2015 22 Bermuda:Re/insurance+ILS


challenges. Most important has been the opportunity to work with so many amazing people from all aspects of the industry, both insurance and reinsurance, over the span of my career. Being recognised by the BII recently as the 2014 Industry Leader of the Year certainly stands out as a personal highlight. I feel extremely honoured to be the first woman to receive this award. For me, that award represented two things I am passionate about, that is, Bermuda and women being recognised for what they have to offer the industry. Neither of them gets the recognition they deserve!


What has been the biggest challenge you have encountered? Kathleen Faries


Job: Chief executive officer Company: Tokio Solution Career path 2012—Tokio Solution 2007—Tokio Millennium Re 2004—Crump International 1999—Marsh Management Services


Kathleen Faries has more than 25 years of experience in the insurance and reinsurance field including broking into the US, London and Bermuda markets as well as developing and managing captive insurance companies.


Prior to starting up Tokio Solution in 2012, Faries was head of the


Market Solutions unit at Tokio Millennium Re. This division was responsible for managing the fronting and transforming services Tokio Millennium Re provided to capital market entities, as well as underwriting the company’s ILW and cat bond portfolios.


She received a BSc in communications studies from Northern


Illinois University in 1985 and an Associate in Reinsurance designation in 2002.


Why did you choose to work in this industry initially?


Actually insurance chose me, I did not choose insurance. I had my sights set on a career in public relations or advertising but after a few months of job hunting, I took a job at Marsh & McClennan in Chicago and never left the industry after that. In my view, as a woman starting out in the industry, working on the production/sales side of the industry was advantageous.


If you can deliver the numbers, typically the advancement and


opportunities will follow. I used my sales performance as a way to overcome any potential gender bias that started to creep in since the numbers are hard to ignore.


What has been the highlight of your career so far? My career has afforded me some incredible experiences and personal


“What is most satisfying and gratifying to me is building great teams, finding ways to inspire and motivate each individual to achieve their own personal best, and then celebrating every personal and team achievement along the way.”


Early on in my career it was important to me that I be taken seriously as a professional. Being in a male dominated industry (insurance) and in my case also selling to a male dominated industry (trucking) was a fun challenge. My approach was to be as good at it as I could, and essentially prove myself worthy of being in the ‘club’. I was called ‘sweetie’ and ‘honey’ more times than I care to count but I never let this get in the way of succeeding and winning the business. In the end, I was accepted and respected as an ‘expert’ in the industry. Without a doubt, having a sense of humour and being persistent have served me well over the years.


If you had chosen a different profession/career path, what would it have been?


One nice thing about getting a little older is that you start to really understand your strengths and weaknesses. The other thing you realise is that regardless of the industry, product, or goal, success will always involve motivating and inspiring people. So, regardless of what industry or career I would have ended up in, it is clear to me now that I will always gravitate towards a leadership role. What is most satisfying and gratifying to me is building great teams, finding ways to inspire and motivate each individual to achieve their own personal best, and then celebrating every personal and team achievement along the way. ■


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