Two young Bermudian insurance students recently returned from an eye-opening experience in the Chicago insurance market where they had the opportunity to see how insurance is written in a different market from Bermuda.

Ace Tempest Re interns Jonathan Ball and Duane Wilson participated in the Chicago Intern Programme offered by the Bermuda Foundation For Insurance Studies (BFIS) hosted by industry partners in Chicago.

“I think that seeing the Chicago insurance market has given me a different perspective of the reinsurance industry in Bermuda. I learnt to respect the value of relationships personally and on a business level which can make or break you,” Mr. Ball said.

“Business in Chicago and the US is a lot more cut-throat and aggressive and more business-oriented. I think Bermuda can be laid back which can be a good thing sometimes but from a business aspect I think being aggressive will benefit me in the long run.”

Mr. Ball, 21, is working with the international underwriting team at Ace Tempest Re and also with underwriting analysts, developing risk assessments and designing catastrophe models.

A BFIS scholarship student, Mr. Ball returns to Temple University earlier in the month to complete his degree in risk management and insurance and economics and is looking forward to graduating next year.

“Gaining international exposure of another another insurance market has been an invaluable experience,” Mr. Wilson said.

“This is important because you bring something else to the table, some people may or may not have here.”

Mr. Wilson, also 21 and a BFIS scholarship student, has been working with the underwriting team at Ace Tempest on catastrophe modelling and returned to Dalhousie University in this month to pursue a degree in science and economics.

He is also set to graduate in 2007: “In this industry you must have the ability to adapt and listen to what other people tell you and learn from that.”

Both men attribute the critical support and guidance of their parents in setting them on the path to success and having the maturity and determination to focus on their own goals of making a positive contribution to the community on their return to Island.