AGP Executive Report
Last update: 2 hours agoRatings & Risk: KBRA has affirmed Bermudian bond insurer Assured Guaranty’s AA+ insurance financial strength ratings and stable outlooks, while also keeping A+ ratings on its debt. Policy & Politics: Environmental groups are urging residents to write MPs in support of the Bermuda Ocean Prosperity Programme, backing legislation for no-fishing marine protected areas as the Government prepares a decision. Corporate Leadership: Antares Global has reshaped its leadership team following the July death of CEO Michael van der Straaten, separating claims, actuarial, compliance and risk support across commercial and retail units. Banking Deal Watch: Butterfield Bank says it has spent about US$16.9m on expenses tied to its proposed acquisition of CIBC Caribbean and remains on track for completion in the first half of 2027, pending shareholder and regulatory approvals. Tourism & Hospitality: Fairmont Southampton is set to open the Palmetto Beach Club on Aug. 13, positioning it as the first guest experience ahead of the resort’s wider reopening. Insurance Sector Signals: Beazley reported a 53% drop in H1 2026 profit before tax to $237.7m, citing war-driven losses and softening cyber pricing, with a pivot toward Bermuda. Reinsurance & Capital Markets: Talcott Financial Group launched West Grove Re, a Bermuda-domiciled $1bn life reinsurance sidecar with Goldman Sachs, while Lockton Re executed an ILW combining property cat and cyber triggers. Tech & Digital Finance: STS Digital’s institutional crypto options and spot liquidity are integrating into the Talos platform, and zerohash and Visa Direct expanded stablecoin prefunding and payout capabilities.
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