Global Captive Management
Charlene Tilbanie from Global Captive Management speaks to Diana Bui about her passion for healthcare and non-profit captives in the Cayman Islands
Could you share any insights or experiences you have had in the captive insurance industry? What types of companies have you assisted in captive formation, and what specific risks were they aiming to protect against?
Over the past decade, my focus has largely been on healthcare captives, and it has been fascinating to observe how healthcare systems are adapting to the industry's shifting landscape.
Some captives have merged in response to the consolidation of their parent systems, while others have expanded the types of risks they cover.
Initially focused on medical professional liability, many now also provide coverage for cyber risk, property risk, and directors and officers liability.
Additionally, several healthcare captives have increased their limits on medical professional liability to better manage the growing risk of large verdicts.
How has your previous experience prepared you for your current role?
I previously worked as an auditor in the financial services sector, and then specifically in the captive insurance industry.
Exposure to several clients in both sectors provided me with invaluable technical knowledge about the inner workings of banks, investment institutions, and various captive models.
In addition to this, I learnt soft skills such as relationship management, presentation skills, time management skills, and effective leadership — all of which have helped me as I have progressed to the vice president position.
Based on your experience, what would you say are the key benefits of working in this industry? Can you name your main influences in the industry?
You can never be bored! The myriad of captive models, client requests, new regulatory standards, and emerging risks keep the industry dynamic and interesting. The opportunities to meet people from varying backgrounds with different experiences are also a big plus.
I am fortunate to work at a company that strongly believes in mentorship, where several individuals have invested in my career. All have played a role in providing guidance, advice, and support along my captive insurance journey.
What are your aspirations for your future career in the industry?
I have a strong passion for healthcare and non-profit captives, and I aspire to assist these organisations as they explore innovative coverages and strategies to better serve their communities. My goal is to continue to deepen my understanding of these industries and become a subject matter expert, particularly as they face new risks like AI.
What advice do you have for someone considering a role in captive insurance?
Jump right in! The captive industry is a diverse and constantly evolving industry where no two days are ever the same. There are many areas one can specialise in — accounting, auditing, compliance, regulation, actuarial services, risk management — just to name a few. Additionally, several captive models are currently in existence, while others are in the process of creation.
Personal bio
Charlene joined Global Captive Management (GCM) as an account executive in May 2010, bringing experience from PwC Jamaica and KPMG in the Cayman Islands. Charlene's career at GCM has been primarily focused on the healthcare captive practice. In her role as vice president, she is the client lead for several of GCM's largest non-profit healthcare systems and university hospital captives.
A native of Jamaica, she holds a bachelor’s degree in accounting and management studies from the University of the West Indies and completed the Association of Chartered Certified Accountants (ACCA) qualification in 2004. She moved to the Cayman Islands in January 2009.
In her free time, Charlene enjoys spending time with her husband and baby son. She also loves to read and tries to complete a personal ’52 Books, 52 Weeks’ challenge each year. In addition, she volunteers as an assistant director of the AudioVisual department at her church. She also serves as the financial controller for the Cayman Food Bank, Grand Cayman’s sole centralised food bank.
Industry recommendation
“In 2023, Charlene moved into the role of vice president — client lead at GCM, and she hasn’t looked back. Not only has she stepped up to be the key relationship leader for several large GCM clients, but she has continued to mentor and share her knowledge and expertise with the GCM team.
"The team looks up to Charlene for guidance and mentorship, and, as such, it is only fitting that she heads up GCM’s internal training and development programme. The recognition of Charlene as an emerging talent fills us with delight. The team at GCM has long acknowledged this fact, and we're thrilled that Captive Insurance Times and its readership are now acknowledging it as well. Congratulations, Charlene!”
Alanna Trundle
President
Captive Management
