Report
Last update: 2 hours agoBMA Resolution Planning: The Bermuda Monetary Authority has proposed a framework to “resolve” failing insurers, with the BMA taking charge of orderly restructuring or winding down to protect policyholders and limit disruption, including for domestic insurers and international groups under BMA supervision. Reinsurance Scrutiny: A wider market spotlight is on life reinsurance and annuities, where regulators and rating agencies are pressing for clarity on whether risks are truly transferred and who absorbs losses when stress hits. Bermuda Business Climate: Registered local companies fell to a 4½-year low, with the total business count down year-on-year as Bermuda’s corporate income tax rollout continues to reshape the mix. Bespoke Analytics x INTX: INTX announced a strategic partnership with Bermuda-based Bespoke Analytics to expand local delivery for its (re)insurance operating system, including implementation and data migration. Insurance Market Moves: Verve Risk Services launched a financial institutions division in London, while Bermuda’s parametric insurer class is targeted for guidance and implementation in Q4 2026. Banking Deal Progress: Butterfield shareholders approved steps toward its US$1.8bn CIBC Caribbean acquisition, clearing the way for the next stages. Economy & Tourism: SailGP’s 2026 Bermuda event generated an estimated $7.2m in economic impact, driven by a surge in international spectators. Local Governance & Cost of Living: A Senate cost-of-living vote kept the status quo, while debate continues over how price monitoring powers should work. Business & Community: The Committee of 25 awarded $25,000 in scholarships to five Bermudian students supporting children and families, and the Bermuda Chess Association secured a new scholarship for a Bermuda College student.
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