AGP Executive Report
Last update: 2 hours agoBMA Stablecoin Rules: The Bermuda Monetary Authority has launched a consultation on stablecoin guidance for Bermuda captives and other regulated insurance/ILS and fund structures, proposing a cap of stablecoin exposure at 25% of statutory capital and surplus for limited-purpose insurers; feedback is due by 30 September 2026. Insurance Register Update: The BMA also confirmed seven new insurer registrations in June, including Annapurna Re (collateralised), two restricted SPIs, one Class C long-term insurer, and three agents—bringing year-to-date registered insurers to 31. Vantage Leadership Transition: Howard Hughes’ acquisition of Vantage is now reflected in governance changes: Marc Grandisson named executive chairman and David Gansberg appointed CEO designate, with AM Best affirming Vantage’s ratings unchanged. Warwick Seniors Housing: A planning application would turn a Warwick site near Camp Hill into a seniors community with 27 residential units plus on-site care services and amenities. City of Hamilton Finances: The Corporation of Hamilton reported record 2025 revenue of $28.2m and an operating surplus, citing strong goods wharfage and parking fees. Cup Match Logistics: Journi has been appointed official transport partner for Cup Match, adding on-site booking and a seven-day driver trial to boost licensed taxi availability. Cost of Living Oversight: A Cost of Living Commission Amendment Bill would require written notice before certain essential price increases, expanding the public price database and strengthening enforcement powers. Digital Connectivity: Google’s new Nuvem transatlantic subsea cable lands in Portugal with branches to Bermuda, reinforcing the island’s role in cloud and AI infrastructure routes.
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