Grainne Richmond has been appointed the new president of the Bermuda Insurance Management Association (BIMA), following the group’s Annual General Meeting (AGM) this month.
Richmond takes over from Robert Paton, executive vice president at Aon Risk Solutions, who served a two-year term as BIMA president.
“The role of president is a great responsibility, but also a great opportunity to continue working with government, the regulator, and a wide range of industry bodies to assist in ensuring a strong future for the Bermuda captive insurance industry,” said Richmond, who is vice president of Dyna Management Services, a Bermuda-based insurance management company.
She added: “I am very honored to be elected president of BIMA and acknowledge the important trust the executive and membership have placed on me in appointing me in this role. Thank you, also, to Rob Paton, whose dedicated work over the past two years have served BIMA well.”
A chartered accountant, Richmond has worked in accounting and insurance since 1996. She joined Dyna in 2011, having previously worked in Bermuda in the area of captive insurance management and fund administration. Her prior experience includes positions with Artex Risk Solutions (Bermuda) and International Advisory Services (now Marsh IAS). Previously, she worked in Ireland with PriceWaterhouseCoopers and Deloitte.
Richmond added: “I look forward to continuing and building on the great work and initiatives started by my predecessor, Rob, including working with BIMA membership and liaising with the BMA on initiatives impacting the captive industry, both here in Bermuda and abroad.
“We’ll also be lending support to the Bermuda Business Development Agency (BDA) on jurisdictional advocacy overseas, helping to spread the message that ‘Bermuda is Different’—that Bermuda is a blue-chip domicile known for robust regulation, transparency and compliance."
Richmond also said she hopes to inform and educate people on the island about the important role the captive insurance industry has in Bermuda—and encourage more young Bermudians to step into this space.