Insurance Ireland and DIMA to Merge to Be a Unified Voice for Insurance and Reinsurance in Ireland
7th December 2016 – Insurance Ireland and the Dublin International Insurance & Management Association (DIMA) will merge in the New Year to bring together the domestic and international insurance and reinsurance sectors under the one umbrella.
This expanded membership association will deliver critical benefits for insurers and reinsurers through enhanced representation, by leveraging synergies and by delivering operational efficiencies. With a mandate from the respective associations’ members, this move will support the industry in achieving its full potential and send a clear signal to the global market place that Ireland’s strong re/insurance sector is the location of choice for insurance and reinsurance operations.
The merged organisation will represent over 140 insurers, reinsurers and captives in a major industry that employs approximately 28,000 people and provides vital services for economic activity both in Ireland and internationally.
Kevin Thompson, CEO of Insurance Ireland stated “There is a compelling rationale for the merger of Insurance Ireland and DIMA to realise benefits for our combined memberships and the economy.”
“Both Insurance Ireland and DIMA have proud traditions of representation and this merger will harness our respective expertise, knowledge and networks to allow insurers and reinsurers in Ireland to speak with one voice. The merged organisation’s agenda will be reflective of the scale of the industry in Ireland and the opportunity it presents for future growth.”
“Through achieving synergies in representation in Ireland and Europe, as well as operationally combining member services and events, this merger will harness the abilities and aspirations of two very driven organisations in common cause.”
Eddy Van Cutsem, interim CEO of DIMA stated “It is important that we respond to our members’ requirements as they adapt their businesses to a changing world. In this new merged association we offer strength and depth across all dimensions of re/insurance”.
“Ireland has developed into one of the few truly international re/insurance centres by becoming a home to both generalists and specialists: this diversity of business gives Ireland its unique flavour as an international centre for risk business.”
Both organisations have been keenly promoting Ireland as an international hub for insurance and reinsurance and these efforts will be a priority for the merged organisation.
The functions and services for the combined membership will be fully integrated over the coming months.
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DIMA announces senior appointments – July 2016
DIMA are pleased to announce the appointment of David Stafford as Chairman of the association, succeeding Marco Nuvoloni.
David is chief executive officer of ALD Re Ltd, a reinsurance subsidiary of ALD International and a member of the Société Générale group. He has been a DIMA director since 2007 and for several years served as chairman of DIMA’s conference sub-committee. Prior to joining ALD Re in February 2012, David spent 20 years with AIG in a variety of senior roles primarily in the insurance management area. David is a qualified chartered accountant and has a BSc in Management Science from Trinity College Dublin.
DIMA are also pleased to announce that Eddy Van Cutsem has been appointed interim CEO, effective 1st August, succeeding Sarah Goddard. In his role as interim CEO, Eddy will work with the DIMA board to develop its future strategy at a time when the international re/insurance industry is going through a period of structural change in a challenging environment.
Full details of the press release can be found here
DIMA announces CEO vacancy – June 2016
Our CEO Sarah Goddard has decided to take up an opportunity based in Brussels, and therefore will be leaving DIMA at the end of July 2016. Sarah has been instrumental to the successful development of DIMA over the past 12 years. Along with representing industry to a diverse range of stakeholders through a period of significant regulatory change, Sarah has also built out the European Insurance Forum into a widely recognised industry event. We would like to extend our thanks to Sarah for her contribution to DIMA and wish her well in her new role.
We have begun a search for a replacement and would invite applications from interested parties by Friday 10th June, please find attached a description of the role and the skills and experience that the Board of DIMA believe are important for the role. All applications should be sent to Marco Nuvoloni, the Chairman of the Board at email@example.com
Full details of the job specification is available here
DIMA announces special collaboration with the Europe Chapter of the CPCU Society at the European Insurance Forum 2015 (EIF2015) – February 2015
We are delighted to announce a special collaboration with the Europe Chapter of the CPCU Society at the European Insurance Forum 2015 (EIF2015).
Sarah Goddard, Chief Exec of DIMA said “We are delighted to welcome and be able to work with the Europe Chapter of the CPCU Society at the European Insurance Forum 2015. We are particularly honoured to have Peter Miller join us and participate on our leadership panel discussion. We should not overlook the role of training and education in building a sustainable global re/insurance market and of a local business environment within which our members can operate efficiently.”
Peter Miller, CPCU, The Institutes President and Chief Executive Officer said “I am very much looking forward to meeting our CPCU Society delegates in Dublin at EIF2015. This event ties well with the CPCU Society’s commitment to providing resources, educational programs and leadership opportunities that attract talent and enable individuals to expand their technical insurance skills and business capabilities in order to improve the overall performance of the insurance industry while adhering to the highest ethical standards.
“In our interconnected global industry it is important that we lead the way to ensure we raise standards wherever our professionals are based” said Miller.
Full details of this press release are available here.
Dublin’s Captive Industry sees a return to growth – Sep 2014
Sarah Goddard, CEO of DIMA, spoke with Captive Review about the recent return to growth in the captive sector in Dublin. The article shows the progression of growth and other changes in the last twenty five years since the first reinsurance licence was issues and Sarah Goddard goes to state that:
We know there is not just an interest at the moment, but actually interest that is being converted into formations and companies setting up […] The whole area of Solvency II has given parent companies a lot to think about in how they are shaping their risk management programmes and what they want to do
International re/insurance conference to tackle seismic shifts impacting on industry: Dublin to build on 25 year history as global centre of excellence – Mar 2014
DIMA marked 25 years of re/insurance in Dublin by planting 25 Irish Oaks tin the Phoenix park. John Bruton was the guest of honour and his speech can be read on the IFSC Ireland website. The press release also announced the 2014 European Insurance Forum and its line up of key speakers. The event was covered in the Irish Examiner, Business & Leadership and the IFSC.ie website.
DIMA announces new Chairman – Feb 2014
DIMA announced the appointment of new Chairman Marco Nuvoloni who has replaced Stephen Devine. The full press release also announces the celebration of 25 years of the re/insurance sector in Ireland.
CEO of DIMA number 25 in Captive Power 50 – Dec 2013
Sarah Goddard, CEO of DIMA rose from 38th place (2012) to 25th place in the Captive Power 50. This global accreditation is awarded to individuals who contribute significantly within the captive community.
DIMA Board members elected at AGM, Report a successful 2012/13 – Jun 2013
DIMA announced the election of five directors to its board for 2013/14 and reported a successful 2012/13. Read the full article here.
DIMA joins newly established Global Federation of Insurance Associations – Oct 2012
In an annoucement yesterday the Global Federation of Insurance Associations (GFIA) was officially formed. DIMA joined GFIA along with thirty other insurance association bodies across the globe. Sarah Goddard, CEO of DIMA stated:
joining the GFIA as a founder member reflects the international focus of DIMA member companies. The GFIA is involved in many issues ranging from financial inclusion to trade issues, and it is important that the Irish international sector is involved in these and other developments
Launch of 2012 European Insurance Forum – Feb 2012
John Bruton spoke at the official launch of the 2012 European Insurance Forum which is hosted by DIMA. The launch took place in the Shelbourne Hotel which is this year’s venue for the conference on the 24th and 25th May 2012.
Sarah Goddard, CEO of DIMA is pictured with John Bruton which was featured in the Irish Independent’s business section on 9th February 2012.
CEO gives a talk to visiting students at Kemmy School of Business in UL and presents DIMA essay award – Nov 2011
The Kemmy Business School, University of Limerick, welcomed Sarah Goddard, CEO of DIMA, who gave a talk to students entitled “An overview of Ireland’s international re/insurance market”. Visiting faculty and masters students from the Cologne University of Applied Science,which is renowned in the area of insurance and risk management, also attended the talk.
Sarah Goddard presented Turlough Ryan, a graduate of BA International Insurance and European Studies, a €1000 prize for an essay on financial regulation and Sarah Goddard commented on the close links developed between the risk management programme at UL and DIMA:
Education is key to the industry’s future. DIMA has had a long and valuable relationship with the University of Limerick, and we are delighted to present the annual essay award to an outstanding student.