BMA Appoints Gerald Gakundi Insurance Supervision Director

The Bermuda Monetary Authority (BMA) has appointed Gerald Gakundi director, supervision (insurance). Mr. Gakundi has more than 15 years' experience in the insurance industry.

After joining the BMA in 2010 as assistant director, supervision (insurance), Mr. Gakundi was subsequently promoted to deputy director.

Mr. Gakundi's extensive knowledge of Bermuda's insurance regulatory environment has allowed him to be an active contributor to the BMA's international engagement, including leading dialog with the National Association of Insurance Commissioners (NAIC), the European Insurance and Occupational Pensions Authority (EIOPA), and numerous other insurance regulatory authorities.

He also has assisted in the development and implementation of the BMA's long- and medium-term insurance supervision strategy and policy.

Reporting to Craig Swan, the BMA's deputy chief executive officer, Mr. Gakundi will participate as a member of the BMA's senior leadership team, contributing to the development and implementation of the authority's strategies and policies, with a specific focus on leading the teams supervising all (re)insurance licensed entities.

"We are delighted to welcome Gerald into this new role," Mr. Swan said in a statement. "He has built a long-lasting and impactful career at the BMA, and we know that his sharp perspective and depth of experience will continue to prove invaluable to both the credibility and evolution of insurance supervision in Bermuda."

"It is an honor to be appointed head of the department that I have been a member of for the last 10 years," Mr. Gakundi said in the statement. "My tenure at the BMA will be a resource for me to draw upon, and I am looking forward to working with my colleagues at the authority as we continue to pursue our strategic and operational objectives."