The Board of Directors of the Insurance Corporation of Barbados Limited (ICBL) today announced the appointment of Geoffrey Scott as its chief executive officer, with immediate effect.
Scott joins the company with over 25 years experience in the financial services sector.
His most recent role was as managing director of Caribbean Recovery Group, before which he was chief risk officer at CIBC First Caribbean International Bank.
In welcoming Scott’s appointment, John Wight, chairman of the Board of ICBL, said: “Geoff brings a deep understanding of financial and business risks, along with invaluable experience in implementing best practice risk management systems. His track record of balancing strategic vision and customer focus will serve the company well. He is highly regarded in the market and we are pleased to welcome him to ICBL.”
Since the resignation of Ingrid Innes last January, Goulbourne Alleyne has been serving as acting CEO of the Bermuda-based insurance company, which subsequently offered voluntary separation packages to a number of its employees as part of internal restructuring that resulted in major payouts.
No up-to-date financial figures are available, but in its 2015 report the well-capitalized company had boasted of shareholders’ equity in the amount of $149.1 million and an investment portfolio in excess of $223 million.