Influential Women in Hamilton: Carmen DeSilva
Ongoing disparity in diversity, particularly at the C-suite level, highlights that while there has been progress at junior and middle levels, more work is needed to achieve true representation in senior leadership, says QBE VP specialty underwriter.
Carmen DeSilva, VP specialty underwriter at QBE Re, has had a multifaceted background. She began her career as an audit senior at KPMG in Bermuda before moving into financial accounting and reporting and then reinsurance underwriting.
Give us a snapshot of your career to date
I have had a varied career. I started as an audit senior for a public accounting firm auditing local businesses that ranged from hospitals, schools and large distribution companies to international reinsurance companies and captives.
My transition from the world of financial reporting began at a Platinum Re where I made the leap from being “back office” to “front office”, which I felt would be a better fit for me. It was an uphill climb, but one certainly worth taking.
Since then, my time as an underwriter has given me numerous opportunities across a broad suite of products. My experience ranges from property treaty, portfolio management, strategic management coordination and now specialty and workers’ comp cat underwriting at QBE Re.
Who inspired you or acted as a mentor in your career?
I’ve never had a formal mentor and often wondered where I’d be if I had. There were not a lot of women in senior positions in the industry when I began my career, and those there were busy fighting for their own seat at the table. I can say there is a handful of women whom I have reached out to for the occasional coffee or shoulder to cry on. I hope they know who they are.
“A generational shift is taking place, which will change the way our industry operates and thinks”
Do you feel the re/insurance industry has made progress in terms of diversity and inclusion since you entered it?
I believe the industry has tried to make progress in this area, but we still have quite a way to go. Overall, we do have a much more diverse and inclusive workforce at junior and middle levels within organisations; however, there is less diversity the closer you get to the C-suite positions.
Is there anything in the industry you would like to improve or change?
Renewal dates – it would be nice not to think about them over Christmas! I’m kidding, of course (kind of). But on a more serious note, I think as an industry, we are at a turning point. We are seeing a large wave of people reaching retirement age and an equally large wave of new entrants to our workforce; however, there is a shortage of talent at management levels. There is also a generational shift taking place, which will change the way our industry operates and thinks. Working for a company such as QBE Re makes me proud because we have a strong corporate DNA that really is a part of everything we do as a team and a company.
Have you encountered any challenges related to diversity and inclusion?
Too many to mention, but I’m so pleased that fewer people seem to be facing the same challenges at the start of their careers.
Why is this industry great to work in?
It might sound like a cliché, but honestly, it’s the people. Providing support when people need it most is at the heart of what our industry does. I’m proud that I can play a part in that.
Why is Bermuda a great place to be?
Bermuda is my home, and my family has been here for eight generations. I’m very fortunate to have such a rewarding career in the country where I was born. Apart from being one of the most beautiful places on earth, Bermuda is a melting pot of cultures, food, and ideas. It is still a very safe place to live and offers a sense of community not found in a lot of major business hubs.
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