Bermuda has an untapped pool of talent that could strengthen the competitive advantage of the island’s re/insurance industry, according to a young actuary.

Busayo Salawu, 25, an actuarial analyst at life reinsurer Somerset Re, said high school students needed to not only be more aware of the opportunities in international business, but also to visualise themselves in the industry.

Ms Salawu completed an Associate’s degree in actuarial science as a dual-enrolment student at Bermuda College, while still a student of The Berkeley Institute. She went on to earn a Bachelor of Science degree in economics and actuarial science at the University of Southampton, in Britain.

However, even more than the qualifications she has earned, Ms Salawu believes the head start she got from work experience in the financial services sector from her mid-teens — and the mentors she encountered along the way — has got her career off to a flying start.

And she would like to see more high-school students gaining similar exposure.

“When I look at the industry, I see this incredible expertise and opportunity, but I also see talented young people just slipping through the gaps, because they don’t know the opportunities that exist, and if they do, they don’t have the opportunity to really gain that foundational exposure,” Ms Salawu said.

“The problem isn’t talent — Bermuda has a lot of it. The problem is visibility and access, because the reality is raw talent exists, and I think that young Bermudians really are the untapped resource that could strengthen our competitive advantage.

“If we can build mentorship programmes that start in high school, we can create a pipeline of local talent that strengthens our industry and our community, because people need to see themselves in the industry. And I truly believe that visibility drives belief.”

Starting early is key — and Ms Salawu made that happen for herself when she knocked on the door of global professional services firm KPMG when she was 14.

That led to her shadowing staff at KPMG, an experience that built up her awareness, knowledge and network. Through the Bermuda Foundation for Insurance Studies, she was placed on internships with Arch Re during her university years. Stints with Monument Re and some time as a consultant followed before she joined Somerset Re two years ago.

She said at Somerset Re, her professional development has been helped by broad exposure to the operations and decision-making processes of the business. This has included access to senior leadership, facilitating client introductions and being immersed in conversations about company growth.

“That level of exposure has completely shifted how I see the industry, and that is a very clear example of what happens when talent is recognised and given early access,” Ms Salawu said.

“It accelerates development in a way that traditional paths simply can't. What we need is diverse perspectives, diverse skills and diverse backgrounds. That is how we change the future. It starts now.”

Her passion for attracting and developing young Bermudian talent is evident. Her company has given her the chance to put that into practice by allowing her to manage the internship programme at Somerset Re.

“The programme was designed to go beyond exposure and actually help them understand how to navigate the industry and where they could fit within it, because exposure alone isn’t enough,” Ms Salawu said.

“Understanding builds confidence, and clarity is what turns interest into intention. That is how we create long-term growth in our industry and maintain our position as one of the strongest reinsurance markets in the world.”