CIMA appoints reinsurance specialist

The Cayman Islands Monetary Authority appointed Peter Fox as reinsurance specialist in its Insurance Supervision Division on June 8.

Mr. Fox, who has 46 years’ experience in the insurance industry, is primarily responsible for assisting with the development of new reinsurance/insurance regulations, supporting on-site inspections of reinsurance licensees, and assessing reinsurance programs and other risk factors of insurer license applicants.

He is also tasked with identifying and conducting investigations on complex and serious regulatory risk management issues of licensees.

Before joining the authority, Mr. Fox worked at various organizations within the U.K., including KPMG, Riverstone Management, Aon Insurance Brokers, the U.K. Actuarial Profession, and American International Group. He has experience in audit consulting, pricing support for underwriting, corporate financial planning, group reserves, Solvency II claims, reinsurance risk, mergers and acquisitions, and pensions and life assurance.

He is also a Fellow of the Institute of Actuaries.

CIMA’s Managing Director Cindy Scotland said, “The success of the Authority relies upon the quality of expertise among our staff. As such, we are pleased to welcome Mr. Fox to our team.”

“I am confident that Mr. Fox will provide significant contribution to the Authority which will aid in the ongoing development of effective supervision and regulation of the local insurance industry,” she added.

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