Bahamas premier concedes party's defeat at polls NASSAU (Reuters) - Bahamas Prime Minister Hubert Ingraham conceded the ruling Free National Movement Party's defeat in national elections on Monday, handing victory to the Progressive Liberal Party headed by former Premier Perry Christie. "The Progressive Liberal Party has won the election," Ingraham told supporters at his party's headquarters. "I do not propose to lead the party in opposition," added Ingraham, who had been hoping to win a fourth term in office in the former British colony. "I shall resign as leader of the party," he said. Reporting By Neill Hartnell, Editing by Tom Brown and Jackie Frank