Bailey becomes chair at CCRIF
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has announced the appointment of Saundra Bailey (pictured) as chair of its board of directors, effective 1 June 2026. Bailey, who up until recently served as deputy chair of the board and currently chairs the CCRIF's Central America Management Committee, succeeds Timothy Antoine, after nearly eight years of distinguished service as chair.
According to the CCRIF Bailey brings a unique perspective to the role, having contributed to the pioneering work that informed the development of parametric insurance in the Caribbean and ultimately led to the establishment of CCRIF. Today, CCRIF serves 39 members across the Caribbean and Central America, including governments, water utilities, electric utilities and other public entities, providing innovative financial protection against natural hazards and climate-related risks.
Her appointment comes at an important juncture as CCRIF advances the implementation of its Strategic Plan 2025–2030, an ambitious roadmap designed to expand coverage, deepen impact and strengthen resilience across the region.
Bailey's association with CCRIF dates back more than two decades. Following Hurricane Ivan in 2004, Caribbean governments worked with the World Bank and other partners to identify innovative solutions for rapid post-disaster financing. At the time, Bailey served as chief operations officer of CGM Gallagher Group and was part of the team that helped develop the concepts of parametric insurance and the captive insurance structure that ultimately became CCRIF. She also had joint oversight of CaribRM, CCRIF's first Facility Supervisor and a former subsidiary of the CGM Gallagher Group.
A retired insurance executive with more than 30 years of leadership experience in insurance, captive management, risk management and corporate governance, Bailey has served on the CCRIF Board since July 2018 and became deputy chair in January 2024. She currently serves on several public and private sector boards throughout the Caribbean and is widely respected for her strategic insight, governance expertise and commitment to regional development.
“I am honoured to serve as chair of CCRIF at this pivotal moment in its development,” said Bailey. “Over the next five years, we have an opportunity to expand our impact, strengthen partnerships and ensure that innovative risk financing solutions continue to protect lives, livelihoods and advance development prospects across the Caribbean and Central America. I look forward to building on the strong foundation established by Chairman Antoine, working closely with our Board, management, staff, service providers, members and partners to advance resilience, equity and sustainable development throughout the region."
As chair, Bailey will lead the Board in providing strategic oversight and governance as management implements CCRIF's Strategic Plan 2025 - 2030. Key priorities include expanding parametric insurance solutions for new hazards and sectors, increasing protection for vulnerable households and communities, leveraging data and emerging technologies to strengthen resilience, and developing innovative financing solutions and partnerships to help close the region's protection gap.
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