New CIMA Board Member Appointed

Cayman's financial regulator appointed Executive Garth MacDonald retired from the insurance company of its board of directors.

The Council cites Monetary Authority of the Cayman Islands, held in late March, was confirmed by the government this week.

Mr. MacDonald will replace Greenlight Re Brian Murphy, who was appointed to the board, but later said it was not able to serve because of other commitments.

Financial Services Minister Wayne Panton, which is responsible for overseeing the operations of the Monetary Authority of the Cayman Islands, said he was looking for someone with experience in the insurance industry to serve at the table "CIMA administration.

MacDonald served as CEO of Island Heritage Insurance 2007-2013, when he retired.

Before moving to the Cayman Islands in 1994, MacDonald worked with KPMG and international insurance group. He holds a degree in finance and accounting and accounting referee.