New Insurance Boss at FSRC

Derek St Rose has been appointed to the position of Superintendent of Domestic and International Insurance at the Financial Regulatory Services Commission (FSRC).

St Rose assumed the position effective September 2, after passing what the FSRC calls a “rigorous” recruitment process that ended in April this year.

Supervision of the local insurance industry was brought under the FSRC’s remit in April 2009, when Parliament passed a new Insurance Act.

This came in the wake of the bankruptcy of the British American Insurance Company Ltd (BAICO).

A statement from the FSRC stated that the new superintendent of insurance brings to the commission over 22 years of experience and training in financial services regulation and supervision.

He holds an MBA in Finance from Charles Strut University in Australia, a post-graduate diploma in management and e-commerce from the London School of Commerce, and a BSc in Management Studies from the University of the West Indies (Mona).

St Rose is also an associate of the Toronto International Leadership Centre for Financial Sector Supervision in Canada.