More than 160 people have registered so far for the foundational insurance course offered by the Bermuda College/St John’s University partnership and supported by the Association of Bermuda Insurers and Reinsurers (Abir).

A round table discussion on international business is on offer as the second year of the online course launches Monday night, January 17.

After four successive years of job growth in the sector, international business is the largest employer among the economic activity categories listed in government’s Employment Briefs 2021 report, with a total of 4,240 full-time positions.

Abir member companies are committed to the development of a strong local workforce and in 2019 alone, provided educational scholarships with a value of more than $1.3 million.

Added to that were the internships, graduate training programmes, tuition reimbursement and leadership training.

Abir said the opening class this week features an international business round table with finance minister Curtis Dickinson, Abir chairman and chief executive officer of Arch Capital Group, Ltd, Marc Grandisson, together with course facilitator Craig Simmons, Bermudian economist and senior lecturer at Bermuda College.

The 14-week series of classes is designed to give participants a foundational knowledge of the Bermuda re/insurance sector and to provide a stepping stone towards a career in the industry.

Hosted via Zoom on Monday evenings starting at 6pm, the sessions will feature presentations of Bermuda re/insurance executives, regulators from the Bermuda Monetary Authority, and St John’s University faculty.

Abir chief executive officer John Huff said: “We are pleased to see strong interest in the course for the second successive year and would encourage any student, or member of the public with an interest in Bermuda’s world-class re/insurance industry, to register.

”Abir member companies are committed to building a diverse and inclusive workforce. We are happy to partner again with Bermuda College and St John’s University as we seek to attract future leaders to our industry.”

Mr Simmons said: “The executives who present on the course are dedicated and committed to enticing more Bermudians into the industry. One concrete indicator of this commitment is the number of internships on offer.

“Last year, we had more internships than students. The gateway has never been this open. There is a global shortage of talent – and common sense says that you should tap into the local pool and nurture on-island talent.

“If you are thinking about a career in reinsurance, then you might want to register.”

This week’s round table promises to be insightful. Mr Simmons said: “Whilst the discussion will revolve around the economic impact of the re/insurance sector and international business more broadly, we also want to touch on the social impact.”

Topics covered by subsequent sessions with Abir member company C-suite executives will include the evolution of Bermuda’s re/insurance industry and its economic importance; climate risk and Bermuda’s leading position of providing natural catastrophe reinsurance; the growing legacy run-off industry in Bermuda; life and annuities; collateralised reinsurance; captive reinsurance and Bermuda’s regulatory regime.

Bermuda College students can enrol for the course and earn eligible credits.

The lecture series is also open to members of the community who wish to learn more about Bermuda’s international re/insurance industry, at no cost.

To register for ‘Special Topics in Insurance: Foundations of Bermuda’s International Re/Insurance Sector’, visit the Bermuda College website at www.college.bm.