AGP Executive Report
Last update: 4 hours agoCaptive Insurance Focus: Bermuda’s captive market is walking a tightrope between tighter governance and keeping the regulatory flexibility that made it a global hub, with Captive Review highlighting how solvency alignment and operational resilience are becoming the new baseline. Strategic Risk Evolution: A second Captive Review panel points to Bermuda’s concentrated expertise and increasingly sophisticated structures as captives expand beyond traditional property coverage into cyber, climate, benefits, and other enterprise risks. Regulator-Ready Resilience: At the 2026 BMA Forum, Bermuda Monetary Authority leadership and industry executives framed captives as tools for managing complexity—while stressing the regulator’s willingness to engage as markets shift. AI & Boardroom Governance: PwC’s Bermuda survey finds 38% of directors think board refresh is needed, with a widening AI oversight gap: many report insufficient AI education and skills to govern AI and GenAI risks. Electricity Policy: The Senate passed the Electricity Amendment Act 2026, aiming to improve affordability and giving the Minister a limited public-interest power to pause and reset planning if it drifts from elected policy. Digital Tools for Nature: DENR launched GIS-based reporting and a live dashboard to help residents and staff track and manage feral birds like chickens and pigeons. Public Service Safety: A Bermuda Bar panel warned that threats against court officers and prosecutors are happening daily, with staff forced to stay constantly alert. Sports & Community: SailGP returns to Halifax with Bermuda-linked momentum, while the Newport Bermuda Race welcomes spectators as the 54th edition marks a 100-year partnership. Ratings Update: AM Best revised Nuclear Electric Insurance Limited’s outlook to positive and affirmed its strong ratings, including Bermuda’s Cedar Hamilton.
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