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Bermuda Rising Stars

24 December 2015 Bermuda Re/insurance BERMUDA’S RISING STARS would be an ideal career for me. Bermuda’s reinsurance industry is very dynamic; it offers young Bermudians a career path that can provide a wide array of employment choices, as well as the opportunity to work for big multinational corporations. When you combine these aspects with my desire to return home to Bermuda it seemed clear to me that I should pursue a career within the industry. The added benefit to me was that I happened to find reinsurance very fascinating. I recognised that there are few things in the world that aren’t insured. Insurance protects almost every aspect of our daily lives, which keeps the profession relevant and exciting. Do you think the industry is attractive to young professionals? As a Bermudian, I recognise that we are fortunate that our government took the right approach with regard to international business, particularly that these firms are encouraged to hire a certain amount of Bermudians. This requirement alone gives determined young Bermudians a slight advantage when deciding which career to pursue. In addition, the industry itself is attractive in its own right. The reinsurance industry is a global industry which interconnects with all other aspects of the business world. Without insurance to protect individuals and businesses we would live in a very different world. I believe young professionals find the work challenging yet rewarding and I believe anyone with the right attitude and an openness to learning will find the reinsurance industry in Bermuda to be an attractive career path. Do you think the reinsurance industry offers good opportunities and career development to young professionals? Yes, being a young professional in the industry myself, I do believe that there are excellent development opportunities for young professionals. There is a plethora of career opportunities offered within the industry, including roles in claims, underwriting, actuarial, brokering, financial, marketing, human resources, information technology, etc. As a young professional you are bound to discover an area that interests you. Furthermore, the majority of these companies are multinational, which opens up opportunities to work abroad and can expose young Bermudians to international business. Also, many of these multinational companies as well as the smaller ‘shops’ offer extensive training for new employees, which I believe to be a critical part of career development for a young professional. What are your aspirations for the future? Currently, my short term goal is to complete my CPCU designation, with only two exams left scheduled in the fal of this year. In the next few years I hope to become an underwriter within my company. Subsequently, I hope to advance further within the industry. Where that may lead, I am unsure. I hope to stay and live in Bermuda for the foreseeable future but should an opportunity arise that requires a shift in location I would gladly accept. I believe exposure to other markets, cultures and business philosophies are vital and help individuals to grow and expand their knowledge base. If you’d chosen a different profession/career path, what would it have been? I am very passionate about science across all fields. If I had chosen a different profession/career it would have been an astrophysicist. From as long as I can remember I have been fascinated by space, which I think I can attribute to Bermuda’s beautiful and clear night sky. That, or my father’s extensive National Geographic collection. I have a strong appreciation for math and truly believe that the scientific method is one of the greatest human creations/discoveries, however you choose to view it. Duncan Frith Job title: Assistant underwriter Company: Oil Casualty Insurance Career path Duncan Frith began his path in the insurance industry with a summer internship at Allied World Assurance Company, within their healthcare department. After receiving his BA in Business Administration from the Ohio State University he returned to Bermuda and started his career with Oil Casualty Insurance (OCIL) as a business analyst/marketer. He currently holds the position of assistant underwriter with the liability department at OCIL. He is an active committee member of the Bermuda Under 40s Reinsurance Group and is also working towards completing his CPCU designation. Why did you choose to go into the reinsurance industry? Growing up in Bermuda I was able to witness the positive effects and influence that international business, specifically in the reinsurance industry, has had on Bermuda’s economic landscape. My father worked in the tourism industry for almost 30 years and at a younger age I used to think I would follow in his footsteps. As time went on I became more aware of the opportunities in business and how my own skillsets could translate into a career, so I decided to go into international business. I was fortunate enough to receive my undergraduate degree in the US, which was afforded by my parents. This experience made me realise just how expensive and important education is and that one day I may need to do the same for my children. It was during this time that I realy started to pay attention to the reinsurance industry in Bermuda. I had a few older cousins and friends who were working within the industry and I observed their success. It was at the end of university that I realised international business


Bermuda Rising Stars
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