Lonny Tibbetts, the longtime CEO of government’s health insurance company CINICO, has been summarily fired.
Mr. Tibbetts’s dismissal was announced Monday afternoon in a two-line press release signed by the company’s “board of directors,” which gave no information or explanation for the decision.
The statement, sent out through Government Information Services, simply stated, “Unfortunately, as a result of information which recently came to the attention of the Board of Directors and which has been investigated, a decision was taken to terminate the employment of the CEO of CINICO with immediate effect. The Board of Directors does not propose to make any further comments at this time.”
The statement did not include any details on what the information was, who had carried out the investigation or what its findings were. Patricia Estwick, chair of the CINICO board of directors, declined to answer any further questions on the matter and hung up the phone on the Cayman Compass when asked to clarify if the CEO had been accused of criminal wrongdoing.
A Royal Cayman Islands Police Service spokesperson confirmed that Mr. Tibbetts had not been arrested for any offense.
The Anti-Corruption Commission declined to comment.
Mr. Tibbetts told the Compass his attorneys would be issuing a statement shortly, though none had been received by press time Monday.
Health Minister Dwayne Seymour could not be reached Monday afternoon. He replied to Compass calls on the matter with a text message saying he was in a meeting.
Mr. Tibbetts has been CEO of the government’s insurance company since December 2010. Immediately before that, he had been on enforced leave from the Department of Employment Relations, at which he had been director, because of an internal inquiry following allegations by departmental staff. A government statement at the time said he was about to be reinstated as director of the Department of Employment Relations when he accepted the CINICO job.
The post of CEO of CINICO had been vacant for two years before Mr. Tibbetts took up the post.
Before entering the public sector to work as a senior insurance analyst for the Cayman Islands Monetary Authority, Mr. Tibbetts had managed a portfolio of captive insurance companies for Marsh Management Cayman Ltd.
CINICO covers more than 15,000 Cayman Islands residents, including all civil servants, civil service pensioners and their families.
The statement about Mr. Tibbetts’s dismissal was signed “the board of directors.” According to CINICO’s website, the current board of directors are Patricia Estwick, Janet Sairsingh, Dr. George Meggs, Anne Owens, Darlee Ebanks, Betty Baraud, Roger Corbin and Dwight Merren.