New Insurance Association of Jamaica (IAJ) executive

Paul Lalor has been elected president of the Insurance Association of Jamaica (IAJ), succeeding Jacqueline Sharp, whose tenure ended in April.

The president is normally elected to serve for a two-year period, but Sharp, who switched jobs last year - from running Scotia Jamaica Life Insurance Company to become chief financial officer of the parent company, Scotia Group Jamaica Limited - resigned from the post.

The IAJ is known as the voice of the insurance industry, coming out of a merger in 2005 between the Jamaica Association of General Insurance Companies and the Life Insurance Companies Association of Jamaica.

growth and development

The presidency of the IAJ alternates between the two sectors.

The president of the IAJ is supported by two vice-presidents - one representing life, and the other representing the general industry - as it carries out its mandate to support the growth and development of the insurance industry by lobbying on issues that affect the industry, encourages ethical conduct among members, and provides information for decision making, as well as avenues for addressing concerns.

At its annual general meeting held on April 14, Lalor, the president of the Insurance Company of the West Indies, who also previously held the post of vice-president of general insurance, was voted into the top post.

vice-presidents

Richard Byles, president and chief executive officer of Sagicor Life Jamaica, continues to serve as vice-president for life and health, while Karen Bhoorasingh, general manager of West Indies Alliance Insurance Company Limited, was elected vice-president with oversight of general insurance.

Eric Hosin, president of Guardian Life Limited, has also been added to the board of directors. Hosin was appointed president of Guardian Life after the departure of Earl Moore last year.

One board position from the life sector, vacated by Sharp, is still to be filled.

sabrina.gordon@gleanerjm.com