Women in Hamilton: Lindsay Botelho
Lindsay Botelho is described by her Women in Hamilton nominator as having "great character and expertise but always willing to go the extra mile".
"She is particularly helpful with new joiners or younger Underwriting teams as she mentors and guides them through the multiple elements of a reinsurance company."
She began her career at what is now AXA XL as a catastrophe modeller and progressed to underwriting before being appointed to be head of the CEO’s office two years ago.
Give us a snapshot of your career to date.
As a recipient of the XL Scholarship, I was very fortunate to have the opportunity to network with several industry professionals through the summer internship programme. This helped to pave the way for a permanent position being offered upon graduation from university in 2006 as a Catastrophe Modeling Analyst in the Reinsurance department at XL. Upon completion of the Chartered Property Casualty Underwriter designation, I transitioned into an underwriting role with a US Property focus for approximately 11 years and progressed to a senior level. I moved into my current position two years ago, providing direct support to the Chief Executive Officer in achieving the strategic objectives for the Bermuda region and joined the local leadership team of AXA XL Reinsurance Ltd.
What attracted you to re/insurance?
As a Bermudian growing up on the island, the influence of the international business sector on the island’s economy was and continues to be well known. I was aware of the varied and interesting job opportunities it presented. This guided me towards enrollment in the business programme at McMaster University and to pursue a career in the industry.
Who inspired you or acted as a mentor in your career?
I was very fortunate to start my career working with a very supportive and motivated team at XL Re. Workload demands, especially at certain times of the year, translated into many hours spent in the office being surrounded by talented and driven individuals who were also fun to be around, truly made it a rewarding experience. Although all of us are not working on the same team together any more, they continue to inspire me with their achievements. I know I will continue to seek their advice and mentorship throughout my entire career.
What are your ambitions?
It is important to me to continuously develop my skill set and learn from both positive and negative experiences. Accepting new challenges can be intimidating but ultimately teaches invaluable life lessons, and the knowledge gained particularly through failure is an opportunity for personal and professional growth. I thrive in productive and supportive environments, and I hope to work towards more senior management levels, foster a team with these attributes in mind and inspire them to lean into those challenges.
Do you feel the re/insurance industry has made progress in terms of diversity and inclusion since you entered it?
The industry has recognised the benefit of creating diverse teams and the positive impact it has on the results and the wellbeing of both the company and its employees. Initiatives focused on inclusive employment and professional development practices are becoming more prevalent. The fact that there is heightened awareness and much conversation around this topic is encouraging, however it must continue to evolve and find the most productive and impactful ways to implement policies around it.
Do you feel this sector is especially attuned to diversity and inclusion?
The industry fundamentally recognises the benefit of diversification of risk within portfolios and therefore should similarly consider diversity in talent base as key to achieving success. Diversity in backgrounds, thought and skillsets can only lead to better decision making and I believe companies are actively taking this more and more into consideration.
Is there anything you would like to improve or change?
The industry has made great strides to improve efforts centred around this topic, however there is still room for development. It requires a shift in mindset and practice, and that can take time to get it right. It is therefore important to reflect on past experiences and adapt policies to promote continuous improvement going forward.
Would you encourage other women to consider this sector?
I would encourage other women to join as there are many attractive job opportunities in this sector. As more women progress through their careers into leadership roles, the opportunity to implement fresh perspectives and drive meaningful change grows. I would encourage all women to be supportive of each other, find the environment and team that is right for you, and stay true to yourself.
Why is this industry great to work in?
The re/insurance industry is always evolving and adapting to new areas of risk, and being a part of the solution by providing effective reinsurance products to our clients can be extremely rewarding. It offers many career paths that appeal to a wide range of interests and capabilities, and skills are often transferable between roles such as actuarial and underwriting, or operations and claims, and therefore provides many options for growth and development. The industry also recognizes the critical role it plays in supporting the community and its ability to make a truly positive impact.
Why is Bermuda a great place to be?
Bermuda is a critical hub for the insurance and reinsurance industry and is a well-established and respected jurisdiction that complies with the highest regulatory standards. It is a leading market in the property and casualty space and is also attracting more markets in the life sector. In addition to the many benefits of conducting business on the island, it is an incredibly beautiful place to live.
