AGP Executive Report
Last update: 5 hours agoEnergy policy dispute: BELCO warned that Electricity Amendment Act 2026 changes could invite “ministerial interference,” arguing the Integrated Resource Plan should stay independent and evidence-based to protect affordability and reliability. Grid works update: BELCO also shared details of the West End Transmission Upgrade Project, with trenching and temporary traffic controls starting June 17 between Whale Bay Road and Evans Bay. Insurance and capital markets: Sun Life said it plans to issue $750m in Canada Series 2026-1 subordinated debentures (expected close June 19) and Sun Life Global Investments published June ETF cash distributions. Ratings watch: Fitch assigned Bermuda-based financial guarantor Verdant Rock a BBB+ rating (stable outlook), while S&P downgraded Vantage Group Holdings after its acquisition. Reinsurance leadership: Ariel Re appointed Tim Shreeve as chief commercial officer. Local governance and regional ties: The OBA pressed for a referendum and clearer answers on Bermuda seeking full CARICOM membership. Markets: Allshores jumped 9% on BSX, while the Royal Gazette/BSX Index rose modestly. Business community: A Public Service Career Fair and Expo is set for Pier 6 (12pm–8pm).
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