BII Insurance Industry Award Winners
The Bermuda Insurance Institute [BII] announced the winners of the Thirteenth Annual Insurance Industry Awards. The recipients will be honored at a gala dinner to be held on May 21, 2011 at the Fairmont Hamilton Princess.
Lifetime Achievement Award: Michael Murphy
The Lifetime Achievement Award recognizes a person who has distinguished his/herself in the industry over the course of their career, and has influenced and developed organizations, products, talent or industry networks with a view to building the future success for the Bermuda market.
The recipient of the 2010 Award is Michael Murphy, former AIG Legal Counsel. Since 1970, Mr Murphy has been a pivotal thought leader who has offered his skills pro-bono to the Bermuda community. His ideas, lobbying and endless hard work helped establish some of the critical movements and decisions that led to the success of the Bermuda market, including the development of the captive insurance market in the 1970’s, the creation of Bermuda’s first insurance law in 1978, the ratification of the tax treaty with the US which led to the open exchange of financial information in the mid-1980’s, the streamlining of US domestic tax legislation to minimize the number of separate US taxes being applied to American-owned foreign insurers that might be construed as doing business in the US, and the ongoing defense against US cross-border taxation.
He provided Bermuda regulators with the idea of the “Class Four” category for insurers, and assisted in drafting and implementing Bermuda’s mutual legal assistance agreement with the US and the Tax information exchange agreement with Australia that served as the model for such agreements with other countries. In 1982 he formed and managed the trade association known today as the Association of Bermuda Insurers and Reinsurers (ABIR), and operated as CEO until 2005. This group has been the vehicle that represents the major Bermuda companies before US Congress and several international bodies. Today, he continues to offer his pro bono services to the Bermuda Government, continue his significant work on behalf of Bermuda.
Industry Leader of the Year Award: Neill Currie
The Industry Leader of the Year Award recognizes a person who has made a significant contribution to the insurance industry in Bermuda during 2010 through outstanding leadership, unique thought leadership or outstanding ability that has influenced the market in a positive way beyond the results of their organization.
The recipient of the 2010 Award is Neill Currie, for his exceptional leadership and service as an ambassador for both Reinsurance and the Bermuda market. After co-founding RenaissanceRe in 1993 and assuming the CEO role in 2005, he successfully stewarded the Company through a period of intense catastrophic activity and financial market volatility, and recently led a strategic initiative that refocused RenaissanceRe where it excels: underwriting low-frequency, high-severity risks. Under his direction, RenaissanceRe has supported ground-breaking catastrophe research and mitigation activities which have highlighted the private market’s focus on the safety of disaster-exposed communities. Neill represents the industry on a number of international Boards, including the CEO Forum of the Financial Services Roundtable, the Geneva Association, and the Global Reinsurance Forum.
As Chairman of the 2010 World Insurance Forum in Bermuda, Neill helped convene distinguished speakers and attendees to debate critical issues facing our industry. Both Mr Currie and RenaissanceRe are established good corporate citizens of Bermuda, and have shown their commitment by employing and developing Bermudian talent, underwriting educational initiatives like the Company’s Undergraduate Scholarship, and supporting training through industry groups like the BII and RAA.
Young Industry Leader of the Year Award: Gavin Bishop and Vivienne Moniz
The Young Industry Leader of the Year Award recognizes an individual under the age of 35 who, over the previous year, has made a significant contribution to his/her own organization, promotes professionalism, ethics and the development of talent and technical expertise, and focuses on achievement in both their career and in the wider community in Bermuda. Gavin Bishop and Vivienne Moniz have been selected as co-recipients of the 2010 Award.
Gavin Bishop is Vice President and Controller of Validus Reinsurance Ltd., and is responsible for heading the Finance and Operations Departments, overseeing a team of twenty people. He is a Chartered Accountant who joined the insurance industry in Bermuda in 2003. He completed his CPCU designation in 2006, and through continuous study has completed upwards of 12 additional insurance designations, including the ACII in 2010. Gavin is a former President of the Bermuda Chapter of the CPCU Society, and is an active participant in CPCU Society and industry events. His passion for encouraging ongoing learning and development has resonated throughout his technically proficient team; most of whom have completed their Associate in Reinsurance and/or Associate in Insurance Services designations, with great support from the management of Validus. During 2010, Gavin led a study group for Validus employees and summer students working towards the completion of the AIS exam, resulting in a 100% pass rate. Gavin is a terrific role model who promotes ethics, professionalism and talent development. He enthusiastically leads by example, and gives up his personal time to help others develop to their full potential.
Vivienne Moniz is an Excess Liability Underwriter for XL Insurance (Bermuda) Ltd, a subsidiary of XL Group plc. She is responsible for a portfolio of Casualty Insurance business. In addition to her increasing responsibilities in this role, her volunteer work and her personal pursuits, Vivienne enthusiastically represented XL at conferences in 2010, and helped with the creation and updating of the Healthcare Regulations and Guidelines for XL and reviewed the new Bermuda Healthcare form that was released in October 2010.
She Chaired the Bermuda Healthcare Market Annual Education Lunch for the 2009 ASHRM Conference in Denver, Colorado and participated on the 2010 committee. She has been involved with BSHRM for several years, serving as the President-Elect during 2010 with plans to take over as President in 2011. She is an active member of the Bermuda Chapter of the CPCU Society after attaining the CPCU and Associate in Claims designations. She has also volunteered for the Kaleidoscope Arts Foundation, Meals on Wheels and served as a mentor with YouthNet. She captained the XL Commercial League Tennis Team, and completed the New York marathon in 2009. Vivienne is a bright, ambitious, conscientious Insurance industry professional who is an outstanding role model and motivator for her fellow Bermudians and international peer group. She is held in the highest regard by her colleagues, brokers, clients and the general community.
BII President John Wight congratulated the recipients and said: “The achievements of the 2010 Awards Recipients highlights the exemplary level of leadership and commitment to building a solid reputation of excellence in the Bermuda market, and to developing the talent required to support successful business development over the long term. The BII is pleased to recognize these individuals for their market leading contributions.”
The Bermuda Insurance Institute is a registered charity and educational institution, funded by its insurance industry members. The institute facilitates insurance studies, and insurance-related studies, organizes discussion of industry matters and other interaction among industry participants. Incorporated under The Bermuda Insurance Institute Act 1984, the organization has been preparing Bermudians for the insurance industry since 1970.
