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Bermuda Reinsurance Leaders 2016

is naïve to think that a market can have steady, substantial growth year after year. Big growth tends to happen in spurts. For the present and near future we will continue to see modest growth because we are a market of leaders. RenRe, Arch, Validus and others will continue to thrive. More companies are effectively forming alternative investment reinsurers: the new Chubb with ACE and Arch with Watford are examples and this trend will grow. Bermuda is the jurisdiction of choice for new companies. What are the main challenges you see ahead? 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. The existing labour pool is very good but as new opportunities come up we will need to expand it. Are there any other leaders you particularly admire for what they have done to help propel Bermuda to prominence as a risk transfer hub? Bob Newhouse and Bob Clements are the fathers of modern Bermuda. They started ACE, XL, Mid Ocean (the first cat company), Arch, and others. Jim Stanard started RenRe and propelled Bermuda to being the dominant worldwide leader in property catastrophe. Paul Ingrey was the first CEO of Arch and laid the foundation for its future greatness. There are other leaders who made great contributions but those are the four at the top of my list. BERMUDA’S REINSURANCE LEADERS John Berger is the chairman and CEO of Third Point Reinsurance and has served in these positions since December 22, 2011. He is a member of the board of directors of the Reinsurance Association of America. He earned an undergraduate degree in economics from Princeton University and an MBA from Rutgers University. Do you believe Bermuda will remain a risk transfer hub? What has made it so successful in this sphere? Yes. Bermuda will continue to be a risk transfer centre. The superior regulatory climate, the financial infrastructure, the talent pool, and the proximity to the US and the UK are the most important factors in Bermuda retaining and growing its presence in the re/insurance world. How do you anticipate Bermuda will continue to adapt and evolve? Bermuda is the centre of innovation. Most new international companies are formed here for the reasons I gave above. No other jurisdiction has all these attributes. What will be the main areas of growth for the Island’s risk transfer market? Significant growth right now will be difficult to achieve. It “The existing labour pool is very good but as new opportunities come up we will need to expand it.” John Berger Job title: Chairman and chief executive officer Company: Third Point Re Timeline: 2015: Chief executive officer of Third Point Reinsurance (USA) 2011: Chairman and CEO, Third Point Reinsurance 2010: CEO, reinsurance and vice chairman of the board, Alterra Capital Holdings 2005: President and CEO, Harbor Point 1998: CEO and president of Chubb Re 8 2016 Bermuda:Re/insurance+ILS


Bermuda Reinsurance Leaders 2016
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