AGP Executive Report

Digital Finance: Bermuda-regulated STS Digital was named North America’s top digital-assets trading venue by Euromoney, recognising its institutional trading platform. Jobs and Skills: Government figures show 65 fewer Bermudians held jobs in 2025, even as total employment rose by 369. Bacardi has opened applications for its fifth local bartender-training cohort, while Endeavour’s maritime programme reports that more than 70 per cent of its 92 alumni are employed or continuing their education. Investment Risk: At ILS Bermuda Convergence, a Nuveen executive warned investors to check for overlapping exposure to AI and data-centre investments across portfolios. Cybersecurity: A new peer council for Bermuda’s senior technology and security leaders will launch at the November 5 Cybermuda conference, aiming to strengthen incident readiness and develop local talent. Tourism and Sport: Bermuda will host its first professional World Tennis Open tournaments this month, giving local players a chance to compete for ATP ranking points. Industry and government representatives also discussed linking ocean conservation with sustainable tourism growth.

Cybersecurity: Bermuda’s new Cybersecurity Executives of Bermuda council will bring senior technology and security leaders together to share threat intelligence, prepare for incidents and support local talent. It launches publicly at a November 5 conference. Jobs & Skills: Bermuda added 369 jobs in 2025, but Bermudians held 65 fewer positions; nearly 9.4% of jobs were held by people over 65. Bacardi has opened applications for its fifth free bartender-training cohort, while Endeavour’s maritime programme has graduated another group of young Bermudians. Financial Services: The Bermuda Monetary Authority is consulting on guidance for AI use by regulated firms, with comments due October 30. Separately, Bermuda’s ILS sector is investing in its talent pipeline, with Bermuda College students introduced to global industry leaders. Tourism & Ocean Economy: Government and tourism businesses discussed how marine protection can support ocean tourism and the wider blue economy. Offshore Energy: Bermuda-headquartered Seadrill secured a drillship contract in Indonesia worth about $420 million, with work expected to begin in 2027.

Financial Services: Bermuda’s regulator is consulting on guidance for AI use by financial firms, with comments due October 30. The move comes as a global accountancy survey finds AI use is a leading ethical concern. Energy: Bermuda-headquartered Seadrill secured a drillship contract in Indonesia worth about $420 million, with work expected to start in 2027. Ocean Economy: Government and tourism representatives discussed how the Blue Prosperity Plan could protect marine life while supporting ocean-based businesses and new visitor experiences. Insurance: ILS Bermuda Convergence highlighted the need to refresh catastrophe models and maintain strong hurricane observations. Students and career changers are also being prepared for roles in the island’s growing ILS market. Cybersecurity: Bermuda’s new Cybersecurity Executives council will launch at a November 5 conference, bringing industry leaders together to share threat intelligence and strengthen incident readiness. Digital Assets: Premier David Burt led a delegation to Washington for talks on digital-asset regulation and Bermuda’s financial-services sector.

Offshore Energy: Bermuda-headquartered Seadrill landed a drillship contract in Indonesia worth about $420 million for 880 days, with options to extend the work. The campaign is due to start in 2027. Insurance & Risk: At Bermuda’s ILS conference, catastrophe-modelling pioneer Karen Clark warned that models more than two or three years old may fail to reflect changing risks. Digital Finance: Premier David Burt is leading a Bermuda delegation in Washington for talks with US regulators and digital-asset firms, including discussions on digital assets in insurance and reinsurance. Tourism: At a regional industry conference, the Bermuda Tourism Authority reported higher visitor spending, strong hotel performance and visitor satisfaction above 90 out of 100, while pointing to scope to grow business year-round. Insurance Market: More than 750 global insurance leaders attended the BILTIR conference, while the Bermuda Stock Exchange maintained its leading position in insurance-linked securities listings. Construction: Work has started on a housing project in Sandys, adding to activity in Bermuda’s building sector.

Digital Finance: Premier David Burt is leading a Bermuda delegation to Washington for talks with US regulators and digital-asset firms, including discussions on using digital assets in insurance and reinsurance. Maritime Skills: The Spirit of Bermuda will restart student voyages after a two-year pause, with 12 trips planned this school year to build young people’s sailing and STEM skills. Reinsurance & Risk: At ILS Bermuda Convergence, catastrophe-modelling pioneer Karen Clark warned that models can fall behind in just two or three years; a separate discussion highlighted gaps in historic hurricane records. Tourism: The Bermuda Tourism Authority reported stronger visitor spending, hotel performance and investment at SOTIC. Bermuda also retained Condé Nast Traveler’s top regional-island ranking for a fourth year. Technology: Caribbean cloud provider Cloud Carib marked 15 years, with sovereign cloud infrastructure in Bermuda and services for regional governments and businesses. Maritime Safety: A UK investigation into a fatal lift accident aboard Bermuda-flagged P&O Arvia cited failures in planning, communication and control of the lift.

Tourism: Bermuda’s visitor economy is gaining momentum, with spending rising, hotels performing strongly and new investment creating scope to extend demand beyond peak season, the BTA told a Caribbean tourism conference. The island also retained its Condé Nast Traveller regional title for a fourth year, with a record score of 95.24. Digital Finance: Premier David Burt is in Washington for talks with US regulators and digital-asset firms on regulation and opportunities in Bermuda’s insurance and reinsurance markets. Maritime Safety: A UK investigation into a fatal lift accident aboard Bermuda-flagged P&O Arvia found failures in planning, communication and control of the lift before a crew member entered its shaft. Caribbean Tech: Cloud Carib marks 15 years, with nearly 100 staff and sovereign cloud services across the region, including Bermuda. Reinsurance: SageSure has invested in Bermuda-based Pillar Capital Management, which will remain independent and retain its local team and strategy. Construction: Work has begun on the first site in the Government’s affordable housing programme: 24 homes at Albert Row, Sandys, backed by $17 million in financing.

Digital Finance: Premier David Burt is in Washington for talks with US regulators and digital-asset firms, including discussions on using digital assets in Bermuda’s insurance and reinsurance markets. Technology: Caribbean cloud provider Cloud Carib marks 15 years, serving Bermuda and other regional markets with sovereign cloud and cybersecurity services. Maritime Safety: Investigators say an unsecured elevator and safety failures led to a crew member’s death aboard Bermuda-flagged P&O ship Arvia; Carnival UK has since added safety measures. Insurance and Reinsurance: SageSure has invested in Bermuda-based Pillar Capital Management, which will remain independent with more than $4 billion in assets under management. The BSX listed nearly $17.8 billion in catastrophe bonds and insurance-linked securities in the first nine months of 2026. Tourism: Bermuda retained its Condé Nast Traveler top-island ranking for a fourth year, with a record score of 95.24. Construction: Work has begun on the $17 million Albert Row affordable housing project in Sandys, the first site under the Government’s housing programme to enter construction.

Tourism: Bermuda was named the region’s top island for the fourth consecutive year in Condé Nast Traveler’s Readers’ Choice Awards, scoring 95.24. Insurance & Reinsurance: The Bermuda Stock Exchange listed 169 catastrophe bond and insurance-linked securities deals worth nearly $17.8 billion in the first nine months of 2026, maintaining its position as the market’s leading venue. SageSure has invested in Bermuda-based Pillar Capital Management, which will retain its team and independence. More than 750 delegates from 15 countries attended the recent BILTIR conference, where leaders discussed regulation, investment and the sector’s growth. Commercial Property: International business growth is lifting demand for premium office space and hotel rooms, including at the Luscar Place development. Construction: Work has begun on the $17 million Albert Row housing project in Sandys, with 24 homes planned as part of a wider 194-unit first phase.

Tourism: Bermuda topped Condé Nast Traveller’s regional island rankings for a fourth straight year, scoring a record 95.24 and reinforcing the island’s appeal to visitors. Housing and Construction: Work has begun on a $17 million Sandys development, the first phase of a government programme targeting 194 affordable homes across four sites. Insurance: SageSure has invested in Bermuda-based Pillar Capital Management, which oversees more than $4 billion in assets; Pillar will remain independent and keep its Bermuda workforce. Global Business: More than 750 delegates from 15 countries attended BILTIR’s life and annuity conference, where leaders discussed regulation, investment and the sector’s growth. Commercial Property: International business expansion is driving demand for top-tier office space and hotel rooms, according to a local realtor. Digital Services: Government is seeking a private-sector partner to design and operate a digital identity platform for residents’ access to public and private services.

Tourism: Bermuda’s leisure visits rose about 12% from January to August, while air visitor spending reached $204.6 million in the first half, up 7.9%. The BTA also reported hotel growth, but Fairmont Southampton is now expected to reopen in 2027. Property Investment: Mid Ocean Club shareholders approved a major golf course restoration and clubhouse renovation, clearing the way for the project to proceed. Insurance: Bermuda-based Bitcoin life insurer Meanwhile raised $37.5 million, bringing its funding above $180 million as it expands overseas. Industry Expertise: More than 750 executives and regulators from 15 countries attended BILTIR’s Bermuda life and annuity conference, focused on the global long-term insurance sector. Sustainability Services: Venetia Furbert launched Sustenance, a consultancy helping insurers and financial institutions integrate sustainability into strategy, risk management and innovation.

Hospitality Investment: Mid Ocean Club shareholders approved a major golf-course restoration and clubhouse renovation, clearing the way for the project to move ahead. Aviation: Recovery efforts continue off Nantucket for the Hamilton-based air ambulance lost en route from Bermuda to Boston. Six people, including two Bermudians, remain missing; investigators are seeking the aircraft’s black boxes. Insurance & Finance: Bermuda-based Bitcoin life insurer Meanwhile raised $37.5 million to expand internationally, bringing its total funding above $180 million. Separately, more than 750 industry leaders attended BILTIR’s Bermuda International Life & Annuity Conference. Tourism: Leisure visits rose about 12% from January to August, while air visitor spending reached $204.6 million in the first half, up 7.9% year over year. The Fairmont Southampton’s full opening has slipped to 2027. Business Services: Sustainability specialist Venetia Furbert launched Sustenance, a consultancy helping insurers and financial institutions build sustainability into strategy, risk management and innovation.

Aviation: Recovery efforts continue off Nantucket for the Hamilton-based air ambulance lost on a Bermuda-to-Boston flight. Six people, including two Bermudians, remain missing; investigators are searching for the aircraft’s flight recorders. Tourism: Leisure visits rose about 12% from January to August, while air-visitor spending reached $204.6 million in the first half, up 7.9%. The Bermuda Tourism Authority also confirmed the Fairmont Southampton is now expected to reopen in 2027. Insurance & Finance: Bermuda-based Bitcoin insurer Meanwhile raised $37.5 million to expand internationally. More than 750 people attended BILTIR’s life and annuity conference in Hamilton, underscoring the island’s role in the global long-term insurance market. Business Services: Venetia Furbert has launched Sustenance, a consultancy helping insurers and other financial institutions embed sustainability into strategy and operations. Cost of Living: Government and the Chamber of Commerce disagree over proposed price-transparency rules, with the Chamber warning the measures could burden private businesses. Shipping: This week’s schedule includes cruise, container and research vessels, including Norwegian Aqua, Oleander and Fugro Discovery.

Aviation: Recovery teams are searching off Nantucket for wreckage and the black boxes of an Ontario-based air ambulance that went missing en route from Bermuda to Boston. Six people, including two Bermudians, remain missing. Insurance: Bermuda-based Meanwhile raised $37.5 million to expand its Bitcoin-denominated life insurance business, taking total funding above $180 million. The company says it has signed 15 brokers serving wealthy clients in international markets. Tourism: Leisure visits rose about 12% from January to August, while air visitor spending reached $204.6 million in the first half, up 7.9% year over year. The BTA also reported the Fairmont Southampton is now expected to reopen in 2027. Financial Services: More than 750 people from 15 countries attended BILTIR’s life and annuity conference, with discussions spanning structured assets and AI. Sustainability: Venetia Furbert launched Sustenance, a consultancy helping reinsurers and other financial institutions embed sustainability into strategy, risk management and innovation.

Tourism: Bermuda’s leisure visits rose about 12% from January to August, while air visitor spending reached $204.6 million in the first half, up 7.9% year over year. The Bermuda Tourism Authority also reported strong hotel performance, but the Fairmont Southampton is now expected to reopen in 2027. Financial Services: Bermuda-based Bitcoin life insurer Meanwhile raised $37.5 million to expand internationally, with 15 intermediaries signed to serve high-net-worth clients. Aviation: BermudAir announced new nonstop routes linking Bermuda with Florida, Belize and Turks & Caicos, with introductory fares from $99. Cruise Tourism: Carnival’s new Norfolk sailings for 2028 and 2029 will include Bermuda, the Bahamas, the Eastern Caribbean and Canada. Insurance: More than 750 people from 15 countries attended BILTIR’s life and annuity conference in Hamilton, which added sessions on structured assets and AI. Business Services: Venetia Furbert launched Sustenance, a consultancy helping insurers and financial institutions build sustainability into strategy, risk and innovation. Cost of Living: Government and the Chamber of Commerce disagree over proposed price-transparency rules, with the Chamber warning the measures could burden businesses for limited consumer savings.

Tourism: Bermuda’s visitor economy is gaining ground: leisure visits rose about 12% from January to August, while air visitor spending reached $204.6 million in the first half, up 7.9% year over year. Sustainability Services: Venetia Furbert has launched Sustenance, a consultancy helping reinsurers and other financial institutions embed sustainability in strategy, risk and innovation. Insurance: More than 750 delegates from 15 countries attended BILTIR’s life and annuity conference, underscoring Bermuda’s role in the global long-term insurance market. Bermuda Business: Bermuda-based Bitcoin life insurer Meanwhile raised $37.5 million to expand internationally, following its 2024 regulatory licence. Air Links: BermudAir is adding nonstop Fort Lauderdale flights to Belize and Turks and Caicos, plus Orlando Sanford service to Bermuda, with introductory one-way fares from $99. Business Costs: Government and the Chamber of Commerce disagree over proposed cost-of-living measures, with the Chamber warning of limited consumer gains and added pressure on businesses.

Cost of Living: Government and the Chamber of Commerce are at odds over proposed price-transparency rules. The Chamber says consumer savings could be small while the burden on businesses is disproportionate; the Government argues better pricing data will support affordability measures. Tourism & Transport: BermudAir is adding nonstop flights from Fort Lauderdale to Belize and Turks & Caicos, plus a new Orlando Sanford–Bermuda service, with introductory fares from $99 one way. Development: Government has opened consultation on a new General Development Order intended to streamline small projects, including adding a residential unit to an existing building. Workforce: More than 40 people attended a career event connecting jobseekers with 11 employers, apprenticeships and sponsored training; nine Bermudians also completed a maritime careers programme. Insurance: Bermuda’s property insurance capacity has topped $2.8 billion ahead of 2027, with insurers competing through broader cover and lower retentions. Shipping: Bermuda-incorporated SFL expects about $275 million in net proceeds from selling seven tankers to Trafigura. Tourism: Hamilton Princess ranked No. 2 among Atlantic Islands resorts in Condé Nast Traveler’s 2026 readers’ awards.