third annual awards dinner dance on Saturday at the Fairmont Hamilton Princess.

The event is to honour two long standing members of the Island's insurance community with awards. James Stanard, chairman and chief executive of RenaissanceRe Holdings, has been named Bermuda Market Leader of the Year and Brian Hall, president of Inter-Ocean Management and former head of Johnson & Higgins Bermuda, will receive the 2001 Lifetime Achievement Award.

These awards were first introduced two years ago to recognise contributions of individuals within the Island's insurance industry whose initiative and leadership set them apart from their peers. The BII also feels these awards recognise the global significance of the Bermuda market and are in line with the institute's commitment to excellence in its work to prepare future innovators and leaders of the industry.

A broad based panel sits on the award selection committee including representatives from Business Insurance, the College of Insurance, the Bermuda Insurance Management Association, the Bermuda Independent Underwriters Association, the Insurance Brokers Association of Bermuda, The Royal Gazette and the BII.

The Market Leader award is given to someone who has distinguished himself or herself during the past year and the Lifetime Achievement award is for someone who has distinguished themselves over the course of their career in the Island's industry.

BUSINESS BUC