Five join Bermuda Risk Transfer Hall of Fame - Royal Gazette

Updated: Jan 06, 2021 11:36 AM

Jeremy Cox, executive chairman of the BMA

John Huff

Brad Adderley

David Brown

Arthur Wightman

Five individuals who have contributed significantly to Bermuda’s risk transfer market have been added to an industry publication’s Bermuda Risk Transfer Hall of Fame.

Jeremy Cox, John Huff, Brad Adderley, David Brown and Arthur Wightman have been honoured in the latest update to the Hall of Fame by Bermuda:Re+ILS.

Although they are not re/insurers, the publication said they had contributed to the success of the industry in Bermuda as service providers.

Mr Cox is executive chairman of the Bermuda Monetary Authority. He was named a CBE in 2020, and in 2019 was awarded the Fred Reiss Lifetime Achievement Award for his contribution to Bermuda’s insurance industry.

“Cox has overseen the achievement of full equivalence with Europe’s Solvency II regime and helped to establish the Island as the world’s largest jurisdiction for captives,” Bermuda:Re+ILS said.

Mr Huff is chief executive officer of the Association of Bermuda Insurers and Reinsurers, a role he has performed since January 2018. The publication said: “Huff has been directing ABIR’s worldwide public policy initiatives and making himself a spokesperson for the industry on a wide range of issues.”

Mr Adderley is a partner in Appleby’s corporate department in Bermuda. Bermuda:Re+ILS said: “Adderley has been a passionate defender of Bermuda’s approach to regulation when it has come under external pressure from the EU and other sources.”

Mr Brown is a senior partner at EY Bermuda, and regional insurance leader for Bermuda, the Bahamas, the British Virgin Islands and Cayman Islands. The publication said: “Brown has a keen understanding of the broader macro trends in the economy and financial services, and how these are likely to impact Bermuda.”

Territory leader for PwC Bermuda, Arthur Wightman received the Queen’s Certificate and Badge of Honour in 2018. Bermuda Re+ILS said: “As far back as 2013 Wightman was calling for flood and terrorism risks to be brought into the private market, via convergence or traditional reinsurance.”

The publication said the five individuals do as much to make the industry what it is as any re/insurance executive. It added: “We hope the individuals profiled on the following pages inspire readers and remind everyone that any individual can make such a difference if they have the drive and innovative skills, and that no industry is an island: it takes many different businesses to make the re/insurance industry what it is.”

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