The Bermuda Insurance Institute [BII] announced the recipients of the 2014 Insurance Industry Awards, which serve to recognize extraordinary companies and individuals whose contributions to the [re]insurance industry, and/or the local community is highly commendable. The winners will be honoured this year on May 14, 2015 at the annual awards ceremony at the Fairmont, Hamilton Princess.
The following people will be included in the list of notable awardees
Kathleen Faries will receive the Industry Leader of the Year Award which recognizes an individual who has made a significant contribution to the insurance industry in Bermuda during 2014. This award recognizes outstanding leadership, unique thought leadership, and/or outstanding ability that has influenced the market in a positive way beyond the results of their organization.
Ms Faries has over 25 years industry experience. She is currently the CEO of Tokio Solution Management Ltd [Tokio Solution], a wholly owned subsidiary of Tokio Millennium Re AG [TMR]. Kathleen began as the head of the Market Solutions department of TMR and was instrumental in developing and expanding that department into what is now Tokio Solution.
As CEO of Tokio Solution, she has spearheaded cutting edge Insurance Linked Security [ILS] solutions. Under her leadership Tokio Solution won the Trading Risk 2014 Market Facilitator of the Year Award, an award they also won in 2011 as part of Tokio Millennium Re.
Ms Faries also lends her support and leadership to insurance industry groups such as ILS Bermuda where she is a founding member and member of the board. ILS Bermuda spearheaded the creation of “ILS Bermuda Convergence”, a leading ILS conference held in Bermuda every autumn.
The ILS Bermuda Convergence 2014 event was hailed a major success, drawing more than 300 delegates from 13 different countries including Canada, Cayman Islands, Finland, France, and Germany. Kathleen also sits on the board of Women In Reinsurance [WIRe] and the Bermuda Insurance Institute [BII].
Ally Roberts will receive the Young Industry Leader of the Year Award, which recognizes an individual under the age of 35 who over the previous year has made a significant contribution to his/her organization, promoted professionalism, ethics and the development of talent and technical expertise. Award winners are also focused on achievement in both their career and the wider community in Bermuda.
Ms Roberts has demonstrated great potential for career development. She works for Validus and has demonstrated how exceptionally talented she is from the outset of her career. Ally started her time with the company in the summer student program and was hired in the Operations Department as a Junior Reinsurance Analyst upon graduation from the University of Western Ontario. After about a year, she was promoted to Reinsurance Accountant and subsequently during 2014 to Assistant Manager, where she quickly built a team with five direct reports.
Ally has successfully completed many [re]insurance industry designations. They include: The Associate in Reinsurance [ARe], The Associate in Insurance Services [AIS], and the Chartered Property Casualty Underwriter [CPCU] designation. Ally is part qualified as Chartered Professional Accountant [CPA] and will shortly complete the qualification. Additionally, Ally is very involved with the CPCU Society and has held many roles as a part of the Leadership Council and having chaired several committees. She is currently President-Elect of the Bermuda Chapter of the CPCU Society.
BF&M Insurance Group will receive the Corporate Social Responsibility Award. John Wight, President & CEO, stated, “We are so proud of this recognition which speaks to the heart of the people at BF&M who have a passion for our community. One of the many benefits to being a financially strong insurance group is that this enables us to give back to our island in a very meaningful way, whether it be to assist Bermuda’s charities financially or by having BF&M staff members volunteer their time for worthwhile projects in our community. We are so thankful to the Bermuda Insurance Institute for this award”.
Mr. Wight added, “Our commitment to supporting our community does not waiver based on the state of the economy. In fact, we have increased our charitable giving in recent years during these tough economic times as Bermuda charities and causes need financial support now more than ever.”
He added, “What sets us apart from many of our industry peers is that in addition to the larger charities such as the Bermuda Hospitals Board’s Charitable Trusts “Why it Matters” campaign, that BF&M donated $250,000 to, BF&M tries to respond to the needs of smaller charities that are out of the mainstream spotlight.
“We believe that so many of the smaller charities make a vital contribution to our society, but due to their size, they often miss out on much needed donations. As a champion for all charities, both large and small, BF&M is proud to have supported over 75 different registered charities in 2014. Three quarters of these charities can be characterized as small.”
In closing Mr. Wight stated, “We thank the Bermuda Insurance Institute again for awarding BF&M the 2015 Corporate Responsibility Award. We look forward to giving back to our community for many years to come”.
At this year’s event the BII is pleased to announce a new award category titled: Top Corporate Sponsor. The award will be given to the company that provided the most support financially and “In Kind” to the BII during the year 2014. The recipient of this award is ACE Group.
Dr. Dawnnelle Walker, CEO of the BII, said, “ACE has been a major patron of the BII for many years and is a platinum level member. Last year alone ACE provided the BII with significant financial support, use of ACE Building facilities, and the time of countless employees who volunteer on BII committees, panel discussions and facilitate seminars. The BII continues to offer effective professional education and development opportunities for Bermuda’s risk professionals thanks to the support of companies like ACE and our other members.”
Dr. Walker also offered congratulations to this year’s winners and commented, “The BII is pleased to have the opportunity to celebrate the insurance and reinsurance industry: a cornerstone of Bermuda’s economy. Our awards event highlights professional excellence and the industry’s strong emphasis on community support.”
The BII is a registered charity and educational institution, funded by its insurance industry members. The institute facilitates world-class training, development, and assessment. It also acts as a focal point for discussion of insurance industry matters and other interaction among industry participants in Bermuda. Incorporated under the Bermuda Insurance Institute Act of 1984, the organization has been preparing Bermudians for the insurance industry since 1970.
To purchase tickets for the awards event contact: the BII at 295-1596. Tickets may also be reserved online at www.bii.bm.