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Company: HSCM Bermuda
Job title: Managing director
2016: Managing director, HSCM Bermuda
2006: Vice president, MRe head of actuarial & MRH head
of capital modelling, Montpelier Re
2001: Senior actuarial analyst, Liberty Mutual
we view risk and return, more efficient capital flow between
investors and insurers, and improved distribution between
insurers and insureds.
If you had chosen a different profession/career path, what
would it have been?
I feel I chose the right career path for myself, and cannot
picture an alternative. The actuarial exam process was
gruelling, but it was an excellent route into the re/insurance
industry and to make my way to Bermuda. I am fortunate to
live in Bermuda which has a high concentration of intelligent
and motivated people in the industry. If I could change
something, it would be to live closer to family.
Rachel Bardon has more than 16 years of experience in
the P&C insurance and reinsurance industry, ranging from
reserving, rate-making, pricing, planning, capital modelling,
risk management, and more recently in net asset valuation
and casualty underwriting for ILS.
Why did you choose to work in this industry?
A combination of luck and love of maths brought me into
the insurance industry. Luckily for me, the guy sitting
next to me in a maths class in university said his mother
suggested he look into becoming an actuary. That night, I
researched on beanactuary.org and other sites, and came to
the realisation that I was meant to be an actuary. The next
day, I changed my minor to statistics and signed up for seven
statistics classes for the next semester. From my research, I
knew that Bermuda and London were hubs for re/insurance,
and planned to come out to Bermuda after a few years in
the direct insurance industry and a few more actuarial exams
under my belt.
What has been the highlight of your career so far?
From a personal viewpoint, earning my Fellow of the Casualty
Actuarial Society in 2007 was unbelievably gratifying. In
2012 I was awarded the Chartered Enterprise Risk Analyst
designation via the experienced practitioner pathway, a one-time
acceptance for those who have demonstrated expertise
and substantial experience in the field of enterprise risk
management. From a recent business viewpoint, completing
my first ILS investment in long-tailed casualty run-off was
What has been the biggest challenge you have encountered?
We need to be more innovative. Traditional reinsurance has
ever-thinning margins with heavy competition in standard
products. The industry has room for development in how
“Completing my first ILS investment
in long-tailed casualty run-off was
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