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At its first meeting under newly appointed Chair Saundra Bailey, on July 8, the Board of CCRIF SPC considered a full agenda of governance and operational matters, among them the Organization’s updated Strategic Plan to 2030, which the Board approved.
In her opening remarks to the Board and Management, Mrs. Bailey said, “This first meeting under our new Board leadership signals CCRIF’s continued commitment to strong governance, innovation and regional resilience. I look forward to working with my colleagues on the Board, the CCRIF management and wider team, our service providers, and our development partners to deliver meaningful impact for the people we serve.”
Mrs. Bailey, who assumed the chairmanship on 1 June 2026, was joined by newly appointed Deputy Chair, Dr. Michael Gayle, who has served on the CCRIF Board since 2019 and is Chief Executive Officer of the Cayman Islands National Insurance Company (CINICO). With more than 46 years of insurance experience, Dr. Gayle also serves as Chairman of the Management Committee of CWUIC SP, the Caribbean Water Utility Insurance Collective – one of the two management committees of the CCRIF Board, bringing deep sector expertise to CCRIF’s governance. Together, the appointments of Chair Bailey and Deputy Chair Gayle come at an important juncture for CCRIF and the region’s resilience financing agenda.
A Turning Point for Resilience Financing in the Region
The Board’s endorsement of the Strategic Plan to 2030 charts CCRIF’s course as the world’s leading development insurer. Born from crisis in 2007 and now nearly two decades into its work, CCRIF has grown from a sovereign risk pool into a systemic enabler of resilience, linking quick liquidity within 14 days of a natural disaster to development outcomes such as education continuity; health-system, tourism and agriculture recovery; safeguarding critical infrastructure; and protecting the most vulnerable. The Strategic Plan has five strategic objectives, spanning innovative parametric insurance products, member and stakeholder engagement, resilience and capacity building, scaling access to close the protection gap, and financial sustainability. It sets out five flagship initiatives to deliver impact at scale, including a regional data and modelling ecosystem and expanded last-mile delivery of protection to vulnerable communities.
In reflecting on the new board leadership he will work with in the coming years, CCRIF CEO, Mr. Isaac Anthony, added, “Chair Bailey and Deputy Chair Gayle bring deep technical expertise, considerable managerial experience and a shared commitment to resilience and equity. Together with the Board, we are focused on long-term change – anchored in innovation, expanded access and financial sustainability, so that parametric insurance becomes a widely understood and accessible tool for governments, utilities, other sectors and communities.”
At its first meeting under newly appointed Chair Saundra Bailey, on July 8, the Board of CCRIF SPC considered a full agenda of governance and operational matters, among them the Organization’s updated Strategic Plan to 2030, which the Board approved.
In her opening remarks to the Board and Management, Mrs. Bailey said, “This first meeting under our new Board leadership signals CCRIF’s continued commitment to strong governance, innovation and regional resilience. I look forward to working with my colleagues on the Board, the CCRIF management and wider team, our service providers, and our development partners to deliver meaningful impact for the people we serve.”
Mrs. Bailey, who assumed the chairmanship on 1 June 2026, was joined by newly appointed Deputy Chair, Dr. Michael Gayle, who has served on the CCRIF Board since 2019 and is Chief Executive Officer of the Cayman Islands National Insurance Company (CINICO). With more than 46 years of insurance experience, Dr. Gayle also serves as Chairman of the Management Committee of CWUIC SP, the Caribbean Water Utility Insurance Collective – one of the two management committees of the CCRIF Board, bringing deep sector expertise to CCRIF’s governance. Together, the appointments of Chair Bailey and Deputy Chair Gayle come at an important juncture for CCRIF and the region’s resilience financing agenda.
A Turning Point for Resilience Financing in the Region
The Board’s endorsement of the Strategic Plan to 2030 charts CCRIF’s course as the world’s leading development insurer. Born from crisis in 2007 and now nearly two decades into its work, CCRIF has grown from a sovereign risk pool into a systemic enabler of resilience, linking quick liquidity within 14 days of a natural disaster to development outcomes such as education continuity; health-system, tourism and agriculture recovery; safeguarding critical infrastructure; and protecting the most vulnerable. The Strategic Plan has five strategic objectives, spanning innovative parametric insurance products, member and stakeholder engagement, resilience and capacity building, scaling access to close the protection gap, and financial sustainability. It sets out five flagship initiatives to deliver impact at scale, including a regional data and modelling ecosystem and expanded last-mile delivery of protection to vulnerable communities.
In reflecting on the new board leadership he will work with in the coming years, CCRIF CEO, Mr. Isaac Anthony, added, “Chair Bailey and Deputy Chair Gayle bring deep technical expertise, considerable managerial experience and a shared commitment to resilience and equity. Together with the Board, we are focused on long-term change – anchored in innovation, expanded access and financial sustainability, so that parametric insurance becomes a widely understood and accessible tool for governments, utilities, other sectors and communities.”
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