The Bermudian who has chaired the government advisory committee that has overseen Bermuda's development into a global insurance power has resigned.

But Brian Hall is not stepping down after more than a decade as chairman of the Insurance Advisory Council (IAC) because there is a new Government.

He had quietly tendered his resignation at the end of September, even before the date of the election was set.

It takes effect at year's end or at the discretion of the Minister of Finance.

Mr. Hall has made a recommendation for his successor.

The IAC provides counsel from the insurance and reinsurance industries to at least two Government Ministries and three regulatory bodies that oversee issues pertaining to the industries.

Asked yesterday if the next chairman must be a Bermudian, Mr. Hall hesitated, pensively, as if seeking time for a measured response.

After a pause, he said, "I don't think being Bermudian or not is as important as having had a good length of service in Bermuda, so that one appreciates the Bermuda environment, and the Bermuda industry.

"There is a need to project Bermuda's unique capabilities. Our industry leaders are visible around the world. They transact business around the world.

"The way they do business is clearly a reflection of the character of our country and we must support these initiatives. There has to be a sensitivity to the dynamics of our Island home.'' His reason for quitting the key panel is integral to Bermuda's rapid metamorphosis from a leading, yet sleepy, captive insurance domicile into a diverse provider of sophisticated and innovative insurance and risk management solutions.

Mr. Hall, 57, conceded yesterday that after retiring from the day-to-day of the industry 16 months ago, it is difficult to keep track of the breakneck pace of new developments.

It is not surprising, especially in light of the extremely demanding work of the committee and its chair.

Even with his 40 years of industry experience, it would be difficult to remain abreast of today's insurance and reinsurance markets, with the myriad of increasingly complex issues.

Just to stay current, one has to be an executive active in the industry and exposed to the daily sources of global business information.

Mr. Hall said, "Since retiring, I don't have the news feeds or the environment to keep track. Going into the office daily, one had more direct access to industry information. Anyway, the time has come to move on.

"Bermuda business has become very, very sophisticated. The convergence of the financial and insurance sectors is upon us.

"Oh, I have a wonderful network within the insurance industry, but I feel that the time has come to devote my future to educational things, rather than industry matters.'' He began serving on the IAC soon after it was instituted under the Insurance Act of 1980. He joined about a year later. By 1985, he was chairman and immediately set about the task of redefining its role.

Although he cites extreme fortune at having "a first class committee'' as the reason for the success of the IAC, Mr. Hall has long been known as a chairman who expected active committee members. That was the case no matter what committee or board it was.

Without any real fanfare or the knowledge of many Bermudians, the IAC has been a key player in helping guide Government past many potential pitfalls, during the growth of a prosperous industry.

There have been some disappointments, but far more successes, as the IAC worked with established regulators, as a pseudo-regulatory body, itself.

Over the years, it developed good working relationships with the Bermuda Monetary Authority, the Registrar of Companies, the Ministry of Finance and officials at Home Affairs and the Attorney General's Chambers.

Any new chairman of the IAC, will be stepping into an institution that Mr.

Hall has virtually defined.

It currently consists of 14 appointed members, plus representatives from the three regulators, as ex officio members.

When Mr. Hall took over in 1985, it represented 72 private sector delegates, with a committee and sub-committee structure of complex proportions.

He recalled: "I came up with an action plan, and a structure for the IAC that had about 12 members on the main body, together with a few other members in the sub-committees.

"The structure has served us well. We have a representative from each sector of the industry -- a captive manager, a broker, underwriters, an actuary, an accountant and special people who bring certain types of expertise and experience to the table.

"We created the marketing committee (which markets the Island) in the eighties. The people on that committee are not members of the IAC, per se.

"The people on the insurance admissions committee (which vets all insurance company incorporations) are also not required under the Insurance Act to be members of the IAC, but we do have a representative of the admissions committee serving on the IAC.'' Mr. Hall is chairman of the Bermuda Foundation for Insurance Studies, a foundation he established to help provide Bermudians with educational opportunities that would prepare them for rewarding insurance careers.

The Foundation is building a war-chest of $7.5 million through accepting contributions from corporate and private donors who stand behind the concept of opening for young people the doors to challenges in insurance.

Mr. Hall remains president of Inter-Ocean Management Ltd., but retired at the top of global captive manager and broker, Johnson & Higgins' Bermuda office, as J&H was being swallowed up by competitor Marsh & McLennan in 1997.

The only non-American director of J&H, he was lucratively involved in the company's sale after a highly successful and lengthy career.

Last year he became chairman of the Board of Governors of the Bermuda College, and in that regard, he has been active.

Brian Hall