2 September 2020Law & regulation

BMA promotes Gerald Gakundi to director of supervision for insurance

The Bermuda Monetary Authority (BMA) has named Gerald Gakundi as its new director of supervision for insurance, promoting him from his former role of deputy director of the group.

Gakundi has more than 15 years’ experience in the insurance industry. He joined the BMA in 2010 as assistant director of supervision for insurance before being promoted to deputy director role. He has assisted in the development and implementation of the BMA’s long and medium-term insurance supervision strategy and policy.

Gakundi will participate as a member of the BMA’s senior leadership team, contributing to the development and implementation of the regulator’s strategies and policies, with a specific focus on leading supervision of re/insurance licensed entities.

He is an active contributor in the BMA’s international engagement efforts, and led dialogue with the National Association of Insurance Commissioners (NAIC) executive, the European Insurance and Occupational Pensions Authority (EIOPA) and other insurance regulatory authorities.

Gakundi reports to Craig Swan, the BMA’s deputy chief executive officer, who praised Gakundi’s “long-lasting and impactful career at the BMA.”

Gakundi said: “My tenure at the BMA will be a resource for me to draw upon, and I am looking forward to working with my colleagues at the Authority as we continue to pursue our strategic and operational objectives.”