insurer, ACE Ltd., has taken over as president of the Bermuda Insurance Institute (BII). Mr. Lombardo, who has been with ACE almost since it began 11 years ago, today attends his first monthly meeting of the BII council as president, after serving on the board for several years, most recently as treasurer. His appointment came amid growing concern about the disproportionately high percentage of Bermudian women who have recognised the career opportunities available in international business, compared to local young men. One of the challenges likely to arise for the council over Mr.

Lombardo's two year tenure is determining how the BII can assist in counteracting that imbalance, and getting more young men to see the advantages and excitement of an insurance career. Mr. Lombardo is an example of a professional who recognised those opportunities, and an excess liability underwriter who has been moving up the corporate ladder. He was not available for comment yesterday. As the new BII president, he takes over from Sheila Nicoll, who has held the post for two years. She is a broker with J&H Marsh & McLellan, and had been vice president at J&H Internediaries before it was taken over by Marsh & McLellan. The BII is funded by its members, participants in Bermuda's insurance industry. Ms Nicoll said it would be important in the future for the BII to ensure that it was not operating in isolation, but rather in concert with other organisations that may have similar goals. She added: "The Bermuda market is very much a part of the global market. Although we may have thought in the past that we were immune from some of the things that happen elsewhere, I suspect the events of this year are teaching us that we are not. "It has not just to do with the consolidations in the industries, but also to do with the fluctuations in the market. The market is incredibly soft, on the casualty side, the D&O side and in a lot of other lines.

"Business that we might have thought would always come to Bermuda is now under competition from London and other domestic markets. We are all having to deal with that global competition.'' Ms Nicoll said that the BII responsibilities had grown tremendously in the last two years, especially its role in training and developing an insurance labour force for the future. The BII has more classes and better attendance at seminars than ever before. It has also launched its own web site and helped facilitate the establishment of a specialised Risk Management MBA degree programme in conjunction with the College of Insurance in New York and the Bermuda College. Ms Nicoll said, "Larry is a Bermudian who has really worked his way up through the industry.

When the first non-US chapter of the CPCU (Chartered Property & Casualty Underwriters) was formed here in Bermuda, he was the first head of it. He places a lot of weight and importance on education and always has. "He's very committed to helping young Bermudians. So I know he will continue to lead the BII in that direction. He has always been willing to take time out of his schedule to talk to and help young Bermudians. "And being at ACE, with their global perspective and successful moves at diversification, he will be able to ensure that the BII keeps up with the way the marketplace in Bermuda is changing. "That is one of our key challenges, to ensure that young Bermudians and others in our industry, are trained in areas they need to know about to be prepared for the future.'' PHOTO Larry Lombardo APPOINTMENT APP