AGP Executive Report
Last update: an hour agoReinsurance & Insurance Markets: Property-cat reinsurance rates fell 16% year-on-year at June/July renewals, the steepest drop in 25 years, as ample capacity pressures a soft market—an issue for Bermuda’s reinsurance-heavy ecosystem. Air Transport & Growth: BermudAir will become Airbus’ newest A220 operator, ordering 10 A220-300s (135 seats, three-class) to expand routes across Bermuda, the Caribbean and North America, with deliveries expected from Q4 2027. Digital Currency: Premier David Burt says Bermuda’s proposed digital Bermuda dollar would be privately issued (not a central bank digital currency), running alongside other digital assets. Regulation & Consumer Protection: The BMA warns residents about a “investment opportunity seminar” linked to unregulated UK entities, and separately cautions about payment and fraud scams. Local Policy & Cost of Living: Senators delayed a final vote on cost-of-living amendments that opponents say could enable price controls, likely pushing the decision to September. Construction Supply: Builders report a concrete block shortage driven by constrained supply chains, plant limits and storage issues, affecting major projects including Luscar Place and the Nuvem cable landing. Health Oversight: The Bermuda Health Council (Miscellaneous Amendments) Act 2026 passed, expanding pharmacy oversight—sparking criticism over complexity and the impact on smaller providers. Business & Finance: Payward/ Kraken’s xStocks partnership with GTN aims to expand tokenized equities beyond US markets into Hong Kong first, then the UK, Europe and South Korea. Legal/Professional Services: Carey Olsen and Appleby both secured strong Chambers High Net Worth rankings, with Bermuda trusts/private wealth highlighted.
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.