Thursday, March 25, 2010

BVI FSC Announced Appointment of New Deputy Director, Insurance

The British Virgin Islands Financial Services Commission announced the appointment of Mr. Harry Whitcher as Deputy Director, Insurance, with effect on 1 February, 2010. As Deputy Director, Insurance Mr. Whitcher will be primarily responsible for insurance regulation in the BVI, and is a direct report of the Acting Director of Insurance Sector Mr. Elton Lettsome, who was appointed at this position in June 2008.

Mr. Whitcher's work experience included insurance regulation in two jurisdictions focusing on such items as compliance, liability, commercial lines, property, life assurance underwriting and sales. Mr. Whitcher served as the Deputy Director of Insurance for the Bermuda Monetary Authority where he was a member of the Executive Committee responsible for providing overall strategic direction and technical leadership to the BMA.

Mr. Whitcher commented on his appointment: “I am excited by this new position as the Commission commences administration of new Insurance legislation. I look forward to assisting the Commission in the promotion of the highest standards of regulatory enforcement and in strengthening its supervision of the insurance sector.”

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