Former Head of Insurance Rejoins CIMA in Acting Capacity

GRAND CAYMAN (Wednesday, 23 April 2014) Morag Nicol has returned to the Cayman Islands Monetary Authority (CIMA) to serve as acting Head of the Insurance Supervision Division.  Her appointment is effective Thursday, 24 April 2014. 

Mrs. Nicol has been engaged for a period of three months in this capacity.  Part of her remit during this time will be to assist in the search for a permanent replacement for former Head, Gordon Rowell, whose employment with CIMA ended in mid-April.

She is no stranger to CIMA. Mrs. Nicol previously worked with CIMA's Insurance Division from 1998 to 2007, including as Deputy Head of Insurance for five years and Head of Insurance during 2006/07.  She also worked with the Authority as an insurance consultant in 2009.

Before joining the Authority in 1998, Mrs. Nicol gained ten years' experience in the insurance industries of the United Kingdom and the Cayman Islands. She holds the designations of Chartered Insurer, Associate of the Chartered Insurance Institute and Certified Fraud Examiner, as well as a B.Sc. in Mathematics and Statistics. Her private sector work in the development of business risk profiling mechanisms, prior to joining CIMA, proved invaluable in the development and implementation of the Authority's on-site inspection programme.

Managing Director, Mrs. Cindy Scotland, said, “We are very confident that Mrs. Nicol is the right person to assist the Authority in this transitional period. She is very familiar with the operations of CIMA, has a great deal of experience, and is well respected in the Insurance industry.”