The Bermuda Insurance Institute [BII] held its 18th annual Insurance Industry Awards Event at the Fairmont Hamilton Princess.
Governor George Fergusson gave the key note address. He told the audience, “Insurance and re-insurance are the backbone of today’s Bermuda economy.
“As by far the biggest business sector, you provide employment, inject cash into the economy in all kinds of ways, and, as we shall be marking in various ways tonight, you lead in corporate responsibility. You also provide a fundamentally important underpinning to Bermuda’s style of business, in leading on probity.
“As I have said before, a peculiarity of Bermuda’s business model is that Bermuda exports probity. Our fair and efficient courts themselves attract business because they are trusted. Our aviation and marine registries exist because the high standards they enforce have a market.
“And you, the insurance and re-insurance industry, have been at the forefront in both encouraging high standards of transparency and accountability; and in helping to ensure that Bermuda’s adherence to these standards is recognised more widely in a critical world. You have authority in this area; and you count.”
Added to the list of distinguished award winners are: Stephen Catlin who received the Lifetime Achievement Award, Victoria Cunningham who received the Young Industry Leader of the Year Award, Jeremy Cox who received The Industry Leader of the Year Award, Marsh and McLennan Companies who received the Corporate Social Responsibility Award, and XL Catlin who received the Top Corporate Sponsor Award.
Stephen Catlin was not in attendance; however via a prerecorded video, he thanked the BII for the award and said that he planned to continue to be a part of the industry in the future. Patrick Tannock, President of XL Catlin Bermuda, accepted the award on behalf of Stephen Catlin.
Jeremy Cox received the Industry Leader of the Year Award. During his speech, he said, “This is very special for me and my team. This recognition represents a massive vote of confidence in the BMA, there’s an enduring quality and character that brands the financial services industry in Bermuda which, I believe, distinguishes us from just about every other jurisdiction in the world.
“This is what has helped to make us so successful over the years. And the fact that the financial services private sector saw fit to name the regulator Industry Leader of the Year tells me that our unique brand is alive and well and living up to its promise. Thank you.”
Victoria Cunningham accepted the Young Industry Leader Award. During her speech, she discussed the importance of mentoring. She stated, “If it had not been for my mentors over the years I wouldn’t be here this evening.”
Jill Husbands, Managing Director of Marsh and McLennan Companies [MMC], accepted the award on behalf of her company.
When accepting the award, she said, “We are honoured to receive the CSR award, as this is truly a team effort by our many volunteer colleagues from Marsh IAS, Bowring Marsh and Guy Carpenter. We would also like to thank our partner charities and look forward to working with them in the future.”
Patrick Tannock accepted the Top Corporate Sponsor Award on behalf of XL Catlin. He said “It’s great to be acknowledged and we sincerely appreciate it, but, we do not do what we do to be acknowledged! We do it because it is the right thing to do.
Mr Tannock also stated, “Although there is a financial component to the award that is given consideration, what gives us particular satisfaction is the in kind element of the award, and, we encourage our colleagues to lead from the front by sharing their knowledge, skill sets and experiences with others in the market place and broader community, like the current BII Women’s Development Series where our very own Kim Wilkerson and Cathy Duffy are leading seminars.”
During his closing remarks, Andrew Soares, Chairman, BII Council thanked the BII staff, governing Council, Education Committee, and BII members for their support noting that the BII is continuing to enhance as an organization.