The former chairman of Ace Bermuda is to be honoured with a lifetime achievement award by the Bermuda Insurance Institute.

Rees Fletcher, who retired from the firm, now Chubb, last year, spent more than 30 years in the industry and was the first Bermudian to be appointed president of Ace Bermuda in 2004.

And Bradley Kading, president and executive director of the Association of Bermuda Insurers and Reinsurers has been honoured with the Industry Leader of the Year award.

Kevin O’Donnell, president and CEO of Renaissance Holdings and chairman of Abir, said Mr Kading had been a major contributor to the Bermuda reinsurance market’s success since assuming leadership of Abir in 2005.

He added: “Over this time Brad has helped us navigate through political and regulatory changes worldwide, achieve Solvency II full equivalency and build Bermuda’s brand as a world-class jurisdiction that meets or exceeds the highest standards of oversight, co-operation and transparency.”

Mr O’Donnell said: “All Abir members owe Brad a debt of gratitude for his many achievements. Moreover, as reinsurance and related activities help to drive Bermuda’s economic prosperity, it is fitting for Brad’s commitment and contribution to the island generally to be recognised by one of its leading institutions.”

The BII also named Jamie Botelho as its Young Industry Leader of the Year.

Mr Botelho, a qualified actuary, is senior vice-president and head of pricing at Validus Re.

He said: “I am proud to represent the Validus Group, a company that strives to achieve superior analytical capabilities in all areas in which it operates. That has enabled me to grow professionally and allowed me to contribute meaningfully to its success.”

Mr Botelho is also active in the Bermuda Foundation for Insurance Studies and is a former BFIS scholarship winner.

He said: “I firmly believe that attracting and nurturing students into careers in insurance and reinsurance benefits Bermuda immensely and will remain committed to education throughout my career.”

Tokio Millennium Re was awarded the Corporate Social Responsibility Award for its volunteer and charity work, which includes support of Meals on Wheels, the SPCA and Greenrock’s Eco School project.

In addition, the TMR donations committee has partnered with a variety of organisations, including Family Centre, WindReach, Big Brothers Big Sisters and the Reading Clinic.

The BII gave it’s Top Corporate Sponsor Award to Ariel Re, a member of the Argo Group, for its support of the organisation over the last year.

Dawnelle Walker, CEO of the BII, said: “Each year the BII shines a spotlight on individuals and organisations from the insurance and reinsurance industry that exemplify professional and community excellence. We are pleased to celebrate this year’s winners.”

The awards will be presented at a special ceremony on Thursday, May 18 at the Hamilton Princess, with the keynote address delivered by Governor John Rankin.

Tickets for the event can be bought by contacting the BII at 295-1596 or can be reserved online at www.bii.bm