AGP Executive Report

Air Ambulance Tragedy: The U.S. Coast Guard has identified all six people aboard the Gulfstream G100 medical flight that vanished off Nantucket while travelling from Bermuda to Boston—Bermudians Marilyn Lavonne Bean (66) and her son Sergio Wayne Lottimore (41), plus four Latitude Air Ambulance crew from Ontario. The Transportation Safety Board of Canada will lead the investigation, with search efforts suspended after a debris field was found. Local Sports: Bermuda’s “Gombey Warriors” let a lead slip again, falling 2-1 to Barbados in Nations League action in Bridgetown. Education: The Bermuda Union of Teachers marks World Teachers’ Day by calling for real consultation, reliable pay, manageable workloads, and safe workplaces—saying respect must show up in systems, not just words. Economy & Markets: Bermuda’s investment fund sector net assets rose to $342.37bn in Q2, while Allshores shares jumped 7.4% on the BSX. Public Safety: Police issued 131 traffic tickets over two enforcement periods, targeting speeding and handheld device use.

Aviation Tragedy: Bermuda police have identified mother Marilyn Lavonne Bean, 66, and her son Sergio Wayne Lottimore, 41, as the two Bermudians on the Heartbeat 104 medevac flight that vanished off Nantucket while travelling from Bermuda to Boston; after a 66-hour search, the U.S. Coast Guard suspended operations and Latitude Air Ambulance says all six aboard are presumed dead. Public Safety: Police appealed for witnesses after a Hamilton pedestrian crash left a 57-year-old Pembroke woman in intensive care; the driver was arrested on suspicion of impaired driving and driving while disqualified. Government Finance: Premier David Burt’s government projects a $169.6m surplus for 2025/26, citing stronger revenue and continued economic growth as he prepares to step down. Tourism & Industry: Greg Ramey was named new chief executive of the Bermuda Hotel Association, taking over from Stephen Todd. Financial Literacy: BMA and BSX rang the bell for World Investor Week, launching Bermuda’s investor education push. Local Life: North Field at the National Sports Centre closes for floodlight replacement and Rugby Classic prep, with dates and access limits for walkers and users.

Aviation Tragedy: The U.S. Coast Guard has suspended its search for six people missing after a medical transport jet left Bermuda for Boston and crashed near Nantucket, with debris confirmed from the Gulfstream G100; Rear Adm. Matthew Lake said the search-and-rescue phase is over after about 66 hours covering roughly 4,445 miles, and Latitude Air Ambulance says the patient, a family escort, and four crew are presumed dead. Bermuda Impact: Authorities report four Canadians were crew and two Bermudians were passengers, including a mother and son reportedly travelling for medical care after a stroke; next of kin have been notified. Ongoing Work: Attention now shifts to recovery and investigation, including efforts to scan the seabed and locate the black box. Local Updates: Bermuda rolled out new customs traveller declaration forms, including precious metals and stones over $10,000 for departures, and the Gombey Festival returned with hundreds gathering in the Botanical Gardens.

Bermuda–Boston Air Ambulance Search: The U.S. Coast Guard says debris linked to a Gulfstream G100 that vanished after leaving Bermuda for Boston has been found off Nantucket, with search crews still hunting for six people aboard—four Canadians and two Bermudian nationals. Authorities say the FAA lost contact early Saturday, and air traffic audio suggests the pilot may have been “coming in blind” amid reported electrical problems as a storm moved in; the Coast Guard is now working to use sonar to search the seabed in a “large and demanding” area. Local Economy & Investment Rules: In the House of Assembly, Economy and Labour Minister Jason Hayward said Bermuda’s Economic Investment and Residential Certificate programme has been tweaked so successful applicants must make a meaningful contribution beyond an initial investment, including a minimum $25,000 donation to registered charities and a strengthened risk questionnaire. Insurance Leadership Update: Zurich’s completed $10.8bn acquisition of Beazley sets Kristof Terryn to lead the combined specialty operation, with new senior appointments announced. Sports: Conor White won the Presidents Cup road race by more than five minutes, while Bermuda football saw Dandy Town beat North Village 3-1 and Somerset draw St George’s 1-1.

Aviation Emergency Off Nantucket: The U.S. Coast Guard says it has found a debris field tied to a Gulfstream G100 air ambulance that vanished after leaving Bermuda for Boston with six people aboard, including four Canadians and two Bermudians; search crews are continuing overnight as officials confirm next of kin have been notified. ATC Audio Raises Questions: Air traffic control recordings include a controller asking the pilot if they were “coming in blind,” with reports the aircraft declared an emergency amid electrical problems and a sharp descent shortly before contact was lost. Bermuda Response: Bermuda’s government says it has been in touch with families and is coordinating with overseas authorities as the search continues. Local Community Moment: Separately, Bermuda’s Gombey Festival Showcase is being streamed live from the Botanical Gardens, highlighting island culture while the wider news cycle focuses on the Atlantic search.

Aviation & Safety: The U.S. Coast Guard has launched a major air-and-sea search for a Gulfstream G100 medical transfer jet that vanished after leaving Bermuda for Boston with six people aboard. Bermuda–Boston Flight Details: The FAA reported losing contact early Saturday; the aircraft departed L.F. Wade International Airport around 12:41 a.m. and was expected to reach Boston Logan, with the search focused off Nantucket, Massachusetts. Onboard & Operator: The jet is Canadian-registered and operated by Hamilton-based Latitude Air Ambulance, which said the mission involved medical transport; authorities have not confirmed the cause or the status of those onboard. Search Response: Coast Guard crews and assets are deployed in the Nantucket area, with updates expected as the investigation continues. Local Sports: Former Bermuda captain David Hemp has been appointed head coach of Bangladesh’s women’s national cricket team on a two-year deal through September 2028.

Affordable Housing: The House of Assembly approved Bermuda’s Affordable Housing Strategy 2025-35 after a four-hour debate, targeting 950 to 1,350 new homes by 2035 and citing early progress on nine sites. Digital Government: The Government is exploring a digital identity framework, with consultation promised and a Request for Supplier Qualifications due Monday to map benefits, privacy and governance. Economy & Finance: Premier David Burt told MPs preliminary 2025/26 results point to a $169.6m budget surplus, with revenue projected at $1.57b and stronger tax collections. Public Services & Policy: The Education Authority Act 2026 was tabled, aiming to create a durable governance structure for public education. Customs Update: A new Customs Traveller Declaration (Form 98) takes effect from Oct 1, adding declaration rules for high-value precious metals and stones. Sports: Bermuda fell 4-1 to Barbados in the Nations League, leaving the team rooted at the bottom of group B. Business & Industry: AM Best affirmed Enact Re’s A- rating, while Talcott completed a $6.3bn reinsurance deal with Lincoln Financial. Weather: Wet, humid conditions are expected through the weekend, with rain and storms at times.

Education Reform: The Education Authority Bill is set to be tabled in the House today, with Minister Diallo Rabain saying the new authority must be “built to survive” political change and deliver stable, accountable governance for public schools. Local Governance & Housing: MPs will also debate land vesting for an affordable housing project at Morgan’s Point, paving the way for Dr Cann Park II with 110 rental units. Weather Watch: The National Hurricane Center is tracking a low-pressure trough from remnants of Tropical Storm Fay south-east of Bermuda; dry air and winds are expected to limit redevelopment, with a low 10% chance over the next two days. Sports & Community: John Barnes and Andrew Cole are in Bermuda for the DCYFS × Bermuda FA U13 Invitational, while Bermuda’s Nations League campaign continues tonight against Barbados, with Lejaun Simmons back from suspension and Nahki Wells playing down injury fears. Business: Everest Group says it has completed the sale of its Canadian retail insurance operations to Wawanesa, forming WSI to continue specialty lines. Health & Culture: The Archbishop of the Church of the Province of the West Indies, Philip Wright, is visiting for St Mary’s 400th anniversary celebrations.

Workforce Development: Bermuda College president David Sam cut the ribbon on the new headquarters of the Department of Workforce Development in Paget, saying it will “connect the classroom to the workplace” and strengthen career pathways. Seniors & Community: The inaugural Seniors Expo 2026 at Bermuda College drew older residents for information, networking and camaraderie under the theme “The Age of Longevity.” Insurance & Finance: Zurich has completed its $10.8bn Beazley takeover, while NorthRock Cyber-Risk and Compliance launched in Bermuda to help firms manage cyber and regulatory duties. Markets: Butterfield and Allshores both dipped on the BSX. Weather & Tropics: The National Hurricane Center is again monitoring the remnants of Tropical Storm Fay southeast of Bermuda; redevelopment chances are low and expected to end by Sunday. Road & Public Notices: Road closures are set for the PartnerRe Women’s 5K in Paget, and government/legal notices were published for Oct 1.

Insurance & Risk: Banyan Risk, the Bermudian MGA, has launched Red Fox Risk to underwrite wildfire-exposed commercial property and high-value homes in California and the western US, with capacity via Lloyd’s Argenta Syndicate 2121 and reinsurance partners. Political Violence Cover: Mosaic Insurance is expanding political violence underwriting in Europe through its Cologne HQ, offering up to €100m syndicated capacity for terror, sabotage, riots, civil commotion and related liability. Local Economy: Government is reconsidering whether Bermuda should “move away” from import duties, aiming to lower costs for small businesses in the insurance sector while also addressing the island’s housing shortage. PLP Leadership: A fresh focus on the Progressive Labour Party’s internal membership controversy is sharpening the race between Jason Hayward and Curtis Dickinson. Regulator Watch: The Bermuda Monetary Authority says it has grown staff and expertise, including 50 actuaries, to keep up with a more complex, data-driven market. Sports & Community: Clarence “Nicky” Saunders has been appointed Secretary General of the Bermuda Olympic Association, and Police Week returns with events honouring the BPS and its community ties.

Concacaf Nations League: Saint Lucia bounced back from its loss to Barbados by hammering Bermuda 5-2, with Keegan Caull scoring a first-half hat-trick as the Piton Boyz took control early. Local Sports: Bermuda’s football programme also saw Jumaane Davis elected to the Bermuda Football Association executive committee, while Bermuda’s youth and club football action continues across the weekend. Insurance & Finance: Hong Kong’s Insurance Authority ordered FWD Life Insurance (Bermuda) to pay a HK$19.5m penalty over anti-money laundering control shortcomings, including payor identification and customer due diligence. Bermuda Markets: Allshores’ board authorised a share buyback of up to $5m over the next 12 months, while American Overseas Group reported Q2 net income of $1.6m, down from $2.5m last year. Weather: Tropical Storm Hanna remains far east of Bermuda and is expected to weaken into a post-tropical remnant low tonight, with no coastal warnings in effect. Community & Culture: Bermuda Art Month returns Oct 1–31, kicking off with Art in Motion in Hamilton.

Fire Safety Awareness Week: Bermuda Fire and Rescue Service kicks off Oct. 5–9 with a “Charge into Fire Safety” push, urging residents to use the right chargers, charge on hard flat surfaces, and watch for warning signs on lithium-ion devices. Atlantic Weather: Tropical Storm Hanna is about 1,210 miles east of Bermuda, moving east-southeast at 5 mph and expected to weaken into a post-tropical remnant low by tonight, with no coastal watches in effect. Sports—Football: Bermuda coach John Barry Nusum says the Gombey Warriors must “bring the fight” after a 5-2 Nations League loss to St Lucia, with injuries and suspensions adding to the challenge. Sports—Swimming: Madelyn Moore set a new Bermuda national short-course 50m butterfly record (27.32) while balancing shifts with the Bermuda Police Service emergency response team. Culture & Community: National Museum of Bermuda and Atlantic World Connections host “Beyond the Thirteen” on Oct. 8–9, exploring the American Revolution’s impact on Bermuda and the wider Atlantic world. Business & Reinsurance: ABIR marks ten years of Solvency II equivalence with a new report on Bermuda’s role in European commercial reinsurance.

Corporate Takeover Probe: A South African analysis says Peresec and the JSE’s CEO-led circle allegedly used “unlawful” tactics to grab control of companies cheaply, avoiding costly buyout duties by not declaring related “concert parties” after crossing the 35% threshold. Bermuda Politics: The PLP says Curtis Dickinson “unwilling to engage” and argues court action is being used for a political result, while Dickinson’s legal challenge over membership changes continues to escalate. Childcare Standards: Bermuda’s Health Ministry launches a six-week public consultation from Oct 1 to update childcare standards, focusing on safety, safeguarding, curriculum and support for providers. Government Buildings: Work has started to assess Sessions House ahead of a multi-year restoration, with furniture removed and plans considering the chamber and clock tower. Health & Safety: Flu Express clinics run in October (Hamilton, St George’s Cricket Club, Boaz Island) and police are investigating a Hamilton incident leaving one teen injured and another arrested. Business & Finance: Sun Life sets up Sun Life Bermuda Limited for participating life insurance; Allshores reports higher operating earnings (+15.7%) and declares an interim dividend. Weather: Tropical Storm Hanna is far from Bermuda, moving southeast and expected to weaken with no coastal warnings in effect.

Insurance & Wealth: Sun Life launched Sun Life Bermuda Ltd, a new Bermuda Monetary Authority-licensed subsidiary to expand into participating whole life for high-net-worth clients, building on 30 years of its Bermuda branch. Workforce Development: The Department of Workforce Development expanded free work readiness classes with new topics like money management, emotional intelligence, resilience, and career pathways, plus tailored Navigating Bermuda Job Connect sessions. Local Governance & Accountability: Auditor-General Heather Thomas flagged $481.56m in uncollected government receivables as of March 31, 2025, urging departments to move beyond reporting. Public Services: The AG told the Senate Westgate Correctional Facility’s water issue is “under control” after repairs restored supply. Sports: Saint Lucia beat Bermuda 5-2 in Concacaf Nations League, while Bermuda will host Syria in Davis Cup play-offs in February 2027. Weather: Tropical Storm Hanna and Fay continue across the central Atlantic with no immediate threat to land. Health: Bermuda Healthcare Services unveiled a new AI-enhanced MRI machine expected to be in use within days.

Tropical Weather: Tropical Storm Hanna has formed in the Atlantic, sitting about 870 miles east-northeast of Bermuda with 45 mph winds and no coastal watches or warnings—forecasters say it’s moving east and won’t threaten land as wind shear keeps it weak. Correctional System: Attorney-General Kim Wilkerson told the Senate that more than a third of detention reform recommendations are now in place, while also saying a Westgate water disruption is “under control” after repairs restored supply. Public Accountability: The Auditor-General says ministerial travel and hospitality expense claims need better training and controls, citing missing receipts and poor record-keeping. Business & Markets: Bermuda Aviation Services (BAS) launched a tender offer to buy back up to $2m in shares, potentially reducing its share count by about 18%. Sports: Bermuda’s Davis Cup World Group II play-off draw gives the island home advantage against Syria in February 2027. Youth & Community: Team Bermuda named four athletes for the 2026 Youth Olympics in Dakar, and Age Concern Bermuda is calling for volunteers for Tag Days Oct 1–3.

Tropical Weather: Tropical Storm Hanna has formed in the Atlantic about 870 miles east-northeast of Bermuda, with 45 mph winds and no land threat expected as it moves east; forecasters say wind shear and dry air should limit strengthening. Public Safety & Environment: Bermuda spent nearly $67,000 after a rattlesnake sighting, including dog-led searches and a fire ant response, but officials say no snake evidence was found. Insurance & Finance: Fortitude Re’s parent has acquired insurtech Dayforward to strengthen its annuity and policy-life-cycle capabilities, with Dayforward’s team operating under a new Fortitude Life subsidiary. Education: Athene awarded full scholarships to five Bermuda College students for 2026-27, covering associate degrees and essential costs. Local Development: Plans were submitted for a new Marginal Wharf warehouse, retail store and office facilities, proposing a 3-storey, ~173,000 sq ft building. Sports: Bermuda won the North American Cup, beating Cayman by 42 runs, while Bermuda’s sailors reflected on their Newport regatta campaign and local karting kicked off its 2026-27 season.