Since 2017, ILS Bermuda have partnered with the Bermuda College as part of an education initiative to provide educational and work experience opportunities for College students, expanding awareness and knowledge of the alternative reinsurance and ILS industry and aiming to further the potential of Bermuda College students entering the job market.
ILS Bermuda’s newest education initiative provides funding for student internships and work shadowing opportunities with industry participants. The internship initiative focuses on supporting work placements for students who have interest in expanding their knowledge and experience in the growing ILS industry in Bermuda.
The first ILS internship programme has now been offered to students in partnership with Marsh Management Services (Bermuda). Students receive exposure to accounting, underwriting and finance processes as well as hands-on data analysis from actual ILS transactions.
Michael Coles, ILS Bermuda Education Co-Chair, said: “We are delighted to have Marsh Management enroll the first students in the ILS internship programme. In particular, we would like to thank Nicolas Plianthos of Marsh for his commitment through volunteering and sharing his knowledge of the industry with the students. We hope to offer more internship opportunities in the future with other local companies in the ILS industry.”
LaVonne Smith, Co-Chair of ILS Bermuda education initiative, and Senior Vice President, ILS Capital Management Ltd stated, “ILS Bermuda is keen to involve and engage local students, mentor and encourage them, and provide opportunities to enter the ILS and the alternative reinsurance space. With access to these various education and development initiatives, students gain great exposure to and opportunities in an industry in which Bermuda is the world leader.”
Feedback from students has been overwhelmingly positive with one student stating, “This has been one of the most interactive, immersive, and challenging internships I’ve experienced. From the various homework assignments on topics like ‘the protection gap’ to listening in on actual calls about ILS transactions, this was a great learning experience for me”.
Positive feedback from the students has been encouraging and reinforces the commitment of ILS Bermuda to education and inclusion by leveraging established relationships in the insurance, reinsurance and ILS industry with similar objectives. Companies interested in participating in the ILS internship programme are invited to contact ILS Bermuda for more details.