After 46 years in Bermuda’s captive insurance industry, Cyril Whitter, the President and Chief Executive Officer of Independent Management (IML), who worked there for more than 30 years, has retired.

The company is now headed up by Justin N Doherty.

Mr Whitter, who obtained a diploma in accountancy from the Bermuda College in 1978, was appointed Executive Vice President of Independent Management in 2007.

Two years later he was named President and CEO of IML in 2009.

In 2022, he became the recipient of the Bermuda Captive Conference’s 2022 Fred Reiss Lifetime Achievement Award for his commitment and contributions to the industry.

His experience in insurance company management resulted in Mr Whitter’s expertise in the administration and financial reporting for insurance companies domiciled in Bermuda, Barbados, the Cayman Islands and Hong Kong.

Over the years he has covered various 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.

Justin N. Doherty, President and CEO, Independent Management Ltd

In an statement, the board extended its gratitude to Mr Whitter and expressed its confidence in Mr Doherty.

“Mr Doherty brings over a decade of experience in the insurance sector,” the statement added.

“His journey comprises of various roles at global insurers, which allows him to bring a unique blend of technical acumen and strategic vision.

“His diverse insurance background enriches our leadership fabric, ensuring a dynamic and forward-thinking organisation.

“Mr Whitter expressed confidence in his successor and will continue to serve as strategic adviser to the IML management team, will continue to serve on the board of IML and will join the board of its parent company, Mizzen Holdings Ltd.”

Mr Doherty stated: “I am honoured to lead IML into its next chapter. Our commitment to excellence, resilience, and unwavering client support remains steadfast.

“Together, we will navigate evolving market dynamics, enhance operational efficiencies, and drive sustainable growth.”

Feature Photos Supplied