AGP Executive Report

Community Golf: The Gate Golf Club, a new public community venue near Collier Boulevard, is set to open in December with a nine-hole course, putting range, dining and youth programme First Tee - Naples/Collier. Captive Insurance: Bermuda’s captive sector is looking at stablecoins as BMA allows recognised stablecoins up to 25% of capital and surplus, while speakers urged a balance of innovation and strong regulation at the Bermuda Captive Conference. Industry Moves: Convex launched its UK-based Kinetic Insurance Services MGA (FCA-approved, trading Q4 2026), and Mereo has begun underwriting excess casualty energy policies acquired from Everen via Cedar Trace. Public Safety: Police arrested a third teenager over the May 24 Southampton Rangers Club shooting, and a serious collision on Rosemont Avenue in Pembroke sent a motorcyclist to hospital with serious injuries. Aviation & Tourism: BermudAir expands winter routes, adding Turks & Caicos, Belize and Guatemala City from multiple US hubs, plus new service to Grand Cayman via Turks & Caicos. Honours: Thomas McMahon was named the 2026 Fred Reiss Lifetime Achievement Award recipient at the Bermuda Captive Conference.

Caricom Membership: Bermuda has wrapped up its public consultation on moving from associate to full Caricom membership, with Home Affairs Minister Alexa Lightbourne saying the next step is reviewing feedback and setting an official position later this year. Education Reform: The Ministry of Education says it is taking teachers’ concerns seriously after the Bermuda Union of Teachers criticised slow progress, workload and classroom behaviour amid reform efforts. Health System: King Edward VII Memorial Hospital boarding times improved in May, with the median wait for a decision to admit and then boarding cited as part of ongoing work to ease emergency department overcrowding. Public Works: The Opposition says roadworks on Southampton’s Church Road are starting with too little notice and without resident-requested safety and traffic improvements. Business & Finance: Butterfield shares rose on the BSX as the bank pushes ahead with its landmark plan to acquire CIBC Caribbean. Sports: Bermuda Smash Invitational was washed out by heavy rain, while national team call-ups and overseas league retention updates keep local football in focus. Community: Bermuda Is Love launched a scholarship offering $5,000 to two students, and Endeavour continues free inclusive sailing programmes for young people.

Healthcare Update: King Edward VII Memorial Hospital says emergency department flow is improving, with admitted patients waiting a median of about five hours for a decision to admit and a further median of about 20 hours boarding in May—down from earlier 2026 figures, as the Ministry of Health and Bermuda Hospitals Board push a six-hour boarding target. Local Governance: A One Bermuda Alliance shadow minister says Church Road roadworks in Southampton are starting with just one day’s notice and don’t include resident-requested traffic and safety improvements, with single-lane closures expected until June 19. Business & Markets: Butterfield shares rose 1.8% on the Bermuda Stock Exchange, closing at $56, while the Royal Gazette/BSX Index climbed 57.57 points. Tourism & Regional Links: Tourism minister Owen Darrell highlighted Bermuda at Caribbean Week in New York, outlining efforts to strengthen visitor experiences and investment. Immigration Service Change: The Department of Immigration will now respond to emailed queries within two business days, with dedicated inboxes for work permits, BOTC passports, and status/Permanent Resident’s Certificate applications. Community & Arts: Kaleidoscope Arts Foundation and the Harvey Cooper Award team up for a June 20 workshop and family celebration for students interpreting “What Does This Song Mean to Me?”

Bermuda Business & Finance: Beazley is relocating Stefan Wunderlich to Bermuda as Head of Alternative Risk Transfer, and says its Ninety-One office at 91 Front Street will open in June 2027. Local Health: The Ministry of Health and Sexual and Reproductive Health Clinic launched HIV Awareness Month, with free and confidential HIV testing available throughout June. Insurance & Capital Markets: Mangrove Property Insurance Company says its inaugural catastrophe bond, Buttonwood Re Ltd. 2026-1, secured $111m of fully collateralised reinsurance protection. Sports & Community: Bermuda Rugby will hold a Golf Day fundraiser at Turtle Hill on June 27, while Bermuda National Trust installed a solar pergola at Waterville to cut carbon. Public Notices: Church Road in Southampton gets rolling single-lane closures from June 2 to June 19, and the Department of Sport and Recreation has moved to 20 Victoria Street, Hamilton. Regional Security: Bermuda hosted the 48th Annual Caribbean Customs Law Enforcement Council conference at the Hamilton Princess.

World Cup pitch rules: FIFA says all 2026 World Cup matches must be on natural grass, forcing venues like MetLife Stadium to rip out artificial turf and lay Bermuda Tahoma 31 rolls instead. Health & community: Allshores’ exclusive pharmacy deal with Phoenix Pharmacies has kicked in after a 60-day delay, aiming to cut costs on a small list of very expensive drugs; meanwhile free HIV testing is available across June as Mental Health Anti-Stigma Month winds down, with the Health Minister pointing to $2.29m earmarked for counselling and therapy. Insurance & risk: Beazley is relocating Stefan Wunderlich to Bermuda to lead alternative risk transfer as it prepares its Ninety-One office; Mangrove Property Insurance has launched its first catastrophe bond, Buttonwood Re 2026-1, securing $111m of fully collateralised reinsurance protection. Local sport & events: Emma Harvey set a national 50m butterfly record in Europe, and Bermuda’s senior men’s team has been named for a US camp ahead of a June 6 match vs Cape Verde. Public safety: A second teenager has been arrested over the May 24 Southampton Rangers Sports Club shooting. Business & politics: The Premier defended Bermuda’s sugar tax in the House, and the Opposition says it was denied labour data on Caricom emigration. Sailing: The Annapolis to Bermuda Ocean Race sets sail June 5.

Bermuda Cricket: Pembroke Panthers stayed unbeaten in the Bermuda Smash Invitational, beating Smith’s Sixers by seven wickets on opening day, with Gerhard Erasmus blasting 98 in the chase. Bermuda Smash Invitational: In the other match, Hamilton Parish Hurricanes edged Sandys Spartans by five wickets as Quentin Sampson struck 76 and the Spartans fell short despite Kamau Leverock’s 57. Local Sport: Fabian Allen produced career-best figures of five for two to help Pembroke Panthers beat champions Hamilton Parish Hurricanes by 54 runs, while the Panthers also moved to replace injured overseas player Jamal Richards to keep the competition fair. Community & Culture: Titan Express will run “The Black Our Story” tour on Sunday, June 7, marking National Heroes’ Day with a bus tour through Northeast Hamilton. Food Security & Environment: The Government unveiled “Grow Local” in the House to boost domestic farming, and the UK’s Darwin Plus grants are now open for Bermuda environmental projects. Weather: Monday starts sunny then turns cloudy, with a high near 23°C and a Small Craft Warning in effect.

Public Finance & Pensions: The House of Assembly approved amendments to past budgets and a “clarification” of the Public Service Superannuation Act, with Premier David Burt saying the changes are technical and meant to match the original intent of last year’s reforms, including a 10% pension increase for retirees (effective April 1, paid in October). Local Food Security: Minister Diallo Rabain unveiled the “Grow Local” initiative in Parliament, aiming to close the gap between Bermuda’s designated agricultural land and what’s actually being farmed, using an online platform to connect people with land to farm. Environment Funding: Government House says applications are open for UK Darwin Plus grants for biodiversity and climate resilience projects across Overseas Territories, including local schemes for organisations and individuals. Community Gardening: The Health Ministry marked the 10th year of the Eat Grow Save gardening programme, celebrating participants and noting new support to establish a teaching garden. Tourism Spotlight: The Bermuda Tourism Authority launched “9 People, 9 Parishes,” with a new video series highlighting each parish through local stories. Sports: Bermuda rugby faced a tough 69-12 loss to Atlantic Privateers, while cricket’s Bermuda Smash Invitational opened with wins for Pembroke Panthers and Hamilton Parish Hurricanes. Honours: An Honours & Awards Ceremony at Government House recognised long service and service awards across the police and fire & rescue services. Bermuda Triangle: A Channel 5 documentary revisits the Bermuda Triangle mystery, pointing to an underwater volcano and magnetite-rich rocks that could disrupt compasses.

Business & Finance: Butterfield has agreed to acquire CIBC Caribbean in a US$1.79b deal, buying CIBC’s 91.7% stake and planning a mandatory offer for remaining shares, with closing targeted for the first half of 2027. Housing: Minister Zane DeSilva says $114.75m will fund 229 residential units, with ground-breaking expected in August and an 18-month build push. Public Safety: Four new airport fire and rescue crash vehicles have been commissioned for LF Wade International Airport, replacing ageing equipment. Government & Policy: The House heard updates on a comprehensive Disability Act and on mental health anti-stigma efforts, while Darwin Plus environmental grants are now open for UK Overseas Territories. Local Life & Community: Bermuda Tourism’s “9 People 9 Parishes” campaign spotlights Bermudians in parish-by-parish videos, and Carter House’s Onion Day returns with the restored Settler’s Cabben and an onion-eating contest. Sports: Bermuda rugby closes its international season today against Atlantic Privateers, while Tariq Simons targets a strong return at the Deloitte Open and PHC’s Taylor Tankard is making waves in senior cricket at 13. Environment & Science: A Bermuda-named fish, the Atlantic pearlfish, is highlighted for living inside sea cucumbers.

SailGP Spotlight: The Rolex SailGP Championship is in New York this weekend, with Bermuda’s sailing fans set for a fast, unforgiving Hudson course where turbulent winds could shake up the standings. Tourism & Community: The Bermuda Tourism Authority launched its “9 People 9 Parishes” campaign, putting Bermudians in the spotlight with short videos celebrating local food, culture and parish pride. Public Safety: Police say they’re stepping up presence after three confirmed firearms incidents, warning residents to expect more stop-and-search and traffic calming. Housing Push: Minister Zane DeSilva says 229 homes are planned to break ground in August, with about $114.75m targeted over roughly 18 months. Finance & Business: Bermuda was cited in a New York Times report on how multinationals use island-based subsidiaries to cut taxes, while Butterfield’s CIBC Caribbean acquisition deal continues to reshape regional banking. Digital Finance: Premier David Burt outlined legislation to let Bermuda accept stablecoin payments and manage certain public assets on-chain.

Housing Delivery: Minister Zane DeSilva says the next phase of Bermuda’s Affordable Housing Programme will add 229 residential units, with over $110m to be spent and construction aimed to start in August, targeting an 18-month timeline. Public Safety: Police Commissioner Darrin Simons says the Bermuda Police Service is stepping up presence after three confirmed firearms incidents, warning residents to expect more stop-and-search and traffic calming disruptions. Caricom Membership Costing: Alexa Lightbourne tells MPs Bermuda’s likely annual Caricom contribution would be about $278,790, not the $2.28m figure being discussed, as the Green Paper consultation closes May 31. Digital Finance Push: Premier David Burt says Cabinet has approved legislation to let Bermuda accept stablecoin payments and manage certain public financial assets in digital form. Caribbean Banking Deal: Butterfield has agreed to buy CIBC’s 91.7% stake in CIBC Caribbean Bank in a US$1.794bn deal, creating a regional banking and wealth-management platform with about US$29bn in assets. BMA Leadership: The Bermuda Monetary Authority announces senior appointments: Mesheiah Keane as COO and Keane as CTO? (BMA names two executives to drive tech transformation). Sports & Business: Black Foils confirm their return to SailGP in Halifax after the Auckland crash, while PadsPass CEO Lauren Anders Brown will speak at Caribbean Week in New York on pet-friendly travel compliance.

Banking Deal: Butterfield Bank has agreed to buy CIBC Caribbean’s 91.7% stake in a landmark US$1.8bn transaction, paying about US$1.09bn in cash and US$703m in Butterfield shares, with the deal expected to close in the first half of 2027 and create a combined platform of roughly US$29bn in assets. Legal/Advisory: Carey Olsen Bermuda acted as joint lead counsel on the acquisition, coordinating across 19 jurisdictions with Sullivan & Cromwell and Lex Caribbean. Public Consultation: Bermuda’s bid for full CARICOM membership is nearing its deadline, with the Green Paper “The Story of Us” consultation set to close Sunday, May 31. Cost of Living: The Essential Commodities Regulations have been expanded to add more everyday items for duty relief, including a wider range of fresh produce, pantry staples, infant nutrition items and household hygiene products. Infrastructure/Connectivity: Google’s Nuvem subsea cable system is set to link Portugal, the Azores, Bermuda and the US, with a Bermuda landing station under development. Weather: Friday is forecast to start wet and gloomy, then brighten later, with a high near 25°C and a Small Craft Warning in effect through Friday morning.

Banking Deal: Butterfield has signed an agreement to buy CIBC’s 91.7% stake in CIBC Caribbean Bank for about US$1.8 billion, creating a combined banking and wealth platform with roughly US$29 billion in assets; the deal is expected to close in the first half of 2027, subject to approvals. Legal/Advisory: Carey Olsen Bermuda acted as joint lead counsel on the transaction, highlighting the scale of cross-jurisdiction work. Telecom/Connectivity: Google’s Nuvem subsea cable has landed at Myrtle Beach, with the system set to link Portugal, the Azores, Bermuda and the United States, including a Bermuda landing station being developed by Google. Sports—Sailing: Bermuda’s Alec Cutler and Hedgehog lead the J/70 Corinthian World Championship after strong day-three racing in Mediterranean conditions. Sports—Football: PHC Zebras and Dandy Town Hornets played to a 1-1 draw in the BFA Under-23 league. Community/Religion: Nonprofit Alliance of Bermuda will screen Uncharitable on June 4, while RHMI’s 10th annual 24-hour community prayer room runs June 6. Public Safety: Police say knife possession arrests during the Bermuda Day holiday weekend add to a “serious and growing concern,” with 35 bladed-weapon arrests so far in 2026.

Crime Update: A man was injured in a shooting outside a residence in Cedar Park, Prospect, after police received reports of gunshots just after 10:30pm on May 27; he was taken to King Edward VII Memorial Hospital and police are urging anyone with CCTV or Ring footage to contact detectives or Crime Stoppers. Local Business: The Bermuda Stock Exchange saw 4,500 shares trade worth $107,100, with Allshores up 11.7% to close at $23.80. Finance & Governance: Aegon announced an agreement with its largest shareholder Vereniging Aegon and proposed US-aligned governance changes tied to a planned relocation to Delaware. Corporate Moves: Brookfield received board approval to simplify its structure under a single publicly traded company, Brookfield Corporation. Housing Pipeline: Planning applications were submitted for 48 new homes—24 units in Sandys and 24 in St George’s—under the Ministry of Housing and Municipalities. Sports & Culture: Bermudian cricketer Brianna Ray says she’s aiming to be the first woman to play Cup Match, while a new Bermuda Day identity debate continues in a fresh opinion column. Weather: Thursday is forecast sunny with showers developing later, plus a Small Craft Warning.

Bermuda Youth Recognition: The Ministry of Youth, Social Development and Seniors has extended nominations for Youth Trailblazers Out Front–2026 to June 5, inviting Bermuda’s 2026 graduating students to be recognised across categories including Academic Achievement, Leadership and Service, Community Impact, Sports, Arts and Culture, and STEM. Cricket: Bermuda umpire Precious Smith has been named to the ICC Development Panel ‘A’ Umpires list for 2026-27, a first for a Bermudian woman, with Bermuda set to host the T20 World Cup Americas Sub-Regional Qualifier next month. Education Pathways: Bermuda College and Mount Saint Vincent University have agreed a five-year articulation route for a Bachelor of Tourism and Hospitality Management, letting eligible students transfer up to 25 courses while staying in Bermuda. Weather: Thursday is expected to be sunny with showers developing later, highs near 27°C and a Small Craft Warning in effect. Sports Spotlight: David Morris set a new school and regional record in the boys 400m hurdles at the NYAIS Championships.

Insurance & Tax Credits: Allshores says it booked a $20.8m estimated gain from Bermuda’s substance-based tax credit, cutting 2025 operating expenses by 13.8%—even as its shares slid 11.3% on the BSX. Crime & Courts: A federal jury in Ohio convicted three people tied to an international email hacking scam that netted about $215m from 1,000+ victims, bringing the total to 25 convictions in the case. Public Safety: Wardens were called after two German shepherds allegedly killed two small dogs and attacked a woman and her dog on the Railway Trail near Penhurst Park. Justice & Rights: Opposition leader Robert King says Bermuda’s prison conditions should be treated as a national crisis, warning substandard living conditions could amount to human-rights violations. Sport & Community: Precious Smith was named to the ICC Development Panel for 2026-27, while a new sailing charity aims to break the financial barriers keeping local kids out of the sport. Business Watch: Safepoint is seeking up to $283.3m in a US IPO.

Crisis Insurance Push: SiriusPoint has launched a new “Crisis Solutions” line in London, appointing Paul Beattie and Ed Winter to lead war, political violence and terrorism coverage through Lloyd’s Syndicate 1945. Boardroom Moves: Palomar Holdings named Scott Beiser to its board, adding a veteran investment banking leader with decades of public-company experience. Tourism Leadership: Bermuda Tourism Authority has appointed Jan Hutton as CEO from July 1, aiming to match marketing and commercial plans to new hotel capacity and airlift growth. Crypto Ambitions: Plume’s Kimber Labs unit secured a Class M Digital Asset Business Licence, positioning it as a regulated onchain vault manager under BMA oversight. Local Care Capacity: The Bermuda Health Council is collecting property details to build a database of potential sites for residential care homes and nursing homes. Education Watch: Government has advertised the Commissioner of Education role, currently held by Kalmar Richards, while the teachers’ union continues to warn about ministerial intervention in discipline. Public Safety: Police flagged “serious growing concern” after a Bermuda Day weekend marked by knife arrests and gunshot incidents.