Apply For BILTIR Summer Intern Programme

January 8, 2020 | 0 Comments

Bermuda International Long Term Insurers and Reinsurers [BILTIR] is inviting local students to apply for a 10 week summer internship with a member company.

BILTIR, which represents the island’s long-term insurers and reinsurers who provide life and annuity products, hopes the internship programme “will create a pipeline of local life insurance professionals, and that eventually Bermuda will begin exporting these skills to other countries.”

The programme, which is now in its third year, is open to young Bermudians and the children of Permanent Resident Certificates [PRC] who are at college or university studying a business-related subject.

The paid interns will get hands-on experience of how the life insurance and reinsurance sectors work as well as learning about their products. The placements include roles in accounting, actuarial, finance, operations and investments.

The programme, which begins on June 16, also consists of weekly lunch and learn sessions hosted by participating member companies as well as two networking events.

The number of interns has grown from 10 when the programme was launched in 2017, to 18 last year.

The sector is booming and BILTIR is enjoying strong growth. In 2019, the number of member companies grew from 55 to 61 – an 11% increase in membership.

“The Summer Intern Programme is just one of the initiatives that BILTIR engages in to assist local youth to learn about the life insurance industry,” said BILTIR Executive Director Ronnie Klein.

“Our mid-term goal is for Bermuda to be an exporter of insurance and actuarial talent instead of an importer. If the growth of BILTIR’s Summer Intern Programme is any indication, we will achieve our goal.”

By the end of 2018, assets managed by the long-term industry in Bermuda reached nearly $500 billion – a large majority of them managed by BILTIR members. Member companies employ 540 people in Bermuda, and they contribute more than $200 million in direct expenditure each year.

BILTIR companies taking part in the internship programme will vet, interview and select the applicants. Students can apply for the progamme through the BILTIR website www.biltir.bm.

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