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Risky Business A U.S. and Bermuda Under 40s (Re)Insurance Collaboration Winter 2010 |
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Bermuda Under 40s – 2009 Year in Review By Spencer Conway
Firstly, I would like to congratulate and thank all our committee members and our membership, without whom the organization and enjoyment of our events this year would not have been possible. 2009 has been an amazing year for the Bermuda Under 40s. We have taken on two new committee members, created three new social events on our calendar (as well as continuing with our existing events), continued to collaborate with the US Re Under 40s (in particular by working on our joint newsletter) and revamped our website and logo. We are now in the process of formulating our plans for an even better 2010 starting with a workshop on insurance-linked securities and our second annual panel discussion. New Members I would like to introduce our two newest members to the group: · Sal Tucci – Portfolio Risk Manager - Aspen Sal has over ten years of experience in the property insurance / reinsurance industry and is currently the Portfolio Risk Manager at Aspen where he is responsible for analyzing and developing tools to optimize the property reinsurance portfolio. Previously Sal was at Napco where he served as Managing Director and head of the Bermuda Office. Sal has also had heavy reinsurance analytical and program design experience, and has a Bachelor of Science in Actuarial Science from St. John’s University’s College of Insurance. · Wendell Hunt – Underwriting Assistant - Lancashire Wendell started his insurance career with Commercial Risk and then moved into the risk management division of AIG. He has also worked overseas with SCOR US and is now an Underwriting Assistant at Lancashire Insurance Company Ltd. Wendell has also been involved in the ABIC mentoring program here in Bermuda and has had an array of insurance experience across a number of fields including risk management, pensions, underwriting and claims. Wendell is ambitious about his future career prospects and his contribution to the local industry. We are excited to have Sal and Wendell on board and look forward to their contribution in 2010. 2009 Events This year we organized the following events: · Exclusive Analysis event – April 28th On Tuesday, April 28th we hosted an informal drinks event with our committee for Exclusive Analysis, who are a specialist intelligence company that forecasts commercially relevant political and violent risks worldwide. · Happy Hour at Latin – May 5th This event was organized by Chris Dart and was a chance for our membership to come out to the Rumbar at Latin and enjoy some cocktails. The event was well attended and was a great opportunity for our membership to meet with their industry peers and the Lloyd’s Under 30’s Group who were also on tour and visiting Bermuda at the time as part of their Bermuda / US tour. · Market Golf Day – July 3rd This year's Under 40s Golf Day at Belmont Hills was a resounding success, with over 50 keen (and not-so-keen) golfers showing up for a good afternoon of golf. Fourteen people participated in the level 1 clinic getting expert advice from Darron Swan, the club professional, before bravely moving on to try their new skills on the course. Level 2 had ten teams taking part in a captain’s choice competition with some teams clearly taking it more seriously than others, obviously spending more time over each shot as the last team to finish came in well over an hour behind the first team to finish. · AGM and Sunset Cocktail Cruise – September 3rd This year’s AGM was held on September 3rd and incorporated a social event afterwards on board the MV Elizabeth. We all met up at Albuoy’s Point for 6:30pm for a three-hour tour. We headed out through Paradise Lakes towards Dockyard and enjoyed a beautiful sunset alongside our open bar on offer and the chance to catch-up with our industry peers. Committee members took turns operating the bar and ensuring ample hors d’oeuvres were available. A huge thank you to Julia Mather and the entire committee for working together to put on a thoroughly enjoyable evening on the water. · Quiz night V – November 5th On November 5th we held our fifth quiz night at Flanagan’s/Outback bar and our legendary hosts Mark Pomeroy and Scott Gemmell did an amazing job of putting together a great and challenging quiz and ensuring that the quiz night was MC’d and managed well. Given the success of this quiz it has become a regular fixture on our annual events calendar. · Christmas Drinks – December 3rd We held an informal social event at Opus to kick start the festive season. This was a great opportunity for some of our members to take a well-needed break from renewal season. 2010 Events Our preliminary outline for 2010 is as follows and further details of our events will be posted on the events section of our website soon: · Insurance-linked securities presentation – January 20th Sal Tucci will be hosting our first educational presentation of 2010 at XL Insurance on insurance-linked securities. The guest speakers will be Chase Toogood, CEO of Iris Re and Frank Majors, founding partner of Nephila. · Panel Discussion: “Bermuda: A Seat at the Table?” – April 22nd The second Bermuda Under 40s panel discussion entitled “Bermuda: A seat at the table?” is taking place on Thursday, 22 April 2010. Don Kramer (Ariel Re), Mike McGavick (XL) and Michael Butt (Axis) have all agreed to join our panel and we are waiting for confirmation from other panelists. We are inviting members to submit questions for the panel’s discussion. If you would like to put forward a question, please email your question to Katie.Tornari@law.bm by 26 February 2010. Venue and price of the tickets are to be confirmed. · Newsletter release – Quarterly We are inviting our members to submit articles for our next newsletter in the first quarter of next year. If you would like to submit an article, please email your idea to Katie.Tornari@law.bm on or before 31 January 2010. We would like to thank our members for all of their support and our committee for all of their contributions. If you would like to learn more about our group, please check out our website: www.bermudaunder40s.com or join our group on Facebook. Kind regards, Spencer Conway
About the author: Spencer Conway is the Chairman of the Bermuda Under 40s Re/Insurance Group. He is also a Modeling Analyst at Lancashire Insurance Company Ltd. If you have any questions you can contact him on spencer.conway@lancshiregroup.com or by phone on 441-278-8954.
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