NEW YORK, Jan. 3, 2019 /PRNewswire-PRWeb/ -- The International Insurance Society (IIS) has announced Michael Butt OBE, Chairman of Axis Capital, as the 2019 Insurance Hall of Fame Laureate. Mr. Butt will be honored at the June 20th Gala Awards dinner taking place at the IIS Global Insurance Forum at the Shangri-La Singapore, June 18th – 21st.
The Insurance Hall of Fame recognizes insurance leaders who have made a broad, encompassing and lasting contribution to the insurance industry and who are recognized by their peers as successful leaders, innovators and visionaries. Nominees for the Insurance Hall of Fame are submitted by the IIS membership and evaluated for selection by the IIS Honors Committee, a body of senior insurance executives and academics. Recently inducted Laureates include Nikolaus von Bomhard of Munich Re, Stephen Catlin of XL Catlin, Brian Duperreault of AIG, Denis Kessler of SCOR, Shuzo Sumi of Tokio Marine and Ikuo Uno of Nippon Life.
"Our 2019 Insurance Hall of Fame Laureate embodies the spirit of the Insurance Hall of Fame through his visionary leadership and accomplishments," said James Vickers, Chairman of the IIS Honors Committee. "His success at the helm of Sedgwick Ltd, Eagle Star, Mid Ocean Re, XL Capital and Axis Capital as well as his leadership role in elevating Bermuda to the most prominent international reinsurance hub serving as the Chairman of the Association of Bermuda Insurers and Reinsurers, and the establishment of industry wide collaboration on climate risk initiatives as Co-Chair of The Geneva Association has firmly established Michael as a beacon of leadership for our industry."
"Michael is widely respected for his business acumen and success, and equally for his commitment to bettering the world in which we live, exemplifying the role and purpose of the insurance industry," adds Mike Morrissey, President and CEO of IIS. "His work has served to increase the recognition of our industry, evidenced though the launch of the Risk Prediction Initiative (RPI), a partnership designed to address climate and natural catastrophe risk as well the founding of the Bermuda Foundation for Insurance Studies, centered on developing talent through mentorship."
In an exceptional career in (re)insurance that has spanned five decades, Michael Butt OBE has been a builder of businesses, a builder of markets and a passionate voice on the issues of climate change and climate-related risks. As a Board member of The Geneva Association, he established a research program in the area of climate risk which resulted in unprecedented industry consensus and collaboration, formalized in The Kyoto Statement. Mr. Butt has been instrumental in establishing Bermuda as one of the world's foremost global (re)insurance hubs. His contributions to the stature and reputation of the British Overseas territory of Bermuda were recognised in his appointment as an Officer of the Most Excellent Order of the British Empire (OBE). Within the global (re)insurance industry, his dedication has been recognised with a number of prestigious awards, such as the Bermuda Insurance Institute Lifetime Award, the Insurance Day Lifetime Achievement Award and the Insurance Insider Honours Lifetime Achievement Award.
About International Insurance Society
IIS serves as the inclusive voice of the industry, providing a platform for both private and public stakeholders to promote resilience, drive innovation, and stimulate the development of markets. The IIS membership is diverse and inclusive, with members hailing from mature and emerging markets representing all sectors of the re/insurance industry, academics, regulators and policymakers. As a non-advocative organization, the IIS serves as a neutral platform for active collaboration and examination of issues that shape the future of the global insurance industry. Its signature annual event, the Global Insurance Forum, is considered the premier industry conference and is attended by 500+ insurance leaders from around the globe.
Founded in 1965, the IIS is a 501(c)3 not for profit organization based in New York, NY. IIS is an affiliate of The Institutes.
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SOURCE International Insurance Society
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