Bermuda Insurance Institute names Butterfield CEO
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The Bermuda Insurance Institute named longtime market executive and former regulator Malcolm Butterfield as CEO earlier this week.
Succeeding Dawnnelle Walker, who left the BII last September, Mr. Butterfield said he intends to expand the membership of the BII to non-insurance companies and to raise its profile by providing comment on industry developments.
The BII is the main educational and career development organization for Bermuda’s insurance and reinsurance market. It has about 75 member companies, and Mr. Butterfield said he wants to grow the membership to more than 100, in part by recruiting non-insurers and reinsurers.
“There are companies that are involved in the Bermuda international market, such as banks and IT companies, that benefit from the insurance and reinsurance industry, so why not become a member of the BII?” he said.
In addition, Mr. Butterfield said he plans to raise the profile of the BII, which offers courses offered by the Malvern, Pennsylvania-based American Institute for Chartered Property Casualty Underwriters and other educational programs, by becoming a voice for the organization on industry developments.
“We want to become a catalyst for spearheading conversations and events that impact the industry,” he said.
A well-known figure in the Bermuda insurance and reinsurance market, Mr. Butterfield retired from KPMG L.L.P., where he was a managing director and partner leading its advisory practice, in 2013. Prior to joining KPMG in 1994, he spent five years as Bermuda's Registrar of Companies, the domicile principal regulator.
Heading the BII will also give him the opportunity to promote the insurance sector as a career for young Bermudians, he said.
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