Women in Hamilton
Women in Hamilton
Kristin Alexander
Vice president, human resources & operations, Aeolus Capital
Give us a snapshot of your career to date.
I am vice president, human resources (HR) and operations of Aeolus Capital Management (Aeolus), a specialist manager of insurance-linked securities (ILS). My primary responsibilities include recruitment and HR management, oversight of corporate administration, solution and resource allocation to business functions and supporting the chief operating officer with respect to operational initiatives.
I am a member of Aeolus’ compliance, ESG, and IT committees and represent Aeolus on the Association of Bermuda Insurers and Reinsurers HR working group and diversity, equity and inclusion (DEI) committees.
What attracted you to re/insurance?
When I was graduating, one of my internships was with Marsh, which was handling HR for Aeolus, a new startup. I learned that Aeolus was looking for an administrative assistant, and I was encouraged to print my résumé and show up for an interview. It has been the best career decision I have made.
Fourteen years later, I am still enjoying the industry, and my career has developed and grown as Aeolus has evolved and changed. I look at the successful company we have become with great pride knowing that I have been a contributor to that. I was fortunate that the company saw my potential, challenged me, invested in my development, and provided me with space to navigate my career aspirations.
Do you feel this sector is especially attuned to D&I?
There is increased awareness within the sector of the importance of D&I, but there is still work to be done so it’s important that we keep the D&I conversation going, continuing to open the eyes of the industry to the challenges and getting people involved—from senior executives to entry-level employees.
Everyone unknowingly holds stereotypes, and it is putting in the work to bring those to the forefront and actively working to fix these unconscious biases through awareness and training that will make the biggest difference. It is important to have inclusive dialogue so that everyone—those impacted and those who can help—can feel comfortable joining together to confront these issues and inspire change.
Is there anything you would like to change or improve?
The Bermuda re/insurance market continues to miss the mark by not attracting enough local talent to the technical areas of the industry. I have always been committed to giving back to young Bermudans, probably because I was lucky enough personally to have someone invest in me early in my career.
I feel passionately about paying that investment forward, offering my time, and promoting networking opportunities and resources available within the industry. Developing and better utilising local talent should be a no-brainer for such an attractive jurisdiction.
“There needs to be a greater focus on initiatives highlighting the many different career pathways available within our industry.”
Have you encountered any challenges related to D&I?
No, but many have and they continue to face D&I challenges at work or in their personal lives. Whether it is a ‘joking’ comment or a direct disregard, this is something that needs to be confronted from all sides. I believe it is important for us to speak up for each other if we witness any unfair or biased comments or actions.
Making real change in the area of D&I is for everyone; if each of us stands up and won’t stand for it, the tide will change.
Would you encourage other women to consider this sector?
Yes. As female leaders and professionals, each of us has a responsibility to support one another by acting as advocates for our peers and mentors for the next generation. I feel strongly that there needs to be a greater focus on initiatives highlighting the many different career pathways available within our industry.
At times when I discuss my role, people think I am actively pursuing only the next generation of underwriters or actuaries, when in fact there are so many interesting roles. We need accountants, catastrophe modellers, operations professionals, lawyers, risk managers, and so much more, and we should be actively attracting young women into the industry.
What are your ambitions?
Everyone at Aeolus recognises me as someone who is an advocate for the business never losing sight of its wider societal obligations. I’m hugely proud and motivated by the variety of homegrown talent in Bermuda. I see my role continuing to include my passion for creating opportunities and developing programmes for young Bermudans as well as engaging and retaining high-quality talent within the industry.
Why is this sector a great one to work in?
It is exciting to be part of an industry that is constantly on the cutting edge. Most recently, I have been interested in the use of climate-focused research to analyse the impact of climate change on the frequency of nat cats and risk analytics and pricing. It is understanding the factors driving and changing the business that keeps the industry a consistent marketplace for education and growth.
Barbara C. Bufkin
Senior advisor, Amwins Access
Give us a snapshot of your career to date.
My experience in the industry has spanned leadership roles encompassing operational and strategic responsibilities including business origination and product development, risk management/corporate governance, and ceded and assumed reinsurance around the world.
Throughout the past eight years, I have focused my career at the intersection of wholesale and retail distribution, underwriting, technology, and capital in specialty businesses. My current roles include serving as senior advisor at Amwins; independent director of Nuclear Electric Insurance Limited (NEIL) and Bermuda subsidiary Cedar Hamilton; independent director at The Westfield Companies; and advisory roles for Kettle Re, Bermuda and Tenney110 (Opterrix).
What attracted you to re/insurance?
While entering the industry as a freshly minted, cum laude philosophy grad, I had no idea of the scope the insurance industry could offer. Within five years, the ability to experience commercial underwriting, casualty facultative underwriting, and a top-tier reinsurance intermediary training programme led the way to opening a new reinsurance brokerage office in Dallas, Texas, and growing this to a $500 million business in nine years.
The next two decades continued into specialty insurance, top-tier wholesale distribution, programme underwriting, and insurtech.
The insurance industry was and is a giveback culture, and serving on philanthropic boards and industry associations offered context for social value and talent mentorship. As a snapshot, during my three-year tenure (2017–2020) as chair of the international board of governors of the Insurance Industry Charitable Foundation (IICF) I have been directly engaged in the global and national Women in Insurance Conference series, now named the Inclusion Conference.
I also serve as co-chair of the IICF Inclusion, Diversity, Equity and Accessibility (IDEA) Council which brings together over 50 of the top D&I officers in the insurance industry to advance the mission of DEI.
Do you feel this sector is especially attuned to D&I?
The intentional focus by the insurance industry on DEI and Belonging supports the need for the work that must still be done. Inclusive leadership is a continuum. Diversity being achieved alongside Inclusion and Equity has become an important part of our work in D&I. Equity is not only pay equity (which is still not fully achieved), it is also opportunity.
Addressing Equity means allowing and accelerating opportunities for growth, providing resources and training, and understanding the gaps in what people need to thrive. Belonging completes the concept of DEI. When our employees feel they belong, and our diverse talent has a high retention rate, our work in DEI&B is a success.
What advice can you give and what changes do you want to see?
Establish a professional support network early on in your career. Having the confidence to bring your whole self to work, while choosing to have a family and pursuing a demanding career, are conversations we need to have as leaders early in onboarding new talent. I believe in fostering and driving the ‘Big Tent’ of culture, inclusion, innovation, sponsorship, mentoring talent, and the power of networks.
We need more intentional career pathing, making sure that all voices are being heard when they are not in the room, and preparing women and minorities for executive roles.
“It’s no longer OK to be a bystander—we must be an upstander.”
Have you encountered any challenges related to D&I?
You bet. It’s how we navigate these challenges, have courageous conversations, attempt to influence, coach and be coached, and most of all demonstrate resilience which will move the needle. It’s no longer OK to be a bystander—we must be an upstander. Also, men being present as allies is core to the success of women. We need to be more prevalent in the C-suite and on corporate boards.
Raise your hand for the role. We must not lose sight of the importance of women helping other women. The greatest disappointment of my career was another woman deciding there “was not room for both of us”. Of course, the only way to overcome that was to carry on!
Would you encourage other women to consider this sector?
Absolutely, and especially now. Every vital issue facing humanity is secured, protected, and innovated with the help of insurance. The possibilities are endless, and the life + work balance does exist. Employee resource groups, young professional networks, inclusive leadership training, Zoom/Teams conferences, and Bermudan organisations such as WeSpeak are embracing women as an essential talent.
For young women who choose a career in insurance, it’s a great business to be in.
What are your ambitions?
My current ambitions include continuing my advisory and independent board work with an absolute focus on advancing talent. Back in the Bermuda marketplace I am enjoying working with former colleagues at Kettle Re and Amwins in critical-capacity needs for wildfire and other nat cat perils, a natural fit with my background. Continuing to coach and sponsor and to chair a board of directors in the for-profit insurance industry sector would be ideal.
