Institute and now an executive vice president at leading Bermuda insurer ACE Insurance Company Ltd., was published in The Royal Gazette in July, 1997.

Bermudian Larry Lombardo, senior vice president at Bermuda-based insurer, ACE Ltd., has taken over as president of the Bermuda Insurance Institute (BII).

Mr. Lombardo, who has been with ACE almost since it began 11 years ago, today attends his first monthly meeting of the BII Council as president, after serving on the board for several years, most recently as treasurer.

His appointment came amid growing concern about the disproportionately high percentage of Bermudian women who have recognised the career opportunities available in international business, compared to local young men.

One of the challenges likely to arise for the council over Mr. Lombardo's two year tenure is determining how the BII can assist in counteracting that imbalance, and getting more young men to see the advantages and excitement of an insurance career.

Mr. Lombardo is an example of a professional who recognised those opportunities, and an excess liability underwriter who has been moving up the corporate ladder.

As the new BII president, he takes over from Sheila Nicoll ( See story on next page ), who has held the post for two years. She is a broker with J&H Marsh & McLellan, and had been vice president at J&H Intermediaries before it was taken over by Marsh & McLellan.

The BII is funded by its members, participants in Bermuda's insurance industry.

Ms Nicoll said: "The Bermuda market is very much a part of the global market.

Although we may have thought in the past that we were immune from some of the things that happen elsewhere, I suspect the events of this year are teaching us that we are not.

"We are all having to deal with that global competition.'' Ms Nicoll said the BII's responsibilities had grown tremendously in the last two years, especially its role in training and developing an insurance labour force for the future. The BII has more classes and better attendance at seminars than ever before.

Ms Nicoll said: "Larry is a Bermudian who has really worked his way up through the industry. When the first non-US chapter of the CPCU (Chartered Property & Casualty Underwriters) was formed here in Bermuda, he was the first head of it. He places a lot of weight and importance on education and always has.

"He's very committed to helping young Bermudians. So I know he will continue to lead the BII in that direction. He has always been willing to take time out of his schedule to talk to and help young Bermudians.

"And being at ACE, with their global perspective and successful moves at diversification, he will be able to ensure that the BII keeps up with the way the marketplace in Bermuda is changing.

"That is one of our key challenges, to ensure that young Bermudians and others in our industry, are trained in areas they need to know about to be prepared for the future.''