Thomas McMahon was today awarded the 2026 Fred Reiss Lifetime Achievement Award, recognising his outstanding contribution to Bermuda's captive insurance industry.

Presented annually at the Bermuda Captive Conference, the Fred Reiss Lifetime Achievement Award is the highest individual honour bestowed by the Bermuda Captive Network.

Mr McMahon received the award at the start of the second day of the conference at the Hamilton Princess and Beach Club.

Named after captive insurance pioneer Fred Reiss, the award recognises individuals whose vision, commitment and leadership have left a lasting impact on Bermuda's position as a global leader in captive insurance.

Mr McMahon’s career spans more than three decades in captive insurance and risk management. He is executive vice-president of Davies Captive Management Bermuda.

Since entering the industry in 1994, Mr McMahon has played a pivotal role in the formation, management and evolution of captive insurance companies across a wide range of sectors and structures.

Throughout his career, Tom has been a passionate advocate for Bermuda's captive industry, dedicating countless hours to industry organisations, regulatory consultation and international business development efforts.

In a statement, conference organisers said: “A past president and secretary of the Bermuda Insurance Management Association, Tom has long been a respected voice within the captive community.

“He has also served as chairman of the Bermuda Captive Conference, helping guide the event through periods of significant change and ensuring its continued success as one of the industry's leading global gatherings.

“His contributions extend well beyond Bermuda. Tom played an important role in industry engagement with European regulators during the development of Solvency II, helping ensure that the unique nature of captive insurance companies was properly understood and recognised within evolving international regulatory frameworks.

“His efforts helped preserve a regulatory environment that supports the continued growth and success of Bermuda's captive sector.”

Mr McMahon has also promoted Bermuda internationally, representing the jurisdiction at major captive industry events.

“Tom embodies everything this award represents,” said Gráinne Richmond, president of the Bermuda Captive Network.

“For more than 30 years, he has quietly and consistently dedicated himself to the advancement of Bermuda's captive industry. His technical expertise is second to none, but what truly sets Tom apart is his willingness to share that knowledge, mentor others and always put the interests of the industry first.

“Many of us have found ourselves in a meeting or discussion where, at some point, somebody inevitably says, ‘Let's just ask Tom.’

“That speaks volumes about the trust, respect and confidence he has earned throughout his career. Bermuda's captive community is stronger because of his leadership, and we are delighted to recognise his extraordinary contribution through this year's Fred Reiss Lifetime Achievement Award.”

Beyond his professional achievements, Tom is widely recognised as a mentor, adviser and trusted friend to many within the industry. His thoughtful approach, integrity and commitment to supporting others have helped shape the careers of countless professionals across Bermuda's insurance market.

The team at Davies Captive Management Bermuda were equally enthusiastic about the recognition.

“We are absolutely delighted that Tom has been recognised with the 2026 Fred Reiss Lifetime Achievement Award,” said colleagues at Davies Captive Management Bermuda.

“Few individuals have contributed as much to Bermuda's captive industry over such a sustained period of time. Tom's leadership, professionalism, technical excellence and generosity have influenced not only our organisation, but the wider captive community. This recognition is richly deserved, and we could not be more pleased to see him honoured by his industry peers.”

The Fred Reiss Lifetime Achievement Award has previously been awarded to some of the most influential figures in Bermuda's captive insurance history, including the late Leslie Robinson and Bala Nadarajah, Eduardo Fox, Cyril Whitter, Cathy Duffy, Jeremy Cox, Brian Hall, Michael Burns and Jill Husbands.

Mr McMahon now joins this distinguished group of industry leaders whose contributions have helped shape Bermuda's captive insurance sector and strengthen its position as one of the world's leading captive domiciles.

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