are women, with a female managing director in Bermuda and a
female CEO of the group.
Companies who understand the need for diversity are essential in
addressing any shortages of women in the industry.
What is your view of the current state of the
re/insurance market in Bermuda?
M&A can be seen as a negative concept: the bigger fish swallowing
the smaller ones. In this market companies are consolidating to
become stronger, which in turn strengthens the market and can
create better opportunities.
While it is true that there is a net reduction in market participants,
we are seeing fresh market entrants on the Island that are still able to
attract talent and capital. I see the Bermuda market as malleable and
therefore resilient and influential in spite of, and possibly even as a
result of, internal or external forces.
How well is Bermuda positioned to continue to prosper?
Bermuda is well known for its gold standard reputation, and widely
known as a blue chip jurisdiction. It is essential that Bermuda continues
its healthy, open partnership between the government, the regulators,
and private industry. Historically, the pillars of the jurisdiction have
indeed worked together with success, with favourable outcomes such
as Solvency II equivalence.
The focus must continue in particular on active consultation, to
ensure that policy is not dictated in isolation and Bermuda continues
Bermuda is a sandbox for innovation and thought leadership,
particularly in the insurance space, given the high levels of talent and
sophistication developed through and on the Island. The continuation
of this progressive innovation in product, service and offering are
key to the longevity and continued relevance of the jurisdiction in a
How do you see the industry developing in the next
In the insurance space, we will continue to see contraction in the
short term. However, that contraction will be juxtaposed with the
expansion of new breeds of market participants—a consistent theme
We have seen the market evolve for decades and it is the strength
of innovation that will ensure Bermuda remains more than relevant
in the next evolution. Innovation and talent will attract capital. More
fluid and progressive legislation will enable each to thrive.
It is my hope and expectation that women and young professionals
will be given a greater opportunity to participate and thrive in the
SHUTTERSTOCK / MINERVA STUDIO
“Companies who understand the
need for diversity are essential
in addressing any shortages of
women in the industry.”
Bermuda is definitely not afraid of diversity in the workplace,
indeed it was a key theme of last year’s Bermuda Captive Conference.
The conference spoke to the importance of women in the industry
and the impact women have as professionals in Bermuda.
How else can any such shortage be addressed?
From my perspective, so much of the mindset needed to challenge
the norm, to develop the pathways for Bermudian women to
want to join the financial services industry, starts in the education
It is essential that schools actively encourage a sense of
empowerment for women and give young people the information and
tools to make informed and conscious decisions to enter the workforce
and in particular, the financial services industry, where many of us
reside. To be absolutely clear, not everyone wants to work in, or is
suited to, financial services, but young women should be given the
right information and education to make those types of choices
It is a duty of companies to actively seek out diversity. In the
trust industry, there is a definite movement towards the younger
generation, who are either uninterested in traditional investing, or
actively demanding that trustees ensure investment in entities and
industries that demonstrate diversity on their boards.
Last and most important, we have an obligation as successful,
influential women, to motivate, teach and provide a strong support
system. It’s not an us-against-them theory at all, it’s a recognition that
our young people deserve this support system.
At Estera, diversity is extremely important to us as part of our
culture. Sixty-five percent of our global team is female, which is 22
percent higher than the industry average; 39 percent of our directors
SPECIAL REPORT: WOMEN IN HAMILTON 23