ILS Bermuda has launched an internship programme to give Bermudian students a taste of work in the burgeoning insurance-linked securities industry.

The group, which promotes economic development through the growth of ILS and alternative risk transfer in Bermuda, has partnered with Bermuda College since 2017 in an education initiative to provide educational and work experience opportunities for students.

The internship will provide funding for student internships and work shadowing opportunities with industry participants.

The first ILS internship programme has now been offered to students in partnership with Marsh Management Services (Bermuda). Students receive exposure to accounting, underwriting and finance processes as well as hands-on data analysis from actual ILS transactions.

Michael Coles, ILS Bermuda Education co-chairman, said: “We are delighted to have Marsh Management enrol the first students in the ILS internship programme. In particular, we would like to thank Nicolas Plianthos of Marsh for his commitment through volunteering and sharing his knowledge of the industry with the students. We hope to offer more internship opportunities in the future with other local companies in the ILS industry.”

LaVonne Smith, co-chairwoman of ILS Bermuda education initiative, and senior vice-president, ILS Capital Management Ltd, stated: “ILS Bermuda is keen to involve and engage local students, mentor and encourage them, and provide opportunities to enter the ILS and the alternative reinsurance space.

“With access to these various education and development initiatives, students gain great exposure to and opportunities in an industry in which Bermuda is the world leader.”

Feedback from students has been positive with one student stating: “This has been one of the most interactive, immersive, and challenging internships I've experienced. From the various homework assignments on topics like 'the protection gap' to listening in on actual calls about ILS transactions, this was a great learning experience for me.”

Companies interested in participating in the ILS internship programme are invited to contact ILS Bermuda for more details.

• For more information about the Bermuda ILS market visit www.ilsbermuda.com