Page 20

Bermuda Reinsurance Leaders 2016

of the buyers of risk products evolve. Buyers are looking for predictability, stability and cost-effective alternatives and this market has the talent and experience to deliver that. What will be the main areas of growth for the Island’s risk transfer market? Solvency II status is important. As other major insurance hubs are facing economic and regulatory challenges, Bermuda is well positioned to capitalise. Growth will come from both insurance and reinsurance where Bermuda can provide expertise and value, such as the recent growth in non-cat property. OCIL is one re/ insurer that is actively growing in this area. This market is also well positioned to deliver more value via analytics and data, which are transforming the industry. What are the main challenges you see ahead? Challenges ahead for Bermuda as well as the industry as a whole are the soft market environment driven by an oversupply of capacity and the potentially weak investment returns. Are there any other leaders you particularly admire for what they have done to help propel Bermuda to prominence as a risk transfer hub? I am still relatively new here but some of the early innovators such as Fred Reiss and Robert Clements have had a great role in putting Bermuda on the map as a premium hub for insurance, reinsurance and captives. BERMUDA’S REINSURANCE LEADERS Bertil Olsson joined the OIL Group of Companies on October 1, 2015 as president & chief executive officer. He is responsible for leading the two operating companies: Oil Insurance Limited and Oil Casualty Insurance Limited, along with their respective investment company subsidiaries. Olsson is supported by a senior management team of 10 along with approximately 40 support staff. He joined the OIL Group from Marsh USA, where he most recently held the position of managing director, head of South Central Region. He started his career with Marsh, left and went to Willis for 12 years and then returned to Marsh where he was employed in various senior management roles for seven years. Olsson has more than 30 years of leadership experience in corporate risk finance, global risk management and insurance with an emphasis on the oil and gas industry. He holds a Faculty of Law degree from the University of Lund, Sweden and is a graduate of the Royal Swedish Naval Academy, where he was a commissioned officer (Lieutenant). Do you believe Bermuda will remain a risk transfer hub? What has made it so successful in this sphere? Bermuda will remain one of the most prominent re/ insurance hubs. Innovation and a stable and predictable regulatory environment have created the success historically and will continue to drive success in the future. How do you anticipate Bermuda will continue to adapt and evolve? The Bermuda market will continue to adapt as the needs “This market is also well positioned to deliver more value via analytics and data, which are transforming the industry.” Bertil Olsson Job title: President & chief executive officer Company: Oil Casualty Insurance Limited Timeline: 2015: President & chief executive officer, the OIL Group of Companies 20 2016 Bermuda:Re/insurance+ILS


Bermuda Reinsurance Leaders 2016
To see the actual publication please follow the link above