AGP Executive Report
Last update: 10 hours agoBMA Bank-Failure Regime: The Bermuda Monetary Authority is consulting on legal changes to formally recognise its role as resolution authority for failing banks, deposit companies and credit unions, aiming to protect depositors and financial stability while noting a full regime will take years. Affordable Housing Contracts: A housing advisory committee says it scrutinised pricing from 16 firms before awarding sole-source precast contracts to two foreign companies, as questions continue over value for money and procurement. Offshore Life Reinsurance Momentum: AM Best says Bermuda is strengthening its position in offshore life and annuity reinsurance, driven by retirement demand and capital efficiency—while warning that offshore recoverability and collateralisation can raise risk. Sun Life–Wilton Re Partnership: Wilton Re and Sun Life are forming Windsor Life Re, a US- and Bermuda-domiciled reinsurer, using about $900m of capital and initially reinsuring roughly $1.7bn of in-force business. Wealth & Funds Market: A look at Bermuda’s private-market liquidity challenges highlights continuation vehicles as exits dry up, with Professional Closed Funds NAV rising while vehicle counts fall. BSX Update: Bermuda Stock Exchange trading on Aug 26 totalled 6,150 shares valued at about $171k, with Butterfield flat and Allshores down 3.6%. Cruise & Tourism Links: Norwegian Cruise Line and PhilaPort marked the opening of Philadelphia’s permanent cruise terminal, while Disney Cruise Line announced renewed New York sailings that include Bermuda stops.
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.
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