CIMA names new head of insurance supervision
The Cayman Islands Monetary Authority (CIMA) has named Ruwan Jayasekera as head of its insurance supervision division, effective July 14.
Jayasekera has over 15 years of regulatory and insurance experience, and had first joined CIMA in 2007 as a senior analyst in the insurance supervision division, where he was later promoted to chief analyst.
After working for CIMA for a few years, he served as assistant general manager of business operations at Allianz Insurance Lanka.
In 2013, he returned to CIMA as deputy head in the insurance division.
Cindy Scotland, managing director of CIMA, said: “The search for a suitable candidate to fill the role as head of insurance has been ongoing for some time now due to a worldwide shortage of highly skilled and experienced persons in the field of insurance supervision, especially with the competitive salary/remuneration expectations.
“Having been appointed as Acting Head of Insurance for the past four months, Mr. Jayasekera has proven his ability to successfully lead the insurance supervision division with confidence.”
Kieran O’Mahony, chairman of the Insurance Managers Association of Cayman (IMAC), added: “We are extremely pleased with this announcement. Ruwan is highly regarded within the Cayman captive and re/insurance industry. Not only has he the qualifications, but he is a known, proven and experienced entity having worked closely with industry practitioners for many years.
“He has a proportionate and balanced approach to insurance regulation and supervision. He was and continues to be centrally involved in both the shaping of and the implementation of the insurance law and associated regulations and has consistently interacted with IMAC to ensure that industry’s view point is thoroughly considered. He has the intellect, the history and the determination to help drive Cayman’s captive and re/insurance industry forward.”
