RenRe’s Currie named BII’s Industry Leader of the Year
RenaissanceRe chief executive officer Neill Currie has been named Industry Leader of the Year by the Bermuda Insurance Institute (BII).
Former American International Group legal counsel Michael Murphy was given the Lifetime Achievement Award, while Gavin Bishop of Validus Re and Vivienne Moniz of XL Group were joint recipients of the Young Industry Leader of the Year award.
The recipients of the BII's 13th annual awards will be officially honoured at at a gala dinner to be held on May 21 at the Fairmont Hamilton Princess.
In a statement yesterday, the BBI said Mr Currie had shown “exceptional leadership and service as an ambassador for both reinsurance and the Bermuda market.
“After co-founding RenaissanceRe in 1993 and assuming the CEO role in 2005, Neill successfully stewarded the Company through a period of intense catastrophic activity and financial market volatility, and recently led a strategic initiative that refocused RenaissanceRe where it excels: underwriting low-frequency, high-severity risks.”
Mr Currie represents the industry on a number of international boards, including the CEO Forum of the Financial Services Roundtable, the Geneva Association, and the Global Reinsurance Forum. He was also chairman of the 2010 World Insurance Forum in Bermuda.
“Both Neill and RenaissanceRe are established good corporate citizens of Bermuda, and have shown their commitment by employing and developing Bermudian talent, underwriting educational initiatives like the Company's Undergraduate Scholarship, and supporting training through industry groups like the BII and RAA,” the statement added.
Mr Murphy was a very influential figure in the Bermuda market for many years.
“Since 1970, Michael has been a pivotal thought leader who has offered his skills pro-bono to the Bermuda community,” the BII statement read. “His ideas, lobbying and endless hard work helped estalish some of the critical movements and decisions that led to the success of the Bermuda market, including the development of the captive insurance market in the 1970s, the creation of Bermuda's first insurance law in 1978, the ratification of the tax treaty with the US which led to the open exchange of financial information in the mid-1980's, the streamlining of US domestic tax legislation to minimise the number of separate US taxes being applied to American-owned foreign insurers that might be construed as doing business in the US, and the ongoing defence against US cross-border taxation.”
In 1982 he formed and managed the Association of Bermuda Insurers and Reinsurers (ABIR), and operated as CEO until 2005.
“Today, he continues to offer his pro bono services to the Bermuda Government, continue his significant work on behalf of Bermuda,” the statement added.
The Young Industry Leader award recognises an individual under the age of 35 who, over the previous year, has made a significant contribution to his/her own organisation, promotes professionalism, ethics and the development of talent and technical expertise, and focuses on achievement in both their career and in the wider community in Bermuda.
Mr Bishop is vice-president and controller of Validus Re, and heads the Finance and Operations Departments, overseeing a team of twenty people. He is a Chartered Accountant who joined the insurance industry in Bermuda in 2003. He completed his CPCU designation in 2006, and through continuous study has completed upwards of 12 additional insurance designations, including the ACII in 2010.
He is a former president of the Bermuda Chapter of the CPCU Society.
Ms Moniz is an excess liability underwriter for XL Insurance (Bermuda) Ltd. She is responsible for a portfolio of casualty insurance business. She chaired the Bermuda Healthcare Market Annual Education Lunch for the 2009 ASHRM Conference in Denver, Colorado and participated on the 2010 committee. She has been involved with BSHRM for several years, serving as the President-Elect during 2010 with plans to take over as President in 2011.
She is an active member of the Bermuda Chapter of the CPCU Society after attaining the CPCU and Associate in Claims designations. She has also volunteered for the Kaleidoscope Arts Foundation, Meals on Wheels and served as a mentor with YouthNet.
BII president John Wight congratulated the recipients and said: “The achievements of the 2010 Awards Recipients highlights the exemplary level of leadership and commitment to building a solid reputation of excellence in the Bermuda market, and to developing the talent required to support successful business development over the long term. The BII is pleased to recognise these individuals for their market leading contributions.”