A Bermudian rising star in the reinsurance industry has been honoured with a prestigious global award for his work.

Gino Smith, an assistant vice-president and underwriter at XL Re, was presented with the Future Industry Leader award at the World Reinsurance Awards, which were held in London earlier this month.

It is believed this is the first time a Bermudian has won such an honour at the awards, which are organised by The Review — Worldwide Reinsurance magazine and have been taking place for 15 years.

"His intellect, knowledge and leadership abilities, combined with the desire to educate and distinguish himself from his peers should provide for his continued success as both an insurance professional and a positive role model," said Greg Dobie, editor of The Review, of Mr. Smith's accomplishment.

Recipients of the awards are chosen from entries taken from around the world and are adjudicated by a judging panel which this year included John Berger, chief executive officer of Harbor Point Re; Peter Grove, chief underwriting officer of QBE Europe; Julian James, CEO of Lockton International; John Tan, CEO of Asia Capital Re; Ian Dilks, global insurance leader of PricewaterhouseCoopers; Geoff Bromley, vice-chairman of Aon Re Global; and many more, the magazine said.

Mr. Smith was the unanimous choice for the Future Leader award. "As the judging panel recognised, Mr. Smith has done much to distinguish himself as an insurance professional and has raised the bar for young professionals," the magazine said in its full page profile of him. "His broad educational and international experience has fuelled his own interest to promote similar opportunities for other Bermudians."

Yesterday Greg Hendrick, president and chief underwriting officer of XL Re said Mr. Smith is valued both for his talents and his ability to inspire. "Gino has a bright future at XL Re Ltd, and we are proud when others in the industry recognise his potential," he said. "He is but one example of young Bermudians in this industry who are striving to be their very best. We hope that Gino's story and example will inspire and motivate others. I congratulate him on this achievement and look forward to seeing his career continue to develop."

The 32-year-old executive is twice honoured this year, having taken home the Bermuda Insurance Institute's Young (Re)insurance Person of the Year 2007 award at a ceremony in May.

He is a graduate of Berkeley Institute, Bermuda College, Don Quijote Instituto de Idiomas in Spain and the College of Insurance in New York. He is fluent in Spanish and Portuguese, having worked for XL Re Latin America for three years in Argentina, Mexico and Colombia.

At XL Re, his is primarily responsible for underwriting property catastrophe reinsurance treaties.

"I am deeply humbled in receiving this award and pleased to accept it on behalf of XL Re Ltd and the Bermuda market," Mr. Smith said yesterday. "Recognition of talent within the Bermuda insurance market, at an industry renowned event of this magnitude, is further evidence of the impact that Bermuda continues to have on the global (re)insurance market."

Other award winners at this year's gala, held at London's Dorchester Hotel on September 3, included Hannover Re for Reinsurance Company of the Year for the fourth time.

The German company, which has an office in Bermuda, also saw its CEO Wilhelm Zeller collect a Lifetime Achievement Award.

The awards will be fully featured in the upcoming October issue of The Review.