Leaders' Showcase: Kathleen Faries
The CEO of Artex Capital Solutions said leading Bermuda insurance companies has been 'a dance and a challenge' - and she wouldn't have it any other way.
Artex Capital Solutions chief executive officer Kathleen Faries has built outstanding teams at Tokio Millennium Re and Artex Capital Solutions and says leadership has been "a dance and a challenge" in which she learned to be "a servant leader".
Faries was honoured by Women in Reinsurance Bermuda in 2023 and has been a pivotal figure in the development of insurance-linked securities over the last two decades.
Give us a snapshot of your career to date.
I have been in the insurance industry for over 30 years. My career has spanned broking (retail and wholesale), production underwriting, reinsurance, fronting, capital markets service and risk transfer facilitation services.
What attracted you to re/insurance?
My career path took a seemingly natural progression into re/insurance. The move from wholesale and retail broking into reinsurance came because the role needed these intermediary/broking skills. The role was to build out TMR’s capital markets business. The role required someone that could build relationships with investment managers and facilitate transactions that utilised TMR’s balance sheet and tail risk capacity. I learned a tremendous amount in that role. The team we built at TMR was a once-in-a-career experience, high performing, collaborative and connected.
I am grateful to have had the opportunity to be involved in the growth of the alternative capital market and ILS asset class over the last 17 years. It continues to be an exciting and dynamic part of the industry, particularly in Bermuda.
My role at Artex keeps me at the centre of risk transfer and capital markets which is fantastic.
Who inspired you or acted as a mentor in your career?
What inspires me is hard work, integrity, and grit, and I have had the honour of working with so many teams, leaders and individuals over the years that embodied these characteristics. I was given an opportunity in my 20s to prove I could sell, the business leader that gave that young woman that chance was the catalyst to me building the confidence and grit that has served me well for many years. When I look back now, without a doubt that sales role was an important part of my career and story. Cold calling, building revenue in new territories, finding my way across the South and East Coast of the US as a young woman (before cell phones and GPS!) was truly character- and confidence-building.
What have been the greatest challenges during your career?
Without a doubt, managing and leading people has been the greatest joy and the greatest challenge. Continually working on how to get the best and most out of people, getting people into roles that are fulfilling, keeping people engaged (especially post-Covid), and coaching people as they grow and develop. Learning how to be a servant leader, putting others first, but without sacrificing my own well-being and sense of joy, has always been a dance and a challenge – but I wouldn’t have it any other way.
What advice would you give to women entering the industry now?
Be confident and know what your strengths and value is to an organisation at every point in your career. Be bold and take risks. Treat people well and don’t forget to enjoy and cherish the relationships you will build along the way. Always be in listening and learning mode. Have fun!
Would you encourage other women to consider this sector?
I would absolutely encourage women into the sector. I would also encourage women not to be afraid to take risks, take on responsibilities that push you out of your comfort zone or that you are not sure you are 100% prepared or qualified for. Say yes!
Why is this industry great to work in?
I am still learning and growing every year I am in the industry. There is always something happening in the market that creates new opportunities, products, collaborations and new people to work with. Our industry includes people across many cultures, educational backgrounds, and with a wide variety of skills and strengths which makes it an interesting and rich working environment. Not to mention, our industry is critical to providing society with financial security and peace of mind.
Why is Bermuda a great place to be?
Bermuda has shown that it can be a great place to innovate, grow and thrive as a business. It is a small place with a big impact and incredible people. It is a privilege to live and work in Bermuda.
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