The Bermuda Insurance Institute has appointed Gerald Simons as president for a two-year term. Simons is a former Bermuda cabinet minister and currently holds the position of president and chief executive officer of Bermuda-domiciled Argus Group Holdings Limited. He will be taking charge of the strategic direction of the BII, the Institute revealed in a statement on the appointment.

"Over the past year, we have witnessed tremendous growth in the insurance and reinsurance sectors in Bermuda," said Simons. "By striving to achieve high levels of professionalism in training, regulation and conduct, Bermuda will continue to compete favourably on the world insurance stage."

"As a former minister of education and head of one of the leading local insurance companies, he has the right experience and knowledge of the industry to guide the institute in its next state of development," commented Elspeth Brewin, who now retires from the position and will be replaced by Simons.