The AGS Bermuda team has been extremely busy, with over 100 structures on-boarded within the first 12 months. Structures include publicly listed industrial conglomerates and global commercial re/insurers in both P&C and life, in addition to captives and insurance-linked securities (ILS). One ILS example is a Singapore provider listing on the Bermuda Stock Exchange (BSX), which was reported in July 2019 just three months after AGS became a listing sponsor. AGS continues to support the BSX by sponsoring issuers.
AGS which was launched in January 2019 has offices in seven jurisdictions: Bermuda, the Cayman Islands, Hong Kong, Isle of Man, Jersey, Mauritius and most recently Seychelles. In Bermuda, services include: Incorporation, Registered Office, Company Secretarial, Board Support, Statutory Records Maintenance, Director Services, Trust Services and BSX Listing Services.
AGS Bermuda is led by Tim Faries and Tonesan Amissah. Tim Faries serves as both Chairman for AGS Bermuda and Managing Partner for Appleby's Bermuda office. Tonesan Amissah is Managing Director for AGS Bermuda and a former partner at Appleby.
Tim Faries said, "As regulation and compliance requirements continue to increase at a rapid pace, clients are seeking integrated legal, fiduciary and administration services. Appleby's legal expertise and knowledge of the local regulatory environments enable us to advise on all legal and regulatory developments. Appleby works closely with the AGS team of specialist administration professionals to implement customised solutions and provide clients with an efficient integrated service offering."
Tonesan Amissah added, "We are very pleased with the growth of our business in the first year and expect client demand to continue, especially in the insurance sector. We have built a technically strong and client-centric team and look forward to hiring more Bermudians in 2020 as our business expands further."