The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has selected St Lucian Isaac Anthony as its first full-time chief executive officer, effective January 1, 2013.
His job is to strengthen relationships with government agencies across the region and oversee the development of new insurance products.
Previously, the job of CEO was done on a part-time basis by CCRIF executive chairman Milo Pearson.
Prior to this job, Anthony worked with the St Lucia government as permanent secretary of planning and national development. He also held other government positions, including accountant general, registrar of insurance, director of finance and permanent secretary for finance.
He already has a five-year association with CCRIF as the CARICOM-appointed director on CCRIF's board.
The post of chief executive officer for the insurance facility was created to strengthen its management structure, with the position being advertised back in July 2012.
All CCRIF's team members will now report to Anthony, who will operate out of offices in Barbados. The team members comprise Caribbean Risk Managers Ltd - the facility supervisor or main operational and risk manager; Sagicor Insurance Managers Limited - CCRIF'S insurance manager; London & Capital Ltd and EFG Bank, Cayman Branch - the asset managers; Guy Carpenter & Company LLC - reinsurance broker; and Sustainability Managers - the corporate communications manager.
CCRIF is a non-profit risk-pooling facility, owned, operated and registered in the Caribbean for Caribbean governments. It is designed to limit the financial impact of catastrophic hurricanes and earthquakes to Caribbean governments by quickly providing short-term liquidity when a policy is triggered.