100 influential women in re/insurance


in the local paper for an entry level position in a large captive company of a multinational oil company. I was sent to work in their London office for four years and


Name: Job: Leila Madeiros


Company: Association of Bermuda Insurers and Reinsurers (ABIR)


Senior vice president, deputy director and corporate secretary


Timeline: 2011—Senior vice president, deputy director and corporate secretary, ABIR 2009—Senior vice president & Corporate secretary, ABIR 2006—Vice president, ABIR


Leila Madeiros is the senior vice president, deputy director and corporate secretary of the Association of Bermuda Insurers and Reinsurers (ABIR). Madeiros leads ABIR’s efforts in Bermuda, specifically managing ABIR’s policy development work related to Bermuda’s efforts to ensure that the Bermuda Monetary Authority’s (BMA) regulatory regime is equivalent to international standards. She also serves as ABIR corporate secretary involving her


in every aspect of the association’s work including corporate organisation, government and industry relations and financial management. Madeiros leads the association’s outreach to the Bermuda community helping to encourage Bermudians interested in employment in the international insurance sector. Prior to joining ABIR, Madeiros was the deputy director of policy, research and communications at


the BMA directing


the formulation and dissemination of appropriate policies, strategies and information for the BMA. Madeiros also served in various capacities as a Bermuda insurance regulator with the Registrar of Companies Department (prior to 2002, the agency charged with insurance supervision). Madeiros developed her insurance expertise working at Heddington Insurance in Hamilton and London before becoming an insurance regulator.


Why did you choose to work in this industry initially? I think it chose me. I had just finished my graduate degree and was looking to enter the business world when I noticed an ad


62 | INTELLIGENT INSURER | 2015


that proved to be a pivotal point in my career where I knew that insurance/reinsurance was where I wanted to make my career. The 1990s proved to be an exciting time in the evolution of the Bermuda market as it transformed itself from a majority captive market to also becoming a commercial reinsurance centre with significant physical presence and jobs. This would continue over the years and as such, Bermuda needed to adapt its regulatory framework to accommodate this shift so I was encouraged by the then Minister of Finance the Hon. Dr. David Saul, and later Premier of Bermuda to give back to Bermuda by joining the Registrar of Companies’ Office which at the time was charged with regulating and supervising the insurance industry among other things.


What has been the highlight of your career so far? The highlight of my career really is the amazing opportunity to work daily with the champions and leaders of our industry and to be part of an organisation that not only represents the interests of its members on the world stage but Bermuda as well.


What has been the biggest challenge you have encountered? We have witnessed the comprehensive impact of increased regulation since the financial crisis in 2008 and the variations in our marketplace that have amplified the need to keep pace with the change. We need to be ever mindful and on one’s toes so to speak to avoid being caught off guard. Bermuda may be considered an isolated oceanic island geographically, but with the presence of internationally active insurance and reinsurance groups generating income from over 150 countries, there are global initiatives that are running concurrently which must be carefully and appropriately monitored, addressed and responded to if we are to be successful in maintaining the success of the Bermuda marketplace.


If you had chosen a different profession/career path, what would it have been? It probably would have been teaching. I love to learn and to share with others what I know. I have been incredibly blessed in my life to have those who have invested in my life and taken the time to share their knowledge and to challenge me. I have been involved in this industry for almost 30 years and I am always learning. There is something new every day and I hope I never lose that fascination with what makes this industry tick. I guess when I do then it’s time to move on.


www.intelligentinsurer.com


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