AGP Executive Report
Last update: 7 hours agoBanking: Butterfield shares fell 3.6 per cent on the BSX, where the bank was the only stock traded; the exchange index dropped 3.2 per cent. HSBC is reviewing reports of disputed account transactions as police investigate. Insurance: SiriusPoint reported third-quarter net income of $87 million and agreed a RiverStone deal covering almost all its remaining run-off reserves, expected to free up more than $200 million in capital. Assured Guaranty’s profit fell 26 per cent to $78 million, despite higher new-business production. Investment: Gencom, owner of Rosewood Bermuda, bought London’s 308-room Rosewood London in its first European hotel acquisition; HSBC and Santander provided £225 million in financing. Climate finance: Conduit Re backed a proposed Commonwealth-owned risk pool to help countries fund recovery from disasters. The plan remains at an early stage. Workforce and housing: Work-permit jobs rose nearly 31 per cent from 2021 to 2025, while a commentary argues Bermuda has not planned enough housing for the growing workforce. Consumer alert: The BMA warned of scammers impersonating the regulator to obtain bank details; it says it never requests personal banking information by phone or email.
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