AGP Executive Report
Last update: 8 hours agoRegulatory Outreach: The Bermuda Monetary Authority will host an online session on proliferation financing this Thursday, inviting regulated firms and stakeholders to discuss PF risks, red flags, reporting duties and how to operationalise PF into AML/counter-proliferation frameworks. Union Leadership: BIU president Chris Furbert says he will retire at the end of his term, stepping down in March 2028 after 22 years leading the union. Tax Cashflow: Premier David Burt told the House that Bermuda’s Corporate Income Tax agency has collected over $1bn in aggregate payments so far, with 137 payments recorded from constituent entity groups. Re/Insurance Ratings: AM Best affirmed Rembrandt Insurance Company’s A (Excellent) financial strength and “a” (Excellent) issuer credit ratings, citing very strong balance sheet strength and strong operating performance. Offshore Life Reinsurance: Fitch expects continued strong growth in offshore life reinsurance, with Bermuda remaining the dominant primary jurisdiction. Competition & Consumer Protection: Age Concern Bermuda is urging that Bermuda’s competition and consumer-protection reforms keep regulation accessible and responsive, with non-digital support options. Infrastructure Procurement: MPs heard bids are under review for a replacement Swing Bridge in the East End, with government working “in principle” on a required land purchase. Local Planning: CedarTree Vets has filed to convert a Devonshire residence into a veterinary clinic, citing growth and limited traffic after surgery hours. Global Finance Restructuring: Bitcoin Suisse plans to cut up to 60 Swiss jobs and close its Copenhagen IT site as it shifts more back-office and software work to international hubs, including plans involving Bermuda.
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