The Cayman Islands National Insurance Company
board has appointed former head of the Department of Employment Relations, Lonny
Tibbetts, as its new chief executive officer.
Mr. Tibbetts took up the position, which has
been vacant for two years, on Monday, 20 December.
The former Department of Employment Relations
director had been placed on required leave in February, pending the outcome of
an internal inquiry following allegations by departmental staff. The nature of
the inquiry has never been released.
According to a statement from the government
on Wednesday, 22 December, the Ministry of Education, Training and Employment
was preparing to reinstate Mr. Tibbetts as head of the Department of Employment
Relations, but he chose to move to CINICO instead.
“Prior to the appointment of Mr. Tibbetts as
Chief Executive Officer of CINICO, the Ministry of Education, Training and
Employment confirmed that the matter involving Mr. Tibbetts and that ministry
had been finalised with an agreed way forward, in preparation for his full
resumption of duties as Director of the Department of Employment Relations. The
ministry confirmed that the plan had been wholly embraced by both parties and
they had been working towards implementation,” the statement
The ministry’s chief officer Mary Rodrigues
said: “Now that Mr. Tibbetts has chosen to move on, I would wish to thank Mr.
Tibbetts for his contributions to the challenging and important work of the
Department of Employment Relations and wish him all the very best in his future
Chairman of the CINICO Board said the right
candidate for the position of CEO of the government insurance company had to
have “the right professional background, academic credentials and management
“It also had to be someone who has
demonstrated commitment to the Cayman Islands and its people. Mr. Tibbetts met
all of these important criteria,” he said. “Of course, we are particularly
pleased that we were able to fill the position with a Caymanian
He thanked CINICO’s general manager Carole
Appleyard and the company’s chief financial officer Frank Gallippi for managing
the company in the absence of a CEO.
Minister of Health Mark Scotland said of Mr.
Tibbett’s appointment: “I believe this appointment will be of great benefit to
CINICO as Mr. Tibbetts brings a wealth of experience and knowledge.”
Mr. Tibbetts previously managed a portfolio of
captive insurance companies for Marsh Management Cayman Ltd. before transferring
to the public sector where he worked as a senior insurance analyst for the
Cayman Islands Monetary Authority in the Insurance Division regulating Class A
and Class B insurance companies.
“These two posts furnished me with a unique
perspective of both sides of the table – that of the insurance manager as well
as the insurance regulator,” Mr. Tibbetts said.