AGP Executive Report
Last update: 2 hours agoBermuda’s insurance talent pipeline: The Department of Immigration has extended Bermuda’s Actuary Work Permit Policy to July 31, 2027, keeping a fast-track process (10 working days) for qualified actuaries and reinforcing the island’s re/insurance hiring capacity. Electricity affordability focus: Government has finalised the National Electricity Sector Policy 2026, setting direction to 2045 with an “intentionally technology agnostic” approach and a clear emphasis on costed pathways and affordability. Re/insurance results on the tape: PartnerRe reported $447m net income for H1 2026 with a non-life combined ratio of 85.1%, while Everest Group posted $559m net income in Q2 as GWP fell 7.1% amid underwriting discipline and investment volatility. Regulatory and market signals: AM Best affirmed QBE’s strong ratings across Bermuda entities with a stable outlook, and Conduit Holdings said it is prioritising margin over growth as it shifts away from property amid falling prices. Crypto and fintech licensing: Circle New York Trust received a limited purpose trust charter from NYDFS, strengthening the regulatory base for USDC, while Bitget Wallet launched an asset cashback card that converts rewards into Bitcoin, gold, or tokenised stocks. Sports governance: Bermuda Football Association is joining an emergency Concacaf meeting over FIFA’s plan to sell World Cup commercial rights to private investors. Local business update: The Bermuda Stock Exchange saw 2,800 shares trade on July 29, with Allshores up 3.3% to close at $28.00.
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.