Forty is the new 30 they say — at least for the newly rebranded Bermuda Under 40s Re/Insurance Group.

The group is growing out of the four-year-old Bermuda Under 35s but the new name is not just about ageing, it's about repurposing and expanding the networking non-profit's reach.

"Having incepted as the Bermuda Under 35s Re/Insurance Group in May 2004, we have now changed our name to align ourselves with the newly formed US group, The US Reinsurance Under 40s Group, Inc.," the Island's Under 40s announced in a press release. "We will work closely together to strengthen our ties and provide both groups with a transatlantic forum further to achieve our aims and create a global platform of educational and networking opportunities for our members."

The new chairman of the group Spencer Conway — who took over from Rachael Hayward just yesterday — said the group hopes the rebranding will boost its membership which, at the moment, hovers around 200 people. The group is steered by a ten-member committee and has an active year planned for its members.

Membership is not limited to those under age 40 — all are welcome — although committee members must be under that age. "Keeping it under 40 keeps us fresh," said communications officer Kayla Roberts. "Eventually we will all have to leave."

First up on the group's schedule will be the official relaunch event — a happy hour at Lemon Tree next Thursday from 5 p.m. to close. Mr. Conway said this is a perfect event for prospective new members to gain exposure to the group and hear about the events planned for the year and interesting opportunities the group provides.

Among those will be a London Tour from October 13-18, said Under 40s education officer Katie Tornari. At the moment the group has 17 people signed up for the tour which is intended to introduce members to the way in which the London market operates. Ms Tornari said employers have been very supportive of the tour and many are actually paying for their staff members to attend.

The tour will include events sponsored by Lloyd's of London, XL and Catlin as well as the opportunity to mix with member of London's Under 35s Insurance Group and experience visits with rating agencies. Ms Tornari said there is still space available on the tour and those interested are encouraged to contact coordinator Julia Mather (julia.mather@miller-bermuda.com">julia.mather@miller-bermuda.com).

In addition, the group offers various industry speakers throughout the year as well as quiz nights, wine tastings, golfing days, a debate and other mixers. The Under 40s quiz nights are often standing room only events, Ms Roberts said.

Key to building relationships with similar groups in London and the US is that it allows Bermuda's members to truly take advantage of global networking possibilities in their industry, Ms Roberts noted. "That way if they choose to move on from here, this gives them a network and opportunity," she said.

The Bermuda Under 40s' members already include young professionals from Bermuda and around the world working in this dynamic industry and the hope is to continue to grow. "We're trying to bring people together to network and learn about different relationships and what people are doing in the industry," said Mr. Conway.

• For more information on the Bermuda Under 40s Re/Insurance Group you can visit its website, www.bermudaunder40s.com. Tickets for next Thursday's relaunch party at Lemon Tree are $5 in advance or $10 at the door.