AGP Executive Report
Last update: 6 hours agoMarket Moves: Bermuda reinsurers joined a US stock rally after Democrats won control of Congress, while island shipping shares fell sharply. Shipping: SFL reported third-quarter net income of $37.4 million and declared a 22-cent dividend; planned tanker sales are expected to generate a $175 million gain. Financial Oversight: The Bermuda Monetary Authority has published commercial long-term insurers’ asset and liability statements for the first time, expanding public disclosure. Reinsurance: Fortitude Re closed its $3.8 billion long-term-care deal with Unum, covering about 50,000 policies, with the insurance risks transferred to another reinsurer. Shareholder Returns: Lancashire Holdings will pay a $182 million special dividend after strong underwriting results, despite softer pricing in some markets. Air Links: BermudAir has begun nonstop service between Bermuda and Orlando Sanford International Airport, adding another Central Florida connection. Business Infrastructure: Digicel’s proposed copper-network shutdown could affect legacy systems still used by 38 per cent of commercial customers, including alarms and payment terminals.
Note: AI summary from news headlines; neutral sources weighted more to help reduce bias in the result. Feedback is welcome. Please let us know if you have any comments or suggestions about the AGP Executive Report.
Perspectify News
