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Bermuda Reinsurance Leaders 2016

BERMUDA’S REINSURANCE LEADERS Bermuda:Re+ILS is published by Newton Media Ltd. Kingfisher House, 21-23 Elmfield Road, BR1 1LT United Kingdom Email: info@newtonmedia.co.uk Director: Nicholas Lipinski Publisher: Martin Sellar Telephone: +44 203 301 8207 Email: msellar@newtonmedia.co.uk Managing editor: Wyn Jenkins Telephone: +44 203 301 8214 Email: wjenkins@newtonmedia.co.uk Deputy editor: Marc Jones Telephone: +44 203 301 8218 Email: mjones@newtonmedia.co.uk Journalist: Liana Jacob Telephone: +44 203 301 8209 Email: ljacob@newtonmedia.co.uk Head of research: Angharad Davies Telephone: +44 203 301 8228 Email: adavies@newtonmedia.co.uk Sub-editor: Ros Bromwich Marketing manager: James Lynn Email: jlynn@newtonmedia.co.uk Subscriptions manager: Adrian Tapping Email: atapping@newtonmedia.co.uk Advertising enquiries: +44 203 301 8207 Editorial enquiries: +44 203 301 8214 Production and design: Fisherman Creative ©Newton Media Limited 2016. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electrical, mechanical, photocopying, recording or otherwise without the prior written permission of the publisher. The views expressed in Bermuda:Re/ insurance+ILS are not necessarily those shared by the publisher, Newton Media Limited. Wishing to reflect the true nature of the industry, the editor has included articles from a number of sources, and the views expressed are those of the individual contributors. No responsibility or liability is accepted by Newton Media Limited for any loss to any person, legal or physical, as a result of any statement, fact or figure contained in Bermuda:Re/insurance+ILS. This publication is not a substitute for advice on a specific transaction. The publication of advertisements does not represent endorsement by the publisher. Bermuda:Re/insurance+ILS— ISSN 2056-4627 Celebrating leadership Leadership is one of those qualities that is very hard to define, as it can take many forms. For some it’s the strength of will to lead a company through financial hardship. For others it’s the steadiness and clear-sighted vision to avoid any such problems in the first place. And for some it’s that quiet strength and determination to keep a company on an even keel. Perhaps leadership can be defined as all those things, in some measure. Leaders can be quiet or loud, visionary or stolid. They can lead companies, or on a smaller level just lead teams. They come in all shapes and sizes. It would be fair to say that the business leaders of Bermuda are insightful, and varied, as befits an Island that takes on business from all over the world and also pulls in people from across the globe. In this edition of Bermuda Leaders we profile 24 individuals who are running reinsurance enterprises and taking up the mantle of shaping the Island so it is fit for the next decade of opportunities and challenges. And challenges do lie ahead. The need to keep leaders on Bermuda is of paramount importance. There’s not much point in attracting them to the Island if they don’t stay long enough to lead—or to inspire others to lead. That’s a key issue: these are people who inspire not just loyalty but also ambition, the drive to one day succeed such leaders. Every company in every sector needs them, to ensure progress and evolution. Many of those we interviewed understand this. John Berger, chairman and chief executive officer of Third Point Re points out that the major challenge will be for Bermuda to continue to grow its qualified labour pool. “We need to attract young and talented people to our business,” Berger told us. “The existing labour pool is very good but as new opportunities come up we will need to expand it.” Mark Watson, the CEO of Argo Group concurs. “For the Bermuda market specifically, the challenge will continue to be the ability to attract the talent required to execute in this evolving marketplace. “More generally, it used to be important for companies to reinvent themselves every few years. Now it’s daily. Future leaders will have to adapt constantly to meet the endlessly changing expectations of their customers and capital providers. “In order to do this, they will need smart systems to sift through mountains of data in pursuit of insights required to make decisions. In the old days, there often wasn’t enough information. Now, there is too much. Those who can manage information and move quickly will win.” Watson has a very important point. An important thread of leadership in the modern world is the ability to spot trends and identify that moment in time when it’s time to embrace new technology and run with it. As 2017 approaches it’s worth further stressing this point. Ten years ago who could have known where technology was taking the re/insurance industry? We are now looking at the impact being made by drones, as well as the projected arrival of driverless cars, concepts that would have seemed ridiculous just a few years ago. But here they are. What will the leaders of the future face? Marc Jones, deputy editor If you have a candidate you’d like to propose for consideration in our 2017 update, please contact Angharad Davies, head of research at: adavies@newtonmedia.co.uk 3 2016 Bermuda:Re/insurance+ILS


Bermuda Reinsurance Leaders 2016
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