Bron Turner
Director
Financial services audit at KPMG in Bermuda
Personal bio: For the past seven years, I have resided in Bermuda. From my accent, you would know I hail from South Africa. I am passionate about learning, personally knowing more and sharing that with clients and colleagues. People interest me.
I am enjoying creating the path for people to be their most successful selves, to work to their strengths, expand their comfort zone and to ultimately achieve beyond their expectations. Watching those I work with have success and knowing I played even a small part in that is fantastic. It is important to me to be accessible, to spotlight my energy on delivering on promises and contributing to a consistent standard of excellence.
Professional profile: I have over 10 years of experience providing audit and advisory services to a variety of industries, and have been based in South Africa, London and Bermuda. I have a Bachelor of Commerce - Accounting (Honours) from the Nelson Mandela Metropolitan University in Port Elizabeth, South Africa (previously University of Port Elizabeth) and I’m a CA(SA) and certified public accountant.
Since joining KPMG in Bermuda in 2013, My focus has been on insurance, reinsurance, and captive clients. My experience in the captive sector covers all structures across various traditional and emerging risks and I was a panellist at the Bermuda Executive Forum in Miami, speaking on captive solutions, strategies and innovations. I have also had the privilege of leading global multi-disciplinary and multi-location engagement teams.
How did you end up in the captive industry?
There are many reasons why I chose to come to Bermuda, but the key reason was its reputation as a world-leading financial services jurisdiction. Little did I know that Bermuda was, and still is, the leading captive domicile.
As a leading service provider, KPMG has afforded me the opportunity to work on a wide range of (re)insurance clients including captives. And having taken up a leadership role in the captive sector, I have the privilege of working closely with key stakeholders across the island, and globally.
What has been your highlight in the captive industry so far?
That’s a great question as I’ve been fortunate enough to have been involved in captive incorporations in new industries such as cannabis and crypto. However, the highlight for me has been working with Butler University’s student-run captive. I’m a big supporter of ‘on-the-job’ learning, and what better way to learn how this industry works than incorporating and running your own captive insurance company.
I have the pleasure of hosting the students every year for an educational ‘lunch & learn’ session and it’s been fantastic to see how engaged they are and the ideas they bring to the table clearly demonstrates the value of practical learning
What/who have been your influences in the captive industry?
I think the Bermuda marketplace has been my biggest influencer. As the largest captive domicile in the world, Bermuda has provided me with the opportunity to see some incredible, innovative solutions. I’m able to collaborate with industry professionals that cover all aspects of a captive’s lifecycle, and witnessed first-hand the pragmatism of the regulator bringing innovative solutions and tailored regulation to the market. It’s an exciting space to be working in right now.
What is your impression of the industry?
Agile, able to adapt quickly, innovate and stay current.
What are your aspirations for your career in the captive industry?
Captive sector lead at KPMG in Bermuda and KPMG Islands Group; working closely with industry professionals across all service providers promoting the captive concept globally and educating aspiring professionals on the role a captive insurance company can play in an organisation.
What advice do you have for someone considering a role in the industry?
Captives are a critical risk management tool for all types of companies.
As insurance rates harden, more companies are turning to captives to ease pressure on premium spend while retaining insurance protection and f inancial flexibility. Existing captive owners are re-looking at ways to better manage their current captive to its full potential. The opportunities are quite endless for anyone willing to think beyond the traditional.
David Shead, assistant vice president, professional liability, Markel Speciality “I worked with Bron as our external auditor for multiple years. I found him to be highly responsive and open in his communications with us, which was critical in ensuring there were no surprises. He is receptive to feedback and seeks to make the process better each time. His technical knowledge of US Generally Accepted Accounting Principles and SOX matters allowed for a collaborative exchange of ideas and positions and was highly valued throughout the audit process. A key component of our audit was the management of multiple jurisdictional audit teams. Through regular meetings and discussions, Bron managed those other teams successfully and kept us up to date on the status of the work. Bron was proactive in identifying possible issues or bottlenecks and worked with us and the other audit teams to resolve any matters in a timely fashion.”
