Lloyd’s announced that it has graduated the first group of graduate students from its new Program, which features an 18 month rotation, after which the new graduates will continue to work in London’s insurance industry.
Eight of the original nine graduates will now continue working either at Lloyd’s or with a managing agent.
Lloyd’s explained that during the 18 month scheme, “the graduates completed three six-month placements: two at Lloyd’s and the other in the market. They also completed their Diploma in Insurance from the Chartered Institute of Insurance (CII) and undertook other CII exams to aid their development.”
Suzy Black, Head of Human Resources, commented: “All the graduates have performed to a really high standard during their time on the program and have contributed to its success. A number of managing agents have offered graduates permanent jobs, as well as departments within Lloyd’s, and I wish them all the best of luck for the future.”
One of the graduates, Dishni Payagalage-Don, who will be going to work for Catlin, added: “As the Lloyd’s graduate scheme comes to an end, I can look back at what has been a steep, enjoyable and valuable learning curve and an experience that has opened up great opportunities for me in the insurance industry. The skills I have gained whilst on my rotations and the network I have built up will provide me with a strong foundation to continue building my underwriting career in the Lloyd’s market.”
Lloyd’s Graduate Program was implemented to “increase new talent in the market” and to convince university graduates that the insurance industry is exciting to work in.
Lloyd’s is currently organizing the second graduate placements, and is recruiting more candidates for 2010.
In addition, it will be “offering eight-week internships to undergraduates this summer to give them an insight into how Lloyd’s works and with the potential to join the Graduate Program the following year,” the bulletin concluded.
Lloyd’s CEO Richard Ward, speaking on a podcast (available at IJ TV), stressed the importance of attracting talented people into the industry. “New talent is critical to this market,” he said; “the whole market’s been built on the great talent we have.” Ward introduced the Graduate Program initiative in 2008, and indicated that he’s “quite proud” of it.
Source: Lloyd’s of London – www.lloyds.com
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