Bermuda’s life reinsurance industry is doing more than expanding, it’s reshaping career narratives and driving economic diversification.

Once considered a niche segment in Bermuda financial services, life reinsurance has emerged over the past four to five years as a key pillar of the island’s economy. No longer overshadowed by tourism or property-catastrophe reinsurance, the sector is fuelling demand for talent across disciplines, from finance and law to compliance and actuarial science.

“I see the opportunity explode at maybe about four, five years ago,” said Alana Rathbun, chief governance, risk and compliance officer at Martello Re, a $30 billion life and annuity reinsurer, speaking at the Athene Life Career Expo on Wednesday. “The industry has created increased demand for professionals, whether it’s finance people, lawyers, compliance, actuaries, etc.”

Ms Rathbun joined Martello Re when it had only five employees and was the company’s first Bermuda hire. She recalled building its local presence from scratch. “That meant I went out and I had to find real estate for an office, I had to be the facilities manager, I had to order office supplies, you name it,” she said.

Christian Endter, chief executive of Catalina Life Re, came from a consulting background, though he also “worked in a coalmine” for a while. “In a fit of youthful enthusiasm, perhaps slight arrogance, I decided that I can do all of that myself better,” he said of founding his own firm before joining the sector. His path ultimately led to the restructuring of Old Mutual in South Africa.

Mellisa Burgess, deputy director, insurance supervision at the Bermuda Monetary Authority spoke of the personal growth the industry has catalysed in her life. “I would swear profusely if I had to be in the centre of the room speaking. It would be an out-of-body experience,” she said, reflecting on how her career helped her overcome deep-seated shyness.

Bermuda’s life reinsurance sector, they said, is attracting unconventional talent and helping it transform. “Talk to people. Talk to whoever is willing to talk to you,” Mr Endter advised. “You want to find something that is interesting to you.”