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Bermuda Reinsurance Leaders 2016

BERMUDA’S REINSURANCE LEADERS “It is my hope that the political environment in which we live and work will continue to recognise the contribution w Rob Wyatt e make to the Island.” Job title: Chief executive officer Company: MS Amlin AG Bermuda Branch Timeline: 2012: Chief executive officer, Amlin Bermuda 2008: Underwriting director (chief underwriting officer), Amlin Bermuda 2001: Leading class underwriter, direct and facultative property, Amlin 1992: Assistant underwriter, Harvey Bowring & Others Syndicate 362 1989: Hardy Organisation 1982: North American treaty broker, Guy Carpenter from traditional risk transfer mechanisms. We have a great concentration of expertise here on the Island that together could contribute to closing the protection gap. What will be the main areas of growth for the Island’s risk transfer market? As margins continue to tighten I expect we will see more growth of ILS products. Over time we are likely to see increased presence of ILS in the traditional market catastrophe space. Bermuda certainly has the talent, the range of capital sources, the regulatory environment and the client connections to make this happen. It would be great to see increased innovation. For example, cyber capability, flood expertise or other measures to help close the protection gap and innovation in low frequency, high severity risks. I think there is good potential here. What are the main challenges you see ahead? Bermuda is not the cheapest of locations and in a prolonged soft market, managing expenses is increasingly challenging. I am always wary of bureaucracy. It is important to have a balance between regulation that provides our clients with the confidence they need and without overly bureaucratic approaches that could impede our ability to be creative, respond quickly to market needs and demonstrate the entrepreneurship that makes this business successful. When you look around the world I believe Bermuda is doing quite well on this front. It is my hope that the political environment in which we live and work will continue to recognise the contribution we make to the Island and be constructive in helping that success continue. Are there any other leaders you particularly admire for what they have done to help propel Bermuda to prominence as a risk transfer hub? Top of my list would be Michael Butt, Brian Duperreault, Frank Majors and Tony Belisle. All have had a major influence in the success of Bermuda and its establishment as a major reinsurance industry powerhouse. Rob Wyatt has worked in the re/insurance market since 1982. He sits on the Reinsurance SBU executive committee, and is currently the CEO of MS Amlin AG’s Bermuda branch. Reflecting his keen interest in people development, Wyatt also serves on MS Amlin’s Talent Management Committee. Do you believe Bermuda will remain a risk transfer hub? What has made it so successful in this sphere? Bermuda’s success is built on three core factors. First, we continue to attract top talent to the Island. Second, we have a highly sophisticated, flexible and entrepreneurial view towards risk. Third, we continually look to adopt new approaches to providing solutions to client’s needs. This is all combined with a favourable and constructive regulatory environment. To me, it is this unique combination of factors that has made Bermuda successful and will continue to underpin our success. How do you anticipate Bermuda will continue to adapt and evolve? There is likely to be increased ILS involvement on the Island and I expect this to come in conjunction with a move away 40 2016 Bermuda:Re/insurance+ILS


Bermuda Reinsurance Leaders 2016
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