2015 6 Bermuda:Re/insurance+ILS


“One of the ways I would like to continue to add value is to play a bigger role in helping women in our company reach their highest potential.” Rebecca Roberts, RenaissanceRe


“Initial planning for the integration of the two companies was a complex process, but we completed the transaction relatively quickly. Now that we’re one company, the ongoing work of shaping XL Catlin’s future and refining our operations is just as challenging.”


Cross says that another important challenge is the mentoring of new talent.


“The younger generation of actuaries is entering the field with technological savvy and a fresh point of view. I want to help the Casualty Actuarial Society tap into the deep potential of our members so that we can be the creative, flexible partners our companies need,” she says.


For Michelle Seymour-Smith, chief financial officer, Arch Re, the need


to open the doors to change is very real, but she admits that she herself can at times struggle to embrace change.


“I’m guilty of resistance to change myself on occasion. I’ve learned change is coming one way or the other and the sooner you embrace it, the sooner you can help to be a part of shaping the change,” she explains.


Bermuda initiatives


While plenty is evidently being done to promote and support the progress of women in the industry, there is always more to do. “Businesses need to actively plan to progress women, to


give mentoring opportunities, to create networking and other opportunities which do not revolve around more male-dominated activities,” says Bell.


“It is not enough to employ women in entry level positions; businesses


must consciously ensure that they are giving the women the same opportunities as men to work on the key accounts, develop relationships with rainmakers, and have access to the power brokers.


“It is not only the right thing to do, it is the smart thing to do! And


until statistics showing women still only making 77 cents for every dollar earned by men are a thing of the past—we have work to do.”


Reardon, who feels strongly about positively influencing the next set of


female leaders, says that Bermuda is supporting women in the industry well with a number of initiatives.


“It is important to me to find enough time to offer educational and mentoring opportunities either through WiRe (Women in Reinsurance), which I chair, or on my own,” she says.


“There are several organisations in Bermuda promoting the advancement of women such as BPW Bermuda, the local chapter of the International Federation of Business and Professional Women. Specific to reinsurance, the group I co-founded and currently chair is WiRe. We are 150 members strong and offer educational, mentoring and networking opportunities to professional women in reinsurance.”


In addition, several companies on the Island have specific initiatives


for women. The ACE Women’s Forum (AWF) provides networking, mentoring


and communications for women within ACE, and seeks to build a bridge from ACE’s network to other women’s networks to engage highly skilled women who are clients, peers and partners in business.


The women leaders of PwC Bermuda have also formed a networking group. Advancing Women through Attracting, Retaining and Empowering (AWARE) seeks to bring women together to provide opportunities for them to support themselves, and others, to grow personally and professionally through leadership, education and networking.


There is also the Centre for Leadership forum, which is a Bermuda- based organisation focused on fostering better leadership opportunities for women.


In June, more than women from all industry sectors across Bermuda attended the launch of 100 Women in Hedge Funds (100WHF), which was sponsored by EY.


Formed in 2001, 100WHF offers networking, educational and


philanthropic opportunities in more than 19 locations across three continents and has raised over $36 million for philanthropic causes in the areas of women’s health, education and mentoring.


Overall, the role of women in the industry is increasing, and Bermuda is doing well to create substantial waves in this movement.


On the following pages, we profile the women in the industry who are creating role models for the younger female generation. ■


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