The Bermuda Foundation for Insurance Studies (BFIS), which gives out grants to Bermudans wanting to pursue a career in insurance, this week announced it has appointed Mark Lima as its new president.

The decision was made at a recent annual general meeting of BFIS' board of trustees under the guidance of chairman Brian R. Hall.

Also appointed was Preston Hutchings as deputy chairman and treasurer.

Mr. Hutchings, CFO at Renaissance Re, had previously served for three years as BFIS president.

Mr. Lima first joined BFIS as the ACE representative on the Steering Committee in 1997 and is senior vice president, ACE Financial Solutions International.

He joined ACE in 1990 as an underwriter in its Excess Liability Division and was promoted within this division to assistant vice president in 1993 and to vice president in 1995.

In 1997 he transferred to ACE's alternative risk transfer unit, the financial lines division (now named Financial Solutions International), and was appointed senior vice president in March 2000.

Mr Lima joined ACE from the Sedgwick group in London where he was involved with the broking of Aviation, Marine and Non-Marine business at Lloyds and in the London Company insurance market and consultancy work in the alternative risk transfer area.

A native Bermudian, Mr Lima began his insurance underwriting career in Bermuda with National Underwriters and has more than 16 years of experience in the insurance industry.

Mr Lima is an Associate of the Chartered Insurance Institute (ACII) and holds an MBA in Risk Management from the College of Insurance in New York.

Mr. Hall said: "I am delighted that Mark has taken on the responsibility of president.

"He has been a stalwart supporter and contributor to the running of BFIS and he will now be chairing the Steering Committee which manages BFIS."