Roger Gillett has stepped down as chairman of the Bermuda Insurance Development Council (IDC) after 14 years in the voluntary role.

Mr. Gillett will be replaced by Allison Towlson, senior vice-president, regional executive for Ace Bermuda.

"I've done it for a long time and I've enjoyed it immensely and now it's time to give someone else the opportunity," Mr. Gillett said in an interview yesterday. "It's the right thing to do.

"From time to time, I think you need to change the head of an organisation to give it new energy."

Mr. Gillett has seen huge expansion in the industry since he took over as IDC chairman, as waves of new companies have set up on the Island to take advantage of market dislocations and the thriving captive sector has gone from strength to strength.

"It's been a tremendous ride," he said. "You will never see us claiming credit for the growth in the industry, but we are supporting everybody who is creating the growth."

Mr. Gillett will swap roles with Ms Towlson, taking her former post as chairman of the Bermuda RIMS (Risk and Insurance Management Society) Committee, a sub-committee of the IDC.

The IDC, which has been supported by Government as well as the private sector since its inception in 1990, is one of several sub-committees of the Bermuda Insurance Advisory Council (IAC).

Its chief function is to provide generic marketing support to the industry as a whole, promoting the Island as a leading captive insurance, commercial insurance and reinsurance centre.

Its Insurance Information Office serves as a clearing house for industry-related inquiries from overseas and serves to direct callers to the relevant people and organisations.

The IDC also organises Bermuda-related activities at the annual RIMS conference, produces the Bermuda Insurance Update newsletter and publishes Bermuda Market Solutions, which outlines the availability of insurance and reinsurance products in Bermuda.

IDC representatives also give the Island a physical presence at some industry conferences overseas in the form of the Bermuda booth.

"There are about two dozen regular volunteers who give their time to make these things happen," Mr. Gillett said.

"I'd like to see more volunteers get involved. The work of the committee is largely organising teams of people to do things for the general good of the industry.

"We ask people to take off their company hats and put on their Bermuda hats. We get great support from the industry. Whenever we ask for something, people provide it.

"They understand that it's about putting Bermuda in the best light. There's no jurisdiction than can a field a team like we can."

Mr. Gillett is the former president of Ace Risk Management International and has also served as president of the Bermuda Insurance Institute's governing council and as president of the Bermuda Insurance Management Association (BIMA).

"I saw volunteering for the IDC as a way of giving back to an island that has provided me with a fantastic life and career," Mr. Gillett said.

"When you volunteer for our committees, you will be spending time with a great group of people."