The children are our future
For Bermuda, establishing itself as a leading international jurisdiction for business, and particularly for the re/insurance industry, was a major achievement. Having secured that position, maintaining it requires just as much hard work and dedication.
Bermuda has many rivals, both near and far, that eye its business hungrily and are working hard to win its business to their own shores. Staying ahead requires it always to be responsive to the changing demands of business and never complacent.
A big part of that challenge involves ensuring Bermuda can provide businesses with the human capital needed to operate at the highest level. While some employees will always move to new locations for work, the most competitive business jurisdictions provide the local talent firms need.
Understanding that fact has been central to Bermuda’s success—and honouring that success is what Rising Stars is all about.
If anything, the issue is becoming more pressing with each passing year. There have always been retirees, and a need for young blood to come through to replace them. But the forces of demographics have launched this issue to the top of many corporate agendas, with a large proportion of the workforce now approaching retirement age.
The need for well-educated, motivated and capable youngsters has never been greater. Demand will keep increasing as baby-boomers continue to hang up their boots and take to their gardens and the golf courses to enjoy their well-earned retirements.
Bermuda is in a good position to meet that demand. It has numerous top-quality schools and colleges which provide a world-class education to a generation of intelligent, confident and eager young Bermudians.
Perhaps the bigger challenge facing the re/insurance and risk management sector is how to appeal to a new generation of prospective employees and convince them this industry can help them achieve their career goals.
For millennials, that means not only competitive remuneration and opportunities for advancement. It means fulfilling, intellectually stimulating work. And it often means employment that contributes to some greater societal benefit, whether that is mitigating the impact of climate change or addressing rising inequality.
Here again, Bermuda is ahead of the curve. Its re/insurance community has been proactive in fostering close links with the Island’s schools, ensuring it can clearly communicate why this industry satisfies all these criteria.
Bermuda:Re+ILS has profiled a number of the highest flyers coming through Bermuda’s most prestigious academic establishments. As always, reading through these profiles is an inspiring and uplifting experience that will assuage any concerns industry bosses might have about the local talent pool available to them. If these are the leaders of tomorrow, the re/insurance industry will be in good hands.