Cayman First has announced the retirement of its president and CEO Danny Scott.
Mr. Scott has been with the company since its inception in 1984. Since Sagicor General Insurance was acquired by Bahamas First in June this year, he assisted the executive management team in the transition for customers and staff and the introduction of the new Cayman First Insurance Company Ltd brand to the market.
His retirement becomes effective on the 31st December 2010.
Scott started his career in Jamaica, where he worked for a number of years before returning home to Cayman in 1982. He is the former president of the Cayman Islands Insurance Association, past director of the Insurance Association of the Caribbean, and he serves on several boards, including the Cayman Islands Business Staffing Plan Board of which he is currently chairman. He was also the chairman of the Board of Governors for the Community College of the Cayman Islands, which became the University College of the Cayman Islands under his chairmanship.
Mr. Scott will continue to serve as deputy chairman on the board of Cayman First.
“I feel a great sense of accomplishment that the Bahamas First acquisition and the implementation of the new Cayman First brand were both executed seamlessly,” said Mr. Scott. “I believe it’s now time to take the company to a new level, and it is with great confidence that I hand over the reins of Cayman First as a financially strong, stable and customer centric company to my colleague Michael Gayle, who has contributed considerably to the leadership team.
“After so many years in the insurance industry here in Cayman, I am looking forward to retiring and improving my golf handicap.”
Michael Gayle, who has served as Cayman First’s senior vice president for the past three and a half years, has been appointed the new general manager from 1 January, 2011.
Mr. Gayle has been a guest lecturer on various insurance topics at the University of the West Indies and the University of Technology in Jamaica, and has lectured students both in Jamaica and in Cayman, who are preparing for their professional insurance examinations. He is a past director of the Insurance Institute of Jamaica, a former president of the Cayman Islands Insurance Association and currently serves as its vice president.