The Bermuda Monetary Authority has appointed Andrew Gibbs to the position of director of supervision for insurance.
Gibbs will report to Craig Swan, managing director of supervision.
Swan said: “We are delighted to attract staff with decades of business experience and technical expertise, such as Gibbs, in order to continue the effective implementation of a forward-looking risk-based supervisory framework that addresses the unique characteristics of Bermuda’s financial sector.”
Gibbs said: “I am pleased to be joining the authority at such a pivotal time for global regulatory change in the insurance and reinsurance industry. I am looking forward to working with my colleagues at the authority as we continue to build out the regulations here in Bermuda, as well as in ensuring that our practical risk-based approach to regulation continues to earn full credit in relation to global equivalency efforts.”
For the past five years, Gibbs has held positions at Validus Holdings Ltd as executive vice president and head of internal audit following a period as the company’s group controller. Prior to that, he spent 12 years with the ACE group of companies as CFO of ACE Global Re as well as chief financial and operating officer of ACE Bermuda.
