Bermuda to Australia / Tracy Peterson

Bermuda to Australia

We were fortunate enough to get the opportunity to relocate to Bermuda in 2008. The timing was perfect family wise, and the opportunity was perfect career wise: an offer to work for one of the world’s largest reinsurer’s, in an office with a global mandate. Figuring it was an opportunity not to be missed, we packed ourselves up and off we went, thinking we would probably live overseas for 5 or 6 years before coming home. Little did we know how quickly time would pass us by….10 years later we realised it was probably time to come home.


The decision to relocate proved to be the right one. During the time spent working in Bermuda, I was fortunate enough to work across the globe, with the role varying enormously during my time there. I had the opportunity to work on business in Bermuda (of course), the US, UK, Ireland, South Africa & APAC, from the traditional lines we know in Australia, to others such as longevity business. Longevity was not something that had registered on my radar previously, however once given the opportunity to work on that line, there was no looking back, it opened my eyes to the amazing opportunity that awaits our industry in the era of a global ageing population.


Working globally was a great education into the different market forces affecting our industry across various regions. We have of course much we can learn from other regions, at the same time we do also need to be mindful of the different factors that result in something working in one region, yet not another. A good example of this is the local regulatory environment, which can vary enormously from one region to the next of course.

The office in Bermuda was a great experience in working with different cultures: I was one of 10 different nationalities in a relatively small team. That was quite the eye opener, I quickly learnt the benefits that come with having so much diversity in the team (and also how much slang we have in Australia, something I had not been mindful of previously!)

An added bonus to the role were the connections I made with colleagues around the globe, many of which have become very dear friends, and will always remain so. It was an amazing opportunity for the family – our daughter Grace was only 4 when we relocated, so all of her schooling until now has been overseas, a positive of this are the connections she has made with friends now spread around the globe. Bermuda has a fairly transient population of expats, so friends Grace made in Bermuda, are now located in the US, UK, Canada. Grace picked up an accent in her time away, much to her distress – she is desperate to get her Australian accent back!

I have to mention the travel, of course. The role involved a lot of travel, an opportunity I am extremely grateful to have had. As a family we also did a lot of travelling –  Bermuda is only a 2hr flight to the east coast of the US, 6hrs to London. We have had 10 years of travelling to some amazing locations, getting to sample the foods and cultures of places I never anticipated seeing. Nobody does sport quite like they do in the US – the atmosphere at an NFL, baseball, basketball or ice hockey game is something to behold.

Whilst the decision to relocate to Bermuda had been a very easy one, the decision to come home was a tough one. It was however time to do so, and we are all delighted to be back & settled in Australia. Moving a 14yo girl is never going to be easy, fortunately Grace has settled in well and made some very good friends, an enormous relief. My husband can’t wait to get to some of his beloved Roosters’ games this year, and I continue to be extremely grateful, now having an opportunity to work on longevity business, along with continuing to work in a global capacity. We are incredibly lucky to have the opportunity to work in this industry, I truly feel it is a privilege.

Tracy Peterson

Tracy Peterson – Commencing in the industry as a Financial Services Trainee with MLC in 1991, Tracy soon thereafter discovered the role of an Underwriter and was fortunate to be offered an Underwriting Traineeship with MLC. Having spent time since working in both the retail and reinsurance environments, Tracy became the Chief Underwriter for Hannover Life Re Australasia in 2006, moving to Bermuda with the group in 2008.

During her tenure as the Chief Underwriter in Bermuda, Tracy worked across multiple business lines around the globe and has been involved in tasks such as product development, portfolio management, operational risk management, automated underwriting, guideline development, collaborating with peers around the globe to help deliver quality services and strategic objectives. Auditing and presenting internationally, Tracy has been a plenary speaker at industry meetings internationally.

Having had the opportunity to be involved in longevity business whilst in Bermuda, Tracy developed a passion for this space & the ageing population, the opportunities this presents to our industry and the social good we can do by working to develop solutions for the ageing population. Governments across the globe are increasingly looking to our industry to develop solutions to cater to the ageing population, we have the expertise to do so. Having obtained a Bachelor of Business (Economics) & FALU, Tracy’s interest in the ageing population lead her to obtain a Master of Gerontology.

Married to Scott for 25 years, Tracy has a 14yo daughter Grace & a 4 legged daughter Daisy the English Staffy. When not at work you will find Tracy on or in the water somewhere warm.