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Kelly: women leaders impact captive industry

Diversity topic: Katie Kelly, PwC Bermuda Captive Insurance director, has highlighted how organisations can help women to progress to leadership roles in the Captive insurance sector

Speakers from PwC Bermuda are taking part in panel discussions at the three-day Bermuda Captive Conference, which started today.

The event has attracted a record 845 delegates and is now in its 14th year. The theme this year is “Diversity — of risk, talent and products.”

David Gibbons, PwC Bermuda Captive Insurance leader, said: “In keeping with the theme, PwC subject matter experts will be taking part in panels that explore a diverse range of topics, including cyber-risk, tax reform and IFRS 17.

“We are also looking forward to the conference’s focus this year on the role of women in the captive industry, and what opportunities and best practices can help to ensure women rise through the ranks.”

Katie Kelly, PwC Bermuda Captive Insurance director, said: “It is clear that despite the small number of women in the highest positions in the captive insurance industry, evidenced by only around 20 per cent of the Captive Review’s “Power 50” list being female, women are having a significant influence on the industry in overall.”

Kathleen Bibbings, head of AIG’s Bermuda captive operations, was appointed president of the Bermuda Insurance Management Association last week, replacing Grainne Richmond.

At the Bermuda Captive Conference today, a panel titled “Women in the Captive Industry: Empowering Industry Awareness” features Stacy Apter, assistant treasurer at The Coca Cola Company, Laurie Forkas, senior assistant general counsel at Omega Indemnity (Bermuda) Limited and Sophia Greaves, director at Conyers Dill & Pearman.

Ms Kelly, who spoke with Ms Richmond, Ms Forkas, and Ms Greaves for an article in this month’s Captive Review Bermuda Report, said the women had each highlighted the role mentors and advocates had played in their personal development and career success.

Ms Kelly said: “Organisations can do a lot to help women progress and reach leadership positions, for example, by encouraging more open career conversations, mitigating the impact of any potential unconscious biases in decisions related to career progression, and explicitly setting uniform and transparent criteria by which employees are assessed. Providing advocacy and support programmes such as mentoring and sponsorship also helps greatly.”

She added: “PwC’s recent report, ‘Time to talk: what has to change for women at work’, reveals that only 51 per cent of women agree that employers are doing enough to progress gender diversity. Women are confident, ambitious and ready for what’s next, but our report found that many don’t trust what their employers are telling them about career development and promotion; or what helps or hurts their career.”

PwC Bermuda panellists at the captive conference, at Fairmont Southampton, include George Thomas, senior advisor, consulting, who will speak on cyber-risk; Sean Kelly, director, who will speak on IFRS 17 and US GAAP; and Scott Slater, tax partner, who will speak on the rapidly evolving tax landscape in the captive industry.

For information on the panels visit: https//bermudacaptiveconference.com/schedule2018