AGP Executive Report

Tourism Leadership: Bermuda Tourism Authority has named Jan Hutton as its new CEO, stepping in July 1 to steer the visitor economy through a new phase of hotel capacity and airlift momentum. Energy Policy Fight: The public consultation on Bermuda’s National Electricity Sector Policy is closing this week, with solar affordability and grid-cost drivers still sparking sharp debate. Solar Farm Pressure: In the UK, the “massive solar farm near M4” case is moving through a formal six-month examination process after public objections—Bermuda watchers will be tracking how timelines and hearings play out. Reinsurance Capital Boost: Prismic Life has completed a $1.9bn capital raise, pushing total raised to $3.3bn as it expands reinsurance capacity. Aviation Customer Win: BermudAir says it hit a world-class Net Promoter Score of 70 ahead of Bermuda Day. Insurance Appointments: Chubb Bermuda promoted Robert Spurling to Head of Financial Lines, while HSBC Bermuda announced board changes including Barclay Simmons as chairman.

Tourism Leadership Shake-up: Bermuda Tourism Authority has named global tourism executive Jan Hutton as its next CEO, starting July 1, as the island leans into new hotel capacity, expanded airlift and fresh tourism investment. Capital Markets & Reinsurance: Prismic Life just finished a $1.9bn capital raise (target $1.6bn), boosting capacity for more reinsurance opportunities. Aviation Pride: BermudAir says it hit a world-class Net Promoter Score of 70, putting the carrier among the top performers for customer satisfaction. Digital Finance: Walkers published a fintech white paper at Consensus, spotlighting how Bermuda is handling stablecoins and keeping regulation “facilitator” rather than blocker. On-Chain Regulation: Plume secured a Bermuda digital asset business license, positioning it as a regulated on-chain vault manager. Energy Crossroads: A fresh public debate is still building around Bermuda’s National Electricity Sector Policy, with the consultation closing this week. Sports & Culture: SailGP confirmed Bermuda will host again in 2027 (May 1–2).

Energy Policy Showdown: Bermuda’s National Electricity Sector Policy consultation is closing this week, and the debate is getting sharper: Belco president Wayne Caines says all generators—including private solar—must be cost-regulated to stop “the least able” being subsidised, while BE Solar CEO Robbie Godfrey counters that solar is only ~3% of Bermuda’s power and blames structural grid-cost pressures instead, pushing for tariff reform and community solar. Tourism Leadership: The Bermuda Tourism Authority has named Jan Hutton as its next CEO, starting July 1, bringing AI-and-destination strategy experience from Australia’s Tourism Data Warehouse. Workplace Fairness: Senator Lauren Bell says a Pay Transparency Policy consultation is open now, with feedback due June 30. Finance & Insurance: HSBC Bermuda announced board changes, and Chubb Bermuda promoted Robert Spurling and David Jenkins into new leadership roles. Health Access: Allshores is funding DailyMale with $270,000 over three years to expand free screening outreach across the island.

Tourism Leadership: The Bermuda Tourism Authority has named global tourism executive Jan Hutton as its next Chief Executive Officer, starting July 1, bringing deep destination strategy and AI-driven innovation experience to a “critical time” for Bermuda’s visitor economy. Labour Policy: A new Pay Transparency consultation is now open, with feedback due June 30, aiming to tackle wage disparities tied to race, gender, ethnicity and immigration status. Regulated Crypto Push: Plume secured a Bermuda Monetary Authority digital asset business license, positioning it as a regulated on-chain vault manager as tokenization momentum grows. Finance Governance: HSBC Bermuda announced board changes, including Barclay Simmons as Chairman and retirements for L. Anthony Joaquin and Fiona Luck. Healthcare Access: Allshores is funding DailyMale with $270,000 over three years to expand free screening outreach islandwide. Energy Debate: BELCO is urging cost-regulated treatment for all generators, including private solar, as Bermuda shapes its National Electricity Sector Policy.

Bermuda Day Safety Push: Ministers Owen Darrell and Michael Weeks urged revellers to enjoy the holiday “responsibly,” stay off the parade route unless crossing safely, and keep kids close around moving vehicles. Caricom Membership Debate: East End residents asked for more time and wider consultation before Bermuda applies for full Caricom membership, with some questioning timing and at least two attendees opposing. Golar LNG Shareholder Update: Golar LNG declared a $0.25 per share dividend, record June 1 and payable June 10 (with Norway VPS distribution on June 12). SailGP Returns: SailGP confirmed Bermuda’s Apex Group Sail Grand Prix will come back May 1–2, 2027, after a sold-out 2026 event. Insurance Market Move: Mereo will take over Excess Casualty Energy excess business from Everen Specialty from June 1, with ESL continuing claims servicing. Ridesharing Rollout: 50 applications received so far; the permit process stays open beyond May 14 until all 150 permits are issued. BMA Leadership: The Monetary Authority appointed Mesheiah Keane as COO and Graham Collier as CTO to support digital supervision and resilience.

Energy Policy Showdown: BELCO president Wayne Caines says Bermuda must regulate all electricity generators—including private solar PV—to control costs and stop “those who can least afford electricity” being subsidised, as the National Electricity Sector Policy consultation runs to May 21. Regulator Moves: The Bermuda Monetary Authority appoints Mesheiah Keane as COO and Graham Collier as CTO, aiming to streamline supervision and strengthen operational resilience. Digital Finance Momentum: Block Infrastructure demonstrated its BlockTravel Compliance Oracle at the Bermuda Digital Finance Forum, showing compliance checks and settlement triggered automatically on the Canton network. Banking Leadership: HSBC Bermuda names Barclay Simmons as incoming chairman, replacing Anthony Joaquin. Insurance Expansion: Mereo expands into excess casualty insurance via a renewal rights transaction with Everen Specialty, with underwriting leadership moving to Mereo from June 1. Local Disruption: Port Royal Primary School closed due to insufficient staff amid an ongoing education dispute. Space & Telecom: Bermuda opens consultation on licensing ground-based Earth stations to support its satellite economy.

BMA Leadership Shake-up: The Bermuda Monetary Authority has named Mesheiah Keane as COO and Graham Collier as CTO, aiming to keep supervision streamlined and bolster operational resilience as the regulator leans further into digital oversight. Digital Finance Momentum: A Digital Payments Workshop and Vendor Market wrapped up alongside the Bermuda Digital Finance Forum, with residents getting hands-on with USDC spending and small businesses pushing digital literacy forward. Education Flashpoint: Port Royal Primary School shut for the day due to insufficient staff, with questions still swirling over whether it’s tied to an ongoing teacher dispute. Energy Policy in Focus: Home Affairs Minister Alexa Lightbourne told a public forum that updating Bermuda’s electricity policy needs a “holistic” approach balancing affordability, reliability, and fast-changing technology. Road Safety Pressure: OBA MP Linda Smith renewed calls for traffic calming on Church Road after months of little movement. Weather Watch: “Another Hot Day” is on deck, with storms returning tomorrow.

Corporate Tax Update: CITA has opened a consultation on proposed amendments to the Corporate Income Tax (Administrative) Regulations 2025 and a new set of rules to administer the Tax Credits Act 2025, aiming to cut administrative complexity and improve clarity for taxpayers; submissions close June 3. Planning Transparency: The Department of Planning launched a new online quarterly statistics resource tracking planning applications, permits, inspections and other operations—positioned as a clearer read on development activity and departmental performance. Taste of Bermuda Bids: Hamilton is calling for proposals for two immersive Taste of Bermuda 2026 dining experiences in October, including a projection-mapping table event at Pier Six and a Ratatouille-themed dinner at Fort Hamilton. Space & Spectrum: Home Affairs opened public consultation on a licensing framework for Bermuda ground-based Earth stations, outlining a two-tier approach plus spectrum, cybersecurity and oversight requirements. Telecom Spotlight: Paradise Mobile CEO Sam Tabbara told a Mobile Network Innovation Summit that telecom’s problem is value capture—not relevance—arguing Bermuda’s AI-native approach is built to participate in that value. Electricity Policy: The NESP 2026 consultation continues, with a public meeting set for May 18 as the Government balances affordability and reliability while updating the island’s energy targets.

Education Dispute: Port Royal Primary School shut for the day after the Ministry of Education cited insufficient staff, leaving parents scrambling as students were dismissed early; it’s still unclear if this is tied to last month’s teacher-admin-leave controversy. Space & Telecom Policy: Bermuda opened public consultation on a licensing framework for ground-based Earth stations—aimed at growing the satellite economy with a two-tier system, spectrum oversight, and cybersecurity obligations. Energy Costs Watch: Home Affairs Minister Alexa Lightbourne warned that LNG infrastructure would be “costly,” pushing affordability to the front as the National Electricity Sector Policy heads toward a May 21 consultation deadline. Finance & Shipping: Marex says it has completed its consent solicitation for 6.404% notes due 2029, while Bermuda-based DHT Holdings reported a near fourfold Q1 profit jump on strong VLCC markets. Local Culture & Community: Grand Marshals for Bermuda Day were named, and a micro-forest project at Fort William is underway—small wins, big visibility.

Electricity Policy Consultation: Bermuda’s Ministry of Home Affairs is holding a public meeting on May 18 at 6:30pm in Hamilton to discuss the proposed National Electricity Sector Policy 2026, with consultation closing May 21 and written submissions still open via forum.gov.bm. Space & Telecom Regulation: The Government has opened consultation on a consolidated licensing framework for Bermuda’s earth stations, aiming to strengthen the island’s satellite communications position with a two-tier licensing approach and cybersecurity obligations. Plastics Law Debate: OBA’s Linda Smith backs the Single Use Plastics Act 2026 in principle but warns against rushing replacements that could drive unnecessary costs, while MPs have already greenlit the bill’s phased restrictions. Talent & Industry Pipeline: ABIR is kicking off its private-sector internship programme again with Amelia Othman returning as a junior analyst, building on last summer’s policy and regulatory work. Digital Finance Push: Bermudians are getting hands-on with digital payments after an airdrop and market activation tied to the Bermuda Digital Finance Forum.

Digital Finance Push: Bermudians got hands-on with digital wallets after an airdrop, then hit a Pier 6 Digital Payments Market where local vendors could accept payments—an activation tied to this week’s Bermuda Digital Finance Forum. Embedded Supervision: The BMA says an international consortium is working on “embedded supervision” for digital assets, aiming to enforce regulatory requirements at the infrastructure level using Chainlink and other partners. Caricom Debate: A West End town hall on full Caricom membership drew questions about whether the extra $2m should go to education, healthcare, or infrastructure, with Minister Alexa Lightbourne arguing Bermuda can leverage regional tools and successes. Single-Use Plastics Act: MPs approved the Single-Use Plastics Act 2026, with customs duty relief for alternatives and phased restrictions—no blanket ban until practical substitutes are ready. Air Connectivity: Jamaica announced it will host the second CTO Air Connectivity Summit in Kingston on Feb. 23, 2027, building on Bermuda’s inaugural event.

Sports Spotlight: Lee University’s Drew Zielinski has been named a finalist for the 2026 NCAA Division II Jack Nicklaus Player of the Year Award, with the winner set to be announced June 7. Marine & Environment: Grenada’s Southern Fishermen Association leader James Nicholas says the island has lost over 30 fish species in recent years, blaming pesticide run-off from banana spraying and mangrove cutting. Bermuda Policy Watch: MPs have passed the Single-Use Plastics Act 2026, with customs duty relief promised for alternatives and phased restrictions coming in—no blanket ban, and prohibited items will be added only when practical substitutes exist. Digital Finance Momentum: Bermudians took part in a Digital Payments Market after an airdrop to new digital wallets, with local vendors invited to accept digital payments. Local Governance: Hamilton has formally welcomed Dr. Michael Branco as Mayor after his May 7 election win and swearing-in ceremony.

Digital Finance Push: Bermudians got hands-on with digital wallets after an airdrop, then headed to Pier 6’s Digital Payments Market to spend digital assets with local vendors—an activation tied to this week’s Bermuda Digital Finance Forum. Embedded Supervision: The BMA says it’s working toward a supervisory model where digital-asset rules are enforced at the infrastructure level in real time, using an embedded supervision solution with partners including Chainlink. Shipping & Trade Rhythm: Marine & Ports Services published the week’s arrivals schedule starting May 16, with cruise, container, and SailGP vessels on the calendar. Environment & Governance: MPs passed the Single-Use Plastics Act 2026, with customs duty relief for alternatives and phased restrictions; separately, Fort William’s overgrown area is being turned into a micro forest with native and endemic plants. Regional Connectivity: Jamaica announced it will host the second CTO Air Connectivity Summit in Kingston on Feb. 23, 2027, building on Bermuda’s inaugural event.

Single-Use Plastics Law: MPs have passed Bermuda’s Single-Use Plastics Act 2026, with phased restrictions and customs duty relief for approved alternatives—no blanket ban, and the government says it won’t prohibit items until practical substitutes exist. Medical Cannabis Framework: The House heard plans for a “safe and lawful” regulated medical cannabis pathway, treating approved products like other controlled prescription medicines under clinical oversight. Digital Finance Push: Bermuda’s Digital Finance Forum is spilling into real-world use—residents got digital wallet access via an airdrop and businesses are testing digital payments at Pier 6. Local Governance & Culture: Dr. Michael Branco was formally invested as Mayor of Hamilton, while Bermuda Day grand marshals were unveiled “for the culture.” Environment & Resilience: Volunteers helped turn an overgrown Fort William area into a micro forest of native and endemic plants, and hurricane season is now just two weeks away.

Digital Finance Rollout: Bermudians got hands-on with digital wallets after a Pier 6 airdrop, with a Digital Payments Market now rescheduled for today (4pm–9pm) after weather disrupted Community Day—government tickets covered participation and up to $100 in digital assets for on-site spending, while ~35 vendors are set to learn how to accept digital payments. Public Debate on Caricom: At a West End town hall, residents questioned whether Bermuda should spend an extra $2m on full Caricom membership, arguing the benefits aren’t clear and the public has limited say—Home Affairs Minister Alexa Lightbourne said deeper ties could help solve local challenges by leveraging other countries’ tools. AI in Government: Bermuda also announced a partnership with Near AI to deploy secure AI across public services, aiming to protect citizen data at the infrastructure level. Hurricane Season Watch: With the Atlantic season starting in about two weeks, Bermuda coverage is already shifting to preparedness.

Digital Assets Supervision: The BMA is pushing an “embedded supervision” model for digital assets—regulatory rules enforced inside infrastructure in real time—using Chainlink plus partners like Apex Group and Hacken, aiming to speed up compliance without losing oversight. Public-Sector AI: Bermuda also announced a secure AI partnership with Near AI, focusing on confidential inference so public servants can use AI without exposing citizen data. Transport Pressure Relief: Rideshare permits are moving—33 of 41 applications vetted, with hopes to reach about 71 vehicles on the road by June 10 to ease peak-season strain. Local Environment & Heritage: Volunteers helped launch micro-forests at St George’s fortification, swapping invasive plants for native species with the Bermuda Zoological Society. Business & Markets: IGI raised its quarterly dividend to $0.075; Teekay and Teekay Tankers also announced special dividends. Culture & Lifestyle: Long Bay Rosé officially launched, and TROIKA Bermuda set auditions for The Wiz (June 19–20).