Cyril Whitter Receives Bermuda Lifetime Captive Achievement Award

Cyril Whitter is the recipient of the Bermuda Captive Conference's 2022 Fred Reiss Lifetime Achievement Award for his commitment and contributions to Bermuda's captive insurance industry.

Mr. Whitter's career in Bermuda's captive insurance space has seen him provide more than 44 years of service to both clients and industry peers.

After receiving an accountancy diploma from The Bermuda College in 1978, Mr. Whitter joined Jardine Pinehurst Management Company Limited as an accountant specializing in the management of captive insurance companies. He was appointed senior vice president in 1991 and remained at Jardine Pinehurst until 1993, when he joined Independent Management Ltd.

Mr. Whitter was appointed executive vice president of Independent Management in 2007 and was named president and CEO in 2009.

Mr. Whitter's experience in insurance company management has resulted in the development of expertise including the administration and financial reporting for insurance companies domiciled in Bermuda, Barbados, the Cayman Islands, and Hong Kong. His experience covers a variety of classes of insurance, including property-casualty, medical malpractice, professional liability, directors and officers liability, group life and health, strike insurance, and employment practices liability insurance.

"I am truly humbled to receive the Fred Reiss Bermuda Captive Conference Lifetime Achievement Award," Mr. Whitter said in a statement. "I have had the honor of serving Bermuda's captive insurance company and international business sectors for many years. The executives from these sectors have worked tirelessly to ensure that Bermuda continues to be a global leader. I am thankful that I have had the opportunity to be a part of this effort."

The conference award celebrates Bermuda figures who have had an outstanding impact on and valuable contribution to the captive insurance industry. Launched in 2016, the award is named for pioneering engineer Fred Reiss, who conceived the idea of "self-insurance."

In 1962, Mr. Reiss created the world's first captive as a dedicated subsidiary through which a corporation could manage its own risks. Starting with American steel companies, Reiss pursued the concept in Bermuda, and the sector recorded exponential growth over subsequent decades, fueling the foundation of the island's global insurance market.