Life Time Achievement Award
Bermudian corporate lawyer Michael Burns, has been selected winner of the 2017 Fred Reiss Lifetime Achievement Award.
Michael Burns has been selected as the winner of the second Fred Reiss Lifetime Achievement Award.
A leading Bermudian corporate lawyer, Mr Burns, is a former senior partner, executive board member and global group general counsel of Appleby,
He now runs his own consultancy, advising clients on local and international business matters.
Mr Burns has also led several corporate law reform initiatives on behalf of the Bermuda Insurance Management Association and the captive sector. Examples include his work with Bermuda’s Ministry of Finance and Attorney-General’s Chambers to develop and implement the Segregated Accounts Companies Act 2000 and its subsequent amendment, as well as development of the new Incorporated Segregated Accounts Companies Act 2017, currently being prepared for Parliament.
Mr Burns will be presented with the award at the Bermuda Captive Conference, which runs from September 10 to 13.
David Gibbons, conference chairman, said: “Michael has made a very impressive contribution to Bermuda’s corporate landscape over many years.
“In particular, the Lifetime Achievement Award highlights the innovative work he has carried out to forge progressive change to benefit our captive insurance industry and Bermuda’s whole marketplace for years to come.”
Mr Burns, who formed the Aquifer Global Group in 2015, said: “I’m humbled and delighted to have been selected to receive this award from the Bermuda Captive Conference.
“The Bermuda market’s forward momentum is the product of collective effort and collaboration among many of our industry fellows and partners. I am pleased to accept the award on behalf of all those — captive managers, clients and colleagues among them — upon whose efforts, creativity and continued collaboration the future of the vital captive sector depends.”
Mr Burns has extensive international offshore experience, having served as managing partner of Appleby and managing director of Appleby Corporate Services in the British Virgin Islands, as well as in a variety of senior legal counselling, consulting, governance and strategic-development roles.
He has helped establish new offices and start-up businesses in various jurisdictions, advising on special projects in the Caribbean and Bermuda, the Middle East, Far East, Mediterranean, Australia, New Zealand, Mauritius and Seychelles.
Among many roles and achievements, he served as secretary to the former Bermuda International Business Association Legislative Change Committee; assisted international offshore law firm Harney Westwood & Riegels in its 2015 Bermuda start-up; has been a senior legal consultant to the Argus Group and several Channel Island professional services firms; was retained to guide the formation and development of a new international business centre in the United Arab Emirates; and was recently appointed to serve as a member of the Banking Liaison Panel of Bermuda’s Minister of Finance.
He has advised corporate clients in a range of product development areas, including structured finance, captive, rent-a-captive and other alternative risk transfer structures, segregated accounts companies, insurance-linked securities structures and platforms, special purpose vehicles, sidecars, convergence and transformer companies, catbonds, life insurance and reinsurance product design and specialised banking, insurance and reinsurance documents.
Mr Burns continues his role as an active thought leader and contributor in all areas of insurance, including offshore developments and new product design, and recently led a speaking tour in Asia on Bermuda and other offshore captive insurance opportunities.
The Lifetime Achievement Award will be presented at the official opening of this year’s conference on the morning of September 11, at the Fairmont Southampton. It is named for industry pioneer Mr Reiss, a Bermudian-based Ohio engineer credited as the founding father of the island’s insurance industry. Via American steel companies, Mr Reiss pursued the concept of “self-insurance,” whereby corporations could insure their own risks. He launched the first captive in 1962 and over the next five decades, Bermuda became the industry leader. Mr Reiss died at age 68 in Bermuda in November 1993.
Marsh Chair Husbands wins Lifetime Achievement Award
Jill Husbands, the Chairman and Managing Director of Marsh IAS Management Services (Bermuda) Ltd., has been selected the winner of the inaugural Fred Reiss Lifetime Achievement Award, to be presented at this month’s Bermuda Captive Conference (June 13-15).
Husbands joined Marsh in 1984 as an insurance officer with responsibility for a diverse portfolio of captive companies after gaining experience in both the Bermuda and London markets as an underwriter and broker. Since then, she has held various positions at the company and was named Chairman this year. She is a member of the Insurance Advisory Committee (IAC) and is Chair of the Board of Governors of the Bermuda College.
“Jill is an incredibly deserving recipient of this first-time award to mark Fred’s legacy, “said conference Chair David Gibbons. “Her contribution to this conference, our industry, and Bermuda as a whole has been invaluable and, like Fred himself, she is a remarkable professional who has set an example for all of us in this industry.”
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