A first organisation for actuaries working on the island has launched.

The Actuaries Club of Bermuda held its first event at the Royal Hamilton Amateur Dinghy Club, marking a significant milestone in the history of the island's actuarial community.

The club said it aims to bring together actuaries from different areas of practice and varying levels of experience to create a community of learning, networking and professional growth.

Organisers say the inaugural event attracted a diverse group, including life and P&C actuaries, underwriters, students, and executives.

The diversity of represented institutions was substantial with each of the main actuarial organisations in the United States, Britain, Ireland and Canada represented.

The event was the brainchild of Sylvia Oliveira, chairwoman and CEO of Wilton Re Bermuda, and organised by Hannover Re's Ciara Izuchukwu and Taiyana Allen of Wilton Re.

Ms Oliveira said: “Since first moving to Bermuda over 20 years ago, it’s been an aspiration to create a platform where all members of the actuarial community can learn, connect, and grow together.

“I was overwhelmed to see over 50 participants, with so many new faces, attend our kick-off event!”

Nick Hoskins, a Bermudian student preparing for his first actuary exams, said: “The opportunity to network with experienced professionals and newcomers alike has been an invaluable experience.”

The first club meeting was sponsored by Cactus Ltd, a technology firm headquartered in Bermuda solving the prickly problems of insurance and reinsurance.

Organisers noted the level of enthusiasm at the first event, with dozens of people volunteering to join the organising committee.

One actuary offered to assist Cactus founder James Robinson in expanding the society’s exam club to cover Exam FM.

The club said it looks forward to further building its community and contributing to the advancement of the actuarial profession in Bermuda.

Aspiring members can sign up to the e-mail list by e-mailing their name and company to join@actuariesclubbda.com.