New CINICO CEO
After remaining vacant for two years, the post of Chief Executive Officer of the Cayman Islands National Insurance Company (CINICO) was finally filled when Mr. Lonny Tibbetts took up the position this Monday (20 December).
The appointment was made by CINICO's board after an extensive recruitment process.
"It was important to find a candidate with the right professional background, academic credentials and management experience. 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," commented Board Chairperson Scott Cummings.
"Of course, we are particularly pleased that we were able to fill the position with a Caymanian candidate."
Mr. Cummings also 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 the Hon. Mark Scotland, JP endorsed Mr. Tibbetts' appointment: "I believe this appointment will be of great benefit to CINICO as Mr. Tibbetts brings a wealth of experience and knowledge."
Mr. Tibbetts gained first-hand knowledge of the insurance industry through managing a portfolio of captive insurance companies for Marsh Management Cayman Ltd. He later transferred to the public sector where he worked as a senior insurance analyst for the Cayman Islands Monetary Authority in the Insurance Division regulating both 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.
In 2008, Mr. Tibbetts became the Director of the Department of Employment Relations where mandated the use of a case management database for the Labour Inspectorate Unit, linked the Immigration Department with the unemployed persons' database and implemented a number of internal policies and procedures to improve the efficiency and effectiveness of the department.
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 Chief Officer Mary Rodrigues stated "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 endeavours."
Mr. Tibbetts has an associate degree from the University College of the Cayman Islands (UCCI) and a bachelor's degree in accounting from the University of South Florida.
He holds a master's degree in business administration from the International College of the Cayman Islands (ICCI) and is about to complete a second master of science degree in management with a focus on human resource management. He is also a designated Certified Anti-Money Laundering Specialist (CAMS).
For further information contact: Cornelia Oliver