The biggest graduation of new underwriters in the history of the Bermuda Insurance Institute (BII) was on show at the Institute's Education Awards Lunch held at the Fairmont Hamilton on Friday.

Twenty-five students achieved their Chartered Property Casualty Underwriter (CPCU) designations, which they presented with along with fellow recipients of certificates from The American Institute for CPCU & The Insurance Institute of America, PLUS and The Chartered Insurance Institute.

A total of 105 students received 115 designations in six categories with fields ranging from Certificate in General Insurance, Bermuda Insurance Diploma, and Associate in Claims, Insurance, Accounting and Finance, Personal Insurance, Regulation and Compliance, Commercial Underwriting, Reinsurance and Risk Management, to CPCU, registered Professional Liability Underwriter, Certificate in Insurance, Diploma in Insurance and Advanced Diploma in Insurance.

The awards were presented by Julie Preece, director of education and training at the BII, following a speech from the Institute's president Laurie Orchard, who talked about the big factors impacting the insurance industry such as companies cutting back and juggling work and life on a personal and professional level, as well as commenting on the volume of students gaining their qualifications reaching a plateau this year.

But the main event prior to the awards ceremony was a keynote speech delivered by Scott Carmilani, CEO of Allied World Assurance Company, who spoke about a number of issues including everything from global interdependence to a single world currency.

He started by telling to the students to celebrate the moment of their important achievement, but added it was more important to focus on what they had learnt and how they applied their new skills at work in the future, before turning to the matter of an increasingly more linked up world.

"We are so much more globally interdependent than we have been before, both financially and otherwise, and that is not going to change," he said.

"That is going to be a trend that we should pay attention to in the future.

"Also, for the first time since the birth of the concept of the Euro currency, you are starting to hear about global leaders talking about a world currency.

"That has good and bad implications, particularly in terms of world trade, and it is something to really pay attention to going forward."

His last piece of advice to the students was not to rest on their credentials, but to further themselves.

"Make sure you are prepared to take active participation, seize those opportunities and go after the ones that are happening all around us, all the time," he said.

"Create your own story and don't wait for anyone else to make that story for you."