CIMA insurance division appoints acting head

Morag Nicol has returned to the Cayman Islands Monetary Authority to temporarily serve as acting head of the Insurance Supervision Division, replacing Gordon Rowell. 

Mrs. Nicol, who has been hired for three months, will assist in the search for a permanent replacement for Mr. Rowell, the former head of the division, whose employment with the monetary authority ended in mid-April, CIMA said in a statement. 

Mr. Rowell had been on leave since September 2013.  

Mrs. Nicol worked with CIMA’s Insurance Division from 1998 to 2007, including as deputy head of insurance for five years and head of insurance during 2006/07. She also worked with the authority as an insurance consultant in 2009.  

Before joining CIMA, Mrs. Nicol worked for 10 years in the insurance industry in the United Kingdom and the Cayman Islands. She holds the designations of chartered insurer, associate of the Chartered Insurance Institute and certified fraud examiner, and she has a bachelor’s degree in mathematics and statistics.  

Her private sector work in the development of business risk profiling mechanisms, prior to joining CIMA, contributed to the development and implementation of the authority’s on-site inspection program. 

Cindy Scotland, CIMA’s managing director, said, “We are very confident that Mrs. Nicol is the right person to assist the authority in this transitional period. She is very familiar with the operations of CIMA, has a great deal of experience, and is well respected in the Insurance industry.” 

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Mrs. Nicol