Co-head of growing insurance company wants a “pipeline” of local talent into the industry
Bermuda’s robust regulatory regime is attracting business – and that’s of greater importance to insurers than issues with the Corporate Income Tax.
That’s a takeaway from our conversation with Global Atlantic’s Darryl Herrick.
The insurer has recently expanded its operation with a new office in Hamilton, boasting nearly 60 staff – a quarter of whom are Bermudian – and the intent to have a pipeline of new Bermudian talent into the industry.
(ABOVE: Highlights from the event above; BELOW: Extended interview with Global Atlantic Re President, Darryl Herrick)
Life insurers Global Atlantic showed off their strategic expansion into Washington House this week – a 15-thousand square foot modern office space looking out over City Hall and the bustling streets of Hamilton.
Daryll Herrick, President at Global Atlantic Re, said “We’re incredibly excited to celebrate what’s really a new chapter for us… we started this business over a decade ago with three people… We’ve now grown to almost 60.”
About a quarter of the team is Bermudian, Mr Herrick says, and the company is passionate about building a sustainable talent pipeline in Bermuda.
“That’s everything from working with the high schools”, Mr Herrick says, “to working with interns and having them grow up through this organization, so that they can start and thrive here as actuaries.”
Malika Cartwright, Director at the Department of Workforce Development, said it is amazing that the company is investing in our young people.
Barclay Simmons, Director of IVY II and former Director of the Bermuda Monetary Authority, said “as the insurance market grows in size and complexity, our island benefits”.
“Companies like Global Atlantic are helpfully contributing to that growth.”
Global Atlantic specialise in life insurance and retirement planning.
