For the fourth successive year, the Association of Bermuda Insurers and Reinsurers will sponsor a free foundation course on Bermuda’s reinsurance and insurance industry.

Abir is once again partnering with Bermuda College and the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science at St John’s University, New York to offer Special Topics in Insurance.

The online course gives information about Bermuda’s insurance sector and provides a stepping stone towards a career in the industry.

Lectures will be delivered via Zoom each Monday evening from 6pm to 8pm, starting on January 15. The sessions will feature presentations by St John’s University faculty and reinsurance and insurance executives from Abir member companies.

Topics covered by the course include the history and evolution of Bermuda’s reinsurance and insurance industry and its economic significance. Areas of focus include climate risk and Bermuda’s leading position in providing natural catastrophe reinsurance, Bermuda’s growing legacy run-off industry, life and annuities, collateralised reinsurance, captive insurance and Bermuda’s world-class regulatory framework.

Participants can select individual sessions, depending on their area of interest, or register for the full course on the Bermuda College website. The course also serves as a strong foundation for students considering application for a summer internship with one of Bermuda’s leading insurers and reinsurers. In 2023, Abir member companies sponsored a record 103 paid internships for local students.

Abir president and chief executive John Huff said Abir sponsorship of this course is an important part of its members’ commitment to building a diverse and inclusive workforce.

“By helping young Bermudians to understand this global industry on their doorstep and the possibilities it offers for them, it will help to attract the next generation of Bermudian leaders,” he said.

He was grateful for the numerous volunteer presenters from Abir member companies. “I’m hopeful we can attract similar levels of interest and enthusiasm as we saw in the course’s first three years,” Mr Huff said.

Nikkita Scott, acting vice-president of academic and student affairs at Bermuda College, said this collaborative effort gives students the “gift of exposure”.

“Beyond the credit earned, our student participants have been empowered to enhance their professional networks as they operate with a confidence founded on real-world knowledge,” she said. “We continue to have a deep appreciation for the partnership with Abir which has afforded the opportunity to create dynamic learning experiences for our students and the enrichment of our community.”

Mark Browne, faculty chair of the Greenberg School of Risk Management at St John’s University, was delighted to continue the partnership with Abir and Bermuda College.

The course is aimed not only at college students interested in a career in reinsurance and insurance, but also high school students exploring options for further education, career shifters and members of the public interested in knowing more about the industry. In the first three years, some industry professionals also enrolled.

Craig Simmons, Bermuda College senior lecturer and course facilitator, said: “Students will get a bird’s-eye view of the global reach and role that locally produced reinsurance plays in safeguarding the welfare of people from around the world.”