AGP Executive Report
Last update: 2 hours agoBMA AI Safeguards: The Bermuda Monetary Authority has opened consultation on guidance for AI use across regulated financial services, stressing that firms can’t outsource responsibility for AI-driven decisions and must keep governance, risk, cybersecurity, outsourcing and record-keeping in place. Insurance & Reinsurance Appointments: ABIR named Elizabeth Breeze as its new Treasurer and refreshed its Finance Committee; Price Forbes also appointed Chris Harris as MD and Head of US casualty. Reinsurance Market Signals: AM Best reported global reinsurance capital hit a record US$663bn at end-2025, projecting US$705bn in 2026, while Envelop Risk secured Lloyd’s in-principle approval to launch Envelop Syndicate 1925 from Jan 1, 2027. Local Economy & Trade: Polaris Holding said construction activity supported cargo volumes, with container TEUs up 3.7% and break-bulk imports up 13.4%. Tourism & Shipping: Norwegian Cruise Line will expand Bermuda sailings in 2028, adding Norwegian Gem to Philadelphia alongside New York and Boston departures. Public Sector & Governance: Bermuda will host Privy Council appeal hearings in April 2027, with the JCPC also planning educational and extrajudicial work during the visit. Community & Business Resilience: Bermuda Cupcake Company reported a suspected hack of devices and social accounts, including unauthorised app downloads. Legal & Education Pipeline: Walkers welcomed eight Bermuda interns for its 2026 legal internship programme, while the Nicholl Scholarship named 2026-27 recipients receiving $30,000 per year.
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