20 July 2016Cayman analysis

CIMA appoints head of insurance division

The Cayman Islands Monetary Authority (CIMA) has named Ruwan Jayasekera as head of its insurance supervision division, effective July 14.

With over 15 years of regulatory and insurance experience, Jayasekera had first joined CIMA in 2007 as a senior analyst in the insurance supervision division, where he later moved up to chief analyst.

After a few years of working at CIMA, he held the position of assistant general manager of business operations at Allianz Insurance Lanka.

In 2013, he returned to CIMA as deputy head in the insurance division.

“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 high skilled and experienced persons in the field of insurance supervision, especially with the competitive salary/remuneration expectations,” said Cindy Scotland, managing director of CIMA.

“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.