14 December 2020ILS

Marsh provides first ILS Bermuda student internships

ILS Bermuda is providing funding for student internships and work shadowing opportunities with industry participants in a drive to provide work placement opportunities for students looking to gain experience in Bermuda's insurance linked securities (ILS) industry.

The first ILS internship programme involved students spending time working with Marsh Management Services (Bermuda) and Nicolas Plianthos, a senior vice president at Marsh. Students observed Marsh's accounting, underwriting and finance processes and helped analyse data from real ILS transactions.

ILS Bermuda said feedback from students has been overwhelmingly positive. “This has been one of the most interactive, immersive, and challenging internships I've experienced,” said one student involved in the internship. “From the various homework assignments on topics like the protection gap to listening in on actual calls about ILS transactions, this was a great learning experience for me.”

ILS Bermuda has partnered with the Bermuda College since 2017 as part of an education initiative to provide educational and work experience opportunities for College students. The aim is to expand awareness and knowledge of the alternative reinsurance and ILS industry.

LaVonne Smith, co-chair of ILS Bermuda education initiative, and senior vice president at ILS Capital Management, said: “ILS Bermuda is keen to involve and engage local students, mentor and encourage them, and provide opportunities to enter the ILS and the alternative reinsurance space. With access to these various education and development initiatives, students gain great exposure to and opportunities in an industry in which Bermuda is the world leader.”

Michael Coles, ILS Bermuda education co-chair, added: “We hope to offer more internship opportunities in the future with other local companies in the ILS industry.”