Risk Management and Insurance students inspire learning trip to Bermuda

Bermuda sounds like a great vacation destination, but the archipelago recently became a training ground for several East Carolina University Risk Management and Insurance students. The Jan. 17-21 trip allowed the students to participate in an immersive educational experience in Bermuda, which is considered by the industry to be one of the world’s most important centers for property and casualty reinsurance and captive insurance.

The trip was designed to bridge classroom theory with real-world application by giving students direct exposure to how reinsurance markets operate, how capital is raised and deployed, and how professionals across the global insurance ecosystem interact in practice. Accompanied by faculty members Dr. David Pooser and professor Kurt Fickling, six ECU students – Ben Trautman, Jack Vail, Maddy Bland, Grayci Hill, Kenna Early and Abby Cargile – spent four days meeting with leading reinsurers, captive managers and industry professionals. At the same time, they gained a broader understanding of Bermuda’s history, economy and role in global risk transfer.

Learning at the Source of Global Reinsurance

Bermuda is widely recognized as a global hub for property and casualty reinsurance. Over the past several decades, the island has become home to some of the world’s most influential reinsurers and insurance-linked securities markets, particularly following major catastrophic events such as hurricanes, earthquakes and other natural disasters. For students studying risk management and insurance, Bermuda offers a unique opportunity to observe how theory taught in the classroom is applied on an international scale.

The primary purpose of the trip was to help students understand how reinsurance functions at the underwriting and capital levels. Through meetings with senior underwriters and executives, students learned how hundreds of millions – and in many cases billions – of dollars are raised in reinsurance markets to absorb catastrophic risk. These discussions emphasized how capital enters the market, how it is structured, and how it is ultimately deployed to protect insurers, businesses and communities around the world.

Students also gained insight into how reinsurance companies evaluate risk, price coverage and manage their portfolios in response to changing loss trends, climate patterns and global economic conditions. Seeing these decisions discussed in real time by professionals actively engaged in the market reinforced key concepts covered in ECU’s RMI curriculum.

Understanding the Role of Reinsurance Brokers

An important component of the trip focused on the interaction between reinsurance brokers and reinsurance companies. While textbooks explain the role brokers play in placing coverage, negotiating terms and structuring programs, the Bermuda meetings allowed students to observe how these relationships function in practice.

Industry hosts discussed how brokers act as intermediaries between insurers and reinsurers, helping to design reinsurance programs that balance cost, coverage and risk appetite. Students learned how brokers present risk submissions, facilitate negotiations and maintain long-term relationships that are critical to successful placements — particularly following large loss events.

These conversations helped students appreciate the collaborative nature of the reinsurance marketplace and the importance of trust, expertise and communication in an industry where decisions often involve significant financial exposure.

Exploring Alternative Risk Transfer Through Captive Insurance

In addition to traditional reinsurance, the trip emphasized alternative risk transfer mechanisms, particularly captive insurance.

Students met with AON Captive Managers, who provided an in-depth overview of how captive insurance companies are formed, regulated and managed. Discussions focused on why organizations choose captives, the types of risks commonly placed into captive structures, and how captives can complement or replace traditional insurance and reinsurance solutions.

These sessions tied directly to ECU’s excess and surplus lines and captive insurance coursework, allowing students to connect academic content with real-world captive operations. For many students, this exposure clarified how captives fit into broader enterprise risk management strategies and highlighted career opportunities within captive management, consulting and risk advisory services.

Professional Development Beyond the Classroom

Professional development was also a focus, and throughout the week, students participated in formal meetings, professional lunches and business dinners with industry executives. These experiences gave students firsthand exposure to professional etiquette, communication standards and networking expectations within the global insurance industry.

Students were encouraged to ask thoughtful questions, introduce themselves confidently and engage in meaningful dialogue with professionals. Faculty members emphasized the importance of preparation, professionalism and follow-up – skills that are critical to long-term success in the insurance and risk management field.

In the RMI program, students are taught professionalism, and this allowed the students an opportunity to participate in high-level professional meetings outside of a classroom setting. The students said the opportunity to interact directly with industry leaders helped build confidence and reinforced the importance of interpersonal skills alongside technical knowledge.

Industry Engagement and Grateful Hosts

The group met with several leading organizations, each providing unique perspectives on the reinsurance market. The primary reinsurance companies visited and their hosts included Allied World Reinsurance (Tom McKevitt), Fidelis Partnership Reinsurance (Drew Tomlinson), Peak Reinsurance (Justin Morley), MS Reinsurance (Marlin Ramlil) and RyanRe (May McKevitt). Each meeting offered students a deeper understanding of underwriting philosophy, capital management and market dynamics.

These professionals not only explained their roles and responsibilities, but also shared career advice, insights into industry trends and reflections on how the reinsurance market continues to evolve. Their willingness to invest in the education of future insurance professionals underscores the strong relationship between ECU’s RMI program and the global insurance community.

Learning Beyond Insurance: Bermuda’s History and Culture

The trip included a secondary focus on understanding Bermuda’s history, culture and economy. Students toured the island with a guide, visiting landmarks such as the famous pink sand beaches, the Crystal and Fantasy caves and the Bermuda National Museum.

These experiences provided important context for understanding Bermuda’s development as a financial center and its broader economic structure. Students learned about the island’s maritime history, its strategic importance and the role international business – particularly insurance and reinsurance – plays in supporting the local economy.

Preparing Students for Careers in Risk Management and Insurance

The Bermuda experience reflects the College of Business’s commitment to experiential learning and industry engagement. Trips like this allow students to move beyond textbooks and lectures, immersing them in real-world settings where they can see how theory translates into practice.

For ECU RMI students, the opportunity to learn directly from reinsurers and captive managers in one of the world’s most important insurance markets is invaluable. The knowledge gained during the trip will enhance classroom discussions, inform future coursework and help students make more informed career decisions.

Looking Ahead

As the insurance industry continues to evolve in response to emerging risks, climate change and shifting capital markets, experiences like the Bermuda trip will remain an essential component of ECU’s RMI program. By fostering strong industry partnerships and prioritizing hands-on learning, the College of Business continues to prepare students for successful and meaningful careers.

The January 2026 Bermuda trip stands as an excellent example of how experiential education can deepen understanding, inspire students and strengthen connections between academia and industry – benefiting students, faculty and the profession as a whole.