Log In

Reset Password
BERMUDA | RSS PODCAST

Pulling together as a team for Bermuda: Report from RIMS

SAN FRANCISCO -- Each year, organisers of the Bermudian contingent to the RIMS Conference has grown, as more and more companies understand the benefits of attendance.

And as one moves through the maze of 360 exhibits across 220,000 square feet of booth space at San Francisco's Moscone Center, the Bermuda presence is noticeable.

Take Insurance Advisory Comittee (IAC) member, Mr. Anthony Joaquim, who spends time on the Bermuda booth, but who also can be seen answering questions at the Ernst & Young booth where he is a partner.

The former Companies Inspector said: "I try to spend time on the Ernst & Young booth and work with that team. It does a couple of things. Number one, it gets me involved in what the guys in various areas are doing.

"None of them are accountants. They are all risk managers and actuaries. It gives me a chance to network with them, dialogue with them, put names to faces, and to find out what people are doing, what products are out there and how we (the Bermuda office of Kemp & Whittle) fit in from the Bermuda context.

"I basically did it by osmosis. I've been coming to RIMS for about seven years, since I was with Government. When I joined Ernst & Young I continued to come because I still had my IAC involvement. And slowly, I got to know the guys and put some time on the booth, to the extent that now 90 percent of the time I spend here is on the Ernst & Young booth. It is quite valuable.

"It is always a worthwhile exercise. At the end of the day, we have to all be a part of the overall Bermuda effort.

"But Ernst & Young is my day to day focus and it is important to build a global relationship. You may have a client here in the US who wants to do something with regard to insurance outside my area. I know the guys I can pick up a telephone and call.

"If they have a client who is looking to do something offshore and they need information or something done, they know me.

"It's instant contact, it's global, its important. I've done that constantly and now it is a major part of what I do at RIMS.'' As an insurance audit partner, 95 percent of the chartered accountant's portfolio of clients are insurance companies, captives and a property catastrophe company.

Also in San Francisco are accountants and a list of lawyers, including Milligan-Whyte & Smith lawyer, Mr. Bala Nadarajah and Smith, Barnard & Diel lawyers Mr. Michael Smith and Mr. John Cunningham.

One senior member of the bar is Mr. Arnold Francis Q.C., senior partner at Richards, Francis and Francis, who has also taken the opportunity to use the trip as part vacation with his wife.

Mr. Francis said: "We try to have a presence at these RIMS conferences. It is really part of general business development. We meet new people, leave our business development folder with them and exchange business cards.

"If they should be coming to Bermuda, they have an opportunity to call on us for services in setting up whatever facility they may have in mind, including captive insurance.

"We have some captive insurance clients and are always looking to see some growth in that sector of our business.'' Mr. Francis conceded that the last RIMS Conference that he attended some years ago, he tried to do too much. But this year he is deliberately moving at a slower pace.

"The last time I was at RIMS,'' he said, "I was like a bull in a china shop, trying to leave my card at every booth. This year I'm attending some of the lectures and not trying to cover the entire field. Quite frankly, at my age I don't want to be dashing around too much. In the future, we'll be having more of our junior partners attending.'' Vice president at Starr Excess, Mrs. Cathy Duffy, said that she has seen a lot of clients at the conference and a lot of old friends. She has concentrated her efforts at networking and manning the Bermuda booth.

Mr. Oliver Heyliger, vice president of Willis Corroon Management (Bermuda) Ltd. has been manning the Willis Corron booth. When asked about the concerns about the company's worldwide operations, he said that any concerns were unfounded.

Mr. Anthony Joaquim