Catastrophe modelling industry pioneer Karen Clark is to give the keynote address at the Women’s Day gala presented by Women in Reinsurance, the professional organisation for women working in Bermuda’s reinsurance sector.

The gala, which coincides with International Women’s Day, will take place at the Hamilton Princess & Beach Club on March 8.

Ms Clark is the cofounder and chief executive of Karen Clark & Company.

Over two decades ago, the Nobel Peace Prize honouree pioneered the catastrophe risk modelling techniques and solutions used today by virtually every insurance and reinsurance company in the world.

She pioneered the first catastrophe model, a technology that has become the bedrock of modern day underwriting and is utilised across insurance, reinsurance and financial institutions to assess risk.

WiRe said that Ms Clark had won many awards over the past two decades for her work and that KCC continued to drive innovation in catastrophe modelling under her leadership.

The gala was first hosted last year to celebrate WiRe’s 15th anniversary and will also honour a key contributor to Bermuda’s reinsurance industry with the 2024 Woman of the Year Award.

WiRe said the award would celebrate a reinsurance professional that had made an outstanding contribution to both the success of her company and the ongoing development of other professionals.

Peta White, chairwoman of the WiRe board of directors and president of Vantage Risk, said: “WiRe is thrilled to continue its work of highlighting the contributions of women in Bermuda’s world-class reinsurance industry. Our membership represents hundreds of women whose daily work contributes to the ongoing success of the industry and its positive impact on Bermuda and, indeed, the globe.”

The organisation said attendees could expect an elegant and inspiring affair with local entertainment and a guest list representing the full spectrum of industry personnel.

Events committee lead, Leone Charles, said: “With the very positive feedback we received from Gala 2023, we knew it was important to turn the event into a tradition.

“The Women’s Day Gala is currently the only such reinsurance award event held in Bermuda.

“Moreover, we are excited to have someone as influential as Karen Clark to offer the keynote. Everyone is invited to celebrate women in reinsurance with us!”

The organisation said the event was made possible by support from valued industry partners including: platinum partners Aon and Arch; gold partners Chubb, Martello Re, PartnerRe and Vantage Risk; and silver partners Ariel Re, Guy Carpenter and MS Reinsurance.

WiRe thanked its partners for their support of both the gala and the entire 2024 events calendar.

The organisation was formed in 2008 by a group of senior professional women in the reinsurance industry to encourage the development and promotion of women within the marketplace.

Membership includes women from almost every reinsurance and brokerage firm in Bermuda as well as from local regulatory bodies, associations and service providers.