A prominent chartered accountant who held a leading role at one of the island’s top insurance firms was a popular figure in Bermuda’s business community.

David Pugh, who left the Argus Group in 2016 after 33 years with the company, also shared his expertise in a variety of roles outside business.

Alison Hill, the chief executive of Argus, called him “a cornerstone of our Argus family and the embodiment of the power of commitment, dedication, kindness and connection”.

“He navigated business with a no-nonsense approach, while always putting people first, welcoming everyone with genuine warmth and joy.”

She added: “He was more than a trusted colleague; he was a cherished family member, always advocating for Argus, even in retirement.

“As we mourn his loss, our thoughts remain with his wife, Trudi, and his entire family. David's legacy will forever be memorialised in the long and successful history of Argus."

Mr Pugh retired this year from Bermuda Aviation Services after seven years as chairman of its board. He served on the BAS board for 12 years.

The company’s board and management team told The Royal Gazette that it was “profoundly saddened by the unexpected passing of our former chairman”.

“David played a pivotal role in guiding the company through challenging periods, always maintaining a positive outlook.”

BAS said that Mr Pugh “made it a point to establish connections with all employees and actively participated in committees dedicated to the company's best interests”.

“David established relationships with the Bermuda business community that were both engaging and insightful.

“His absence will be deeply felt by the company and those who had the privilege of knowing him.”

Mr Pugh was also a director and chief financial officer for the Bermuda Hospitals Charitable Foundation, and a member of the Bermuda Hospitals Board.

Matthew Pifer, the chairman of the BHB, said that the group was “greatly saddened by the death of David Pugh, who has been a friend and valued adviser to BHB for eight years”.

“David first served as a co-opted board member beginning in 2015, serving on the finance and audit committee, and was elevated to a full board member in 2022, after which he became the chair of that committee.”

Mr Pifer said Mr Pugh had “given so generously of his time and his expertise to assist BHB”.

“His role on the Bermuda Hospitals Charitable Foundation meant that he helped us in many other ways as well. He was a mentor to many at the BHB.

“We will miss his wisdom and his presence, and will be forever grateful for his contribution. Our hearts go out to his family and loved ones at this sad time.”

Mr Pugh was widely known as an influential chief financial officer at Argus, and remained with the company as a special adviser after passing on the role to his successor, Peter Dunkerley.

He was credited with leading the insurer’s expansion into Europe, and known for building good relationships with Argus’s clients.

On the cusp of retirement, Mr Pugh recalled becoming intrigued with Bermuda after learning of the island as a young executive for PwC in Eastbourne on the south coast of Britain.

He worked next at Thomson McLintock, a London-based accounting firm.

Mr Pugh got his chance to live and work in Bermuda on the day he turned 32.

He came to Argus in 1983, working with the company’s treasurer as part of a six-month contract as a temporary accountant.

It turned into decades, coinciding with an era of soaring growth for the insurer in tandem with the boom years of international business.

Mr Pugh was appointed CFO in 2004.

Argus was hit badly in the financial crisis of 2008 with its $260 million in capital tumbling to $82 million by 2011.

The Argus team rallied in an office Mr Pugh dubbed the Bunker, and he credited their teamwork with turning the company around.

Mr Pugh believed that work should also be enjoyed, telling students at Bermuda High School in 1993 when he pitched in for an entrepreneurship programme: “One of the things I've learnt from being a part of this enterprise, and it's something you tend to see overlooked in the real world of business — that it's supposed to be fun.”

At Argus, he was involved in all aspects of the company’s operations.

Mr Pugh gladly shared his skills outside the corporate world, helping to launch the Crime Stoppers Bermuda service in the 1990s.

He served as the independent service’s treasurer and ultimately its chairman — looking on the work as a civic duty.

Mr Pugh was part of a generation of executives who helped to sell the Bermuda brand as international business grew into the mainstay of its economy, calling the island a “Rolls-Royce financial centre”.

He is survived by his wife, Trudi Pugh, who taught at Mount Saint Agnes Academy.

The couple have three children: Christopher Northrup, Meredith Pugh and Thomas Pugh.

• David William Pugh, a top business figure in Bermuda and former CFO at the Argus Group, was born on January 22, 1951. He died in October 2023, aged 72