AGP Executive Report
Last update: 11 hours agoInsurance & Reinsurance: Symetra and TIAA launched Mariner Re, a Bermuda-licensed reinsurer backed by TIAA’s $750 million equity investment to support Symetra’s annuity business. Tourism Links: BermudAir began Fort Lauderdale–Turks and Caicos service and plans seasonal Fort Lauderdale–Bermuda flights from December; United’s weekly Chicago route is due to start in April 2027. Financial Services: Bermuda’s new arbitration centre has partnered with Toronto’s Arbitration Place for digital and hybrid hearings ahead of its planned November opening. Housing: Chelsea House’s East End renovation is complete, adding five affordable apartments; the wider government plan aims to bring 229 homes to market. Energy: A local column warns that changes to electricity charges and solar export payments may make residential solar unaffordable for many households, potentially slowing investment. Public Finances: Bermuda’s first-year estimate from the global minimum tax has risen from $188 million to $291 million, as the island’s domestic 15% levy captures revenue that might otherwise go to other countries. Economic Growth: The economy grew for a fifth straight year, according to a recent report.
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