Bermuda industry veteran inducted into Insurance Hall of Fame
The International Insurance Society (IIS) has inducted Michael Butt OBE into its Insurance Hall of Fame.
Butt has contributed significantly towards Bermuda and its re/insurance industry, for which he was appointed as an Officer of the Most Excellent Order of the British Empire (OBE). He currently serves as the chairman for AXIS Capital and AXIS Specialty Holdings Bermuda, as well as non-executive chairman at AXIS Specialty.
He joined AXIS Capital as chairman in 2002, and he helped the company from a start-up to a significant player in the specialty re/insurnace industry.
Over the years, Butt has been the head of eight different companies, previously serving as chairman at The Association of Bermuda Insurers & Reinsurers (ABIR), chairman and CEO for Eagle Star Holdings, chairman at Sedgwick Group, chairman and CEO at Eagle Star Insurance, president and CEO for Mid Ocean and Trustee at Bermuda Institute of Ocean Sciences.
“We are immensely proud that our chairman, Michael Butt, has been named the 2019 Insurance Hall of Fame Laureate,” said Albert Benchimol, president and CEO of AXIS Capital.
“Michael has been instrumental in many of the important developments within the global re/insurance industry over the last 50 years, including the establishment of Bermuda as one of the world’s leading hubs for specialty risks. We are deeply indebted to Michael for his leadership at AXIS and his contributions to the global re/insurance industry, and congratulate him on this well-deserved honor.”
Butt will be honoured at the IIS Global Insurance Forum's Gala Awards taking place on June 20 in Singapore.
Other recently inducted laureates to the Insurance Hall of fame include Nikolaus von Bomhard of Munich Re, Stephen Catlin of XL Catlin, Brian Duperreault of AIG, Denis Kessler of SCOR, Shuzo Sumi of Tokio Marine and Ikuo Uno of Nippon Life.
