AGP Executive Report
Last update: 1 hours agoHousing Construction: Work has started on Southampton’s Dr Cann Park II seniors’ project, backed by a $50 million Bermuda Commercial Bank financing commitment. Preconco will manufacture the homes in Barbados, with the company touting faster construction and hurricane resilience. A separate disclosure shows the Government’s housing committee visited only two of nine firms considered before no-bid contracts went to Preconco and Coastal Precast. Insurance Market: Chubb chief Evan Greenberg warned that a surge of alternative capital is adding “naive capacity” and putting pressure on pricing; Bermuda accounts for about 92% of global insurance-linked securities alternative capital. Risk Innovation: Bermuda-linked Arbol launched cover for data-centre developers facing government moratoriums that halt construction. Financial Services: AM Best affirmed stable “A” and “a+” ratings for Bermuda-domiciled captive Stellar Insurance, while Clarien Bank appointed Bermudian Duncan Card to its board, subject to Bermuda Monetary Authority approval. Business Resilience: One Communications will host a free data-protection seminar on October 29, focusing on cybersecurity and companies’ responsibilities.
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