Women in Hamilton
Women in Hamilton
Natasha Scotland Courcy
Senior vice-president, general counsel, and chief operating officer, Athene Life Re
Give us a snapshot of your career to date.
I started my career as a corporate and banking attorney at a law firm that had a global presence, including in London where I practised for a few years. Bermuda was always an interesting prospect for me because of its reputation and strong regulatory framework. I moved here in 2007 and first stayed in private practice with a focus on reinsurance before transitioning to a property & casualty reinsurer that was listed on the New York Stock Exchange. That company was later acquired and in 2012, I began working at Athene Life Re as associate general counsel.
My position has expanded—I am senior vice president, chief operating officer and general counsel of Athene Bermuda, proudly holding almost 20 years of experience as a corporate attorney. I am also the vice chairwoman of the board of Bermuda International Long-Term Insurers and Reinsurers Association (BILTIR) which has presented me with the opportunity to support and promote the interests of Bermuda’s life and annuity industry.
Have you encountered any DEI-related challenges?
Earlier on in my career I had exposure to a diverse set of colleagues and mentors. As I gained experience and left the comfort of home—I am originally from Trinidad and Tobago—I did often feel like the ‘odd person out’ around the table, but I didn’t stay in that space of discomfort.
I became resilient. Projecting confidence and speaking up wasn’t automatic for me in situations where I was the only person who looked different in a room. It was an intimidating spot to be in as a young attorney. I refocused that discomfort and used it to challenge others’ viewpoints.
How is the Bermuda life sector doing in terms of DEI?
In the 15 years I have worked in Bermuda’s reinsurance sector, I’ve seen an increase in dialogue on diversity, equity and inclusion (DEI), but the statistics, particularly in senior leadership roles in the industry, show an evident lack of gender and racial diversity. While we have taken steps to understand why through continuing dialogue, we now need to pivot to implementing strategies that can drive material change.
Two barriers to entry are a lack of exposure and a lack of networks in the industry. We have made inroads to break through these barriers through various programmes. BILTIR has done this by hosting educational sessions with public schools to educate and increase awareness and understanding of our industry, and the opportunities available in our field. We also have BILTIR scholarships and intern programmes aimed at levelling the playing field by providing educational opportunities for students.
Athene has strong programming in place to further support diversity initiatives, including the Athene Scholarship Program which awards up to 10 students at Bermuda College each academic year. It is the largest programme of its kind at Bermuda College.
The industry has made progress, but there is still work to do.
“Companies should be actively looking at how they’re building and promoting diversity throughout every level of the organisation.”
How have you personally encouraged the promotion of female leaders?
My journey has allowed me to extend my time and expertise to my female colleagues and young mentees, through presenting workplace opportunities, conducting mentorship initiatives and overseeing women-focused social events led by ALRe’s DEI Committee. With my position on BILTIR, I have an even greater reach and impact on the next generation of leaders through my involvement with the association’s internship programme and speaking to students in Bermuda’s public schools.
My aim is to use my voice whenever the opportunity presents itself to advocate for the hiring, retention and promotion of future female leaders. Simply hiring isn’t enough. Companies should be actively looking at how they’re building and promoting diversity throughout every level of the organisation.
Where do you see the future of the Bermuda life sector?
Bermuda’s life sector has a strong track record of growth and I fully anticipate this will continue considering the global macro trends that influence the life sector show no signs of slowing down. Bermuda is well poised to benefit as a hub for local expertise and a strong regulatory framework to support this growth.
It is imperative that businesses have a concrete strategy to show their commitment to DEI to remain competitive in our industry. DEI is critical to an organisation’s bottom line.
What makes the life sector in Bermuda unique?
Bermuda’s size works to its advantage—it allows the Bermuda regulator to thoroughly understand the market and its constituents. The stable government, the beauty of the Island, the friendliness of the people and the physical proximity to the US all factor in. Bermuda is a premier reinsurance jurisdiction.
Helen Thornton
Bermuda chief financial officer and group head of finance, IQUW
Give us a snapshot of your career to date.
I trained with KPMG in Glasgow and Bermuda before joining a small financial services company in Bermuda, which was ultimately acquired by Citi Group. I worked for almost 11 years across different departments which allowed me to manage people from different backgrounds and life experiences.
I had a wonderful boss, who was more like a mentor and encouraged me to step outside my comfort zone. I left to join the operations/finance team at Nephila Capital in Bermuda and joined its reinsurance team after six years. This year I joined IQUW in Bermuda with a joint role of Bermuda chief financial officer and group head of finance.
What attracted you to re/insurance?
Although I made a conscious decision to move to Bermuda, working in the re/insurance industry was more of an accident. I didn’t give it that much thought at age 24—I just knew I wanted some excitement and a change from rainy Scotland.
Do you feel this sector is attuned to D&I?
Not historically, but today there is a huge effort across the whole industry to be more inclusive. IQUW has an Inclusion Council, which aims to play a key role in discussing, promoting and shaping our D&I agenda and contributing to the overall IQUW Group culture.
In the UK, we are partnering with The Brokerage, which is a social mobility charity supporting disadvantaged young people to achieve their career progression, providing opportunities, and helping them take their first steps in their professional careers. The HR and executive team ensure that D&I topics continue to be on the group’s agenda.
Is there anything you would like to improve or change?
It’s important for younger people to see role models they can relate to and aspire to. Although it’s improving, there is still a shortage of minorities at all levels across all organisations. It’s not just about having a token representative who thinks and acts exactly like the existing management team—it’s about creating truly diverse and inclusive cultures where people can be themselves and contribute honestly and openly.
It requires patience, tolerance, seeking to understand meaning and intent, and creating an environment which encourages different ways of thinking and creative ideas. It’s hard.
“The re/insurance sector attracts some great people, who are fun and exciting to work with.”
Have you encountered any DEI-related challenges?
All women and all minorities have experienced challenges. I have two very supportive bosses, in Bermuda Stephen Young and in the UK Richard Hextall, who actively embrace and cultivate diverse talent. There are certain roles within the re/insurance sector that have a social side such as client dinners, golf outings at weekends and overseas travel, which can be difficult for people with young children if they don’t have significant support at home.
Even in other roles there can be little flexibility over deadlines or meetings. I’m very fortunate in the amount of support I have received from my husband over the years.
Would you encourage other women to consider this sector?
Absolutely. The days of being the only woman in the room have largely gone. When I was looking to make my most recent career change, I was overwhelmed by the generosity of senior female leaders who spent their precious free time speaking with me about their experiences and about the industry in Bermuda today.
It was very humbling and inspiring at the same time. I didn’t thank any of them nearly enough.
What are your ambitions?
IQUW is just starting up in Bermuda although we have more than 700 people in the IQUW Group which includes IQUW and specialist motor insurer, ERS. Peter Bilsby, our CEO, has an exciting vision to blend the best of human expertise with best-in-class technology to create a next generation of underwriting culture. I’m going to help with that by ensuring we have a first-class finance team, and we are positioned to execute on this forward-thinking strategic vision.
Why is this sector a great one to work in?
The re/insurance sector attracts some great people, who are fun and exciting to work with. I once had a young woman leave because she didn’t want to “spend her career working with men in grey suits”. But that’s not been my experience of the industry at all. It’s full of characters!
Bermuda is a wonderful place to live and work. It provides the types of jobs and careers that typically only exist in large cities, with exposure to decision-makers, key executives and board members, but it’s a fabulous place to spend your weekends too.
