XL Re Ltd.'s assistant vice-president of operations Laurie Orchard has been appointed the Bermuda Insurance Institute's (BII) new president at the Annual General Meeting held this month.

Ms Orchard will serve a two-year term, having previously had a stint as vice-president, chairperson of the education committee and chairperson of the Bermuda Insurance Diploma Exam Committee.

She was also the joint recipient of the 2006 Young (Re)insurance Person of the Year Award.

Meanwhile, John Wight was elected vice-president and treasurer and Robert Stubbs was elected as Honorary Secretary.

Gerald Simons, immediate past president, said that the BII's leadership is in very capable hands under Ms Orchard's direction, as she is a very hard-working and capable individual.

Council members that were re-elected included Jennifer Farias, Wanda Mello, Maureen Nusum, Neal Southam and Richard Winchell. Newly-elected members were Chris Fisher, Roger Gillett, Carol Parker Trott and Cynthia Thomas. Ms Thomas also assumed the role as chairperson of the education committee.

Special mention was made of four council members who were stepping down after many years of dedication to the BII; Elspeth Brewin, Jonathan Beck, Joyce Duarte and Meredith Head. They were all thanked for their commitment and service.

The BII also revealed that it had a surplus of $151,891 for last year, a 45.5 percent rise over 2006, due to increased numbers and diversity of classes, workshops and seminars and improved profitability of events.

It said that test computers and Internet connectivity had been upgraded, part of the accounting function was outsourced and a new accounting package is planned for installation, while the growth in the volume of members using its services is placing a strain on the facility and staff of the BII, with a requirements review now underway to determine how to fulfill its needs before the facility lease expires in September 2009.

Other highlights included 1,144 students registering for insurance examinations, an increase of 37.7 percent over 2006, 107 students gaining insurance designations in 14 different areas of study, up by 12.6 percent over 2006, a total of 20 courses being taught with 351 students, an rise of 3.5 percent over 2006, and 35 seminars and workshops held with 1,123 attendees, an increase of 42.4 percent compared to the previous year.