HILE many graduates are vacationing this summer, this year's Valedictorian for the New York-based College of Insurance, Gino Smith is not resting on his laurels.

Mr. Smith is about to embark on a two-year job based at Latin American Re, which is an affiliate of XL in Buenos Aires, Argentina. And he hopes the experience will greater enhance his understanding of the insurance field.

Mr. Smith has a bucket load of achievements and awards and before heading off to South America as the first Bermudian to be sent by an insurance giant, he spoke to The Royal Gazette .

Mr. Smith said: "Bermuda continues to play a major role in the Insurance Industry.'' He noted that two of the dominant figures on the Capital market right now are ACE and XL.

He believes Bermuda offers the perfect climate for international business to thrive in, having both a stable economy and environment.

With these key factors, international business and insurance will be around for the long run.

"Bermuda has a stable regulatory environment. As long as you have viability then there will always be a need for insurance. If anything insurance will converge with the financial markets.'' He added that all business support international business. One example of this would BTC diversifying and opening up to the Internet.

For young Bermudians the lure of the insurance field lies in the realisation that insurance world has some perks, much like the hospitality industry in its early days.

Mr. Smith warns that if people are in the business for financial gain, then they should take a good look at what opportunities are on offer.

"We need qualified Bermudians to enter the industry and fill the positions,'' he said. "People should study the careers that will provide them with a job.'' Mr. Smith believes that Latin America is one of the `fastest growing markets' and that is mainly why XL Capital is sending him there, to gain valuable experience of another market.

"I will be the first Bermudian to go,'' he added. "The company wanted to take advantage of my Spanish skills and unique education.'' Mr. Smith believes Latin America's growth comes as the areas is changing, moving away from naturalisation and more towards privatisation. And once the old systems are gone then it will be open Latin America to seeing its financial sectors expand even more.

"This is happening all across Latin America.'' he said.

Commenting on the Bermuda Foundations for Insurance Studies (BFIS) programme, Mr. Smith believes that it is a very rewarding experience, because of the interaction with mentors. He is also encouraging every student to find a mentor because the multiple rewards one can receive.

"Brian Hall, my mentor, has always made it a purpose to have a meeting with me every time that I was on the Island to discuss my career and he visited me while I was away in school.'' Mr. Hall was joined by Premier Jennifer Smith, the Presidents of both ACE and XL at the graduations for more than 12 Bermudian students from the College of Insurance. The programme has opened his eyes to a number of things and a number of people in the financial field.

He noted that he will continue with his schooling focusing on an MBA once his has completed his two years in Buenos Aries. And that he has also been given a scholarship by XL to help him complete his education. Smith is also the recipient of the Risk Management & Insurance Society's Spencer Scholarship.

In meantime Mr. Smith is setting his sights on Argentina and the tasks of understanding its emerging economy.

Opportunity knocks: Gino Smith who is heading for Argentina.