Bermuda Insurance Institute Moves Location
After 19 years at its previous location, the Bermuda Insurance Institute [BII] has moved to a purpose built facility in Sofia House.
The Governor officially opened the new premises, and in his remarks he noted the reciprocal relationship between Bermuda and the insurance industry saying, “Bermuda is good for insurance and insurance is good for Bermuda.” He also mentioned the importance of providing development opportunities for young persons interested in the insurance industry.
Minister of Education and Economic Development Dr. Grant Gibbons and several members of the insurance, reinsurance, and captive insurance industry were in attendance at the opening event.
Chris Fisher, Chairman of the BII Governing Council shared information about the BII’s strategy and journey towards world class status. He sited the leadership program that the BII hosts in partnership with the Wharton School of Business as an example of an initiative designed to provide exemplary professional development opportunities on island.
Mr. Fisher also thanked those companies and individuals who donated significant funds to off set the cost of construction for the new premises. This list includes: XL, Ace [in honour of Mr. Roger Gillett], BF&M, Mr. Brian Duperreault, the Bermuda Independent Underwriters Association [BIUA], and The Association of Bermuda Insurers and Reinsurers [ABIR].
Rees Fletcher Division President of ACE Bermuda Insurance Ltd provided the key note address. Mr. Fletcher spoke about the relevance of the BII in today’s challenging insurance market and its critical role in not only training new entrants to the insurance market, but also developing the industry’s thought leaders of tomorrow.
He reminded the audience that the BII’s success as a preeminent training organization, developing valuable industry talent, is a testament to the hard work of the market practitioners who have volunteered their time, knowledge and experience over the past 30 years. And to build on these achievements, it is essential that the BII receives the continued support of all companies in our industry.
Dr. Dawnnelle Walker, CEO of the BII provided closing remarks. She highlighted the partnership between the BII and the Ministry of Education which is providing public high school students with a career pathways program in re/insurance. Dr. Walker also mentioned the BII partnership with Georgia State University which will provide persons with the opportunity to complete an MBA in Risk and Insurance on island.
Dr. Walker thanked her colleagues at the BII: Delma Parfitt and Carol Pitt for their years of service, support, optimism and belief in the organization. She closed her remarks with a quote from Jimmy Johnson telling the audience that the difference between the ordinary and the extraordinary is the little extra.
She then thanked the BII Governing Council, the BII Education Committee, the many industry volunteers, instructors, member companies, and all those who provide regular support to the organization for giving the BII “a little extra.”
The Bermuda Insurance Institute is a registered charity and educational institution, funded by its insurance and related industry members. The institute facilitates insurance studies, and insurance-related studies, organizes discussions of industry matters and other interaction among industry participants.
It was incorporated under The Bermuda Insurance Institute Act 1984, the organization has been preparing Bermudians for the insurance industry since 1970.
