At a handover ceremony on Wednesday (April 23), the Insurance Association of Jamaica tapped Rosemarie Henry as its newest president.

Henry, the head of risk, compliance and data privacy at CUNA Caribbean Insurance, served as the IAJ’s vice-president of life insurance for the last three years and will now replace outgoing president Sharon Donaldson of General Accident Insurance Company.

She has over 30 years of experience in finance compliance and insurance regulations, including her oversight of regulatory programmes, strategic compliance and risk initiatives across several Caribbean jurisdictions.

The appointment of Henry as president sees the IAJ making its presidential rotation from a representative of general insurance to a health and life insurance practitioner.

“It is an honour to lead the Insurance Association of Jamaica,” she remarked in her acceptance of the role.

“I look forward to working closely with our members to strengthen industry collaboration, enhance public trust, and ensure that our sector remains resilient, innovative, and responsive to the needs of the Jamaican people,” Henry continued.

Henry’s appointment signals “a renewed focus on industry-wide engagement, regulatory excellence, and sustainable growth”, according to the IAJ.

Welcoming her successor, Donaldson Levene, in handing over, expressed confidence that the association will continue to grow and thrive despite emerging cybersecurity threats and global digitisation. Additionally, she highlighted the growing impact of disruptive technologies such as artificial intelligence and new patterns in climate change that have resulted in frequent catastrophic events.

“Not all risks can be avoided; insurance is one way to reduce the impact of a loss caused by a hazard. As we increase our dependence on connectivity and exposure to security vulnerabilities, there is still much to do, such as insurance literacy. What are the solutions — product innovation and predictive data analytics to help with risk management?” Donaldson Levene asked.

“Our new president is ready to chart the pathway to industry viability, and with the help of everyone, I am confident we will make it,” she continued.

New executive director

Donaldson’s handover of the IAJ presidency to Henry coincides with the announcement of IAJ executive director Orville Johnson’s retirement. Having served the association for the last 17 years, Johnson passes the baton to Everton McFarlane, who assumed the role with effect on March 11.

McFarlane brings to the IAJ a portfolio of contributions to transformative national initiatives that impacted the financial sector. Among them, he helped with the creation of growth-inducing strategies and development of an economic structural reform agenda while at the Planning Institute of Jamaica, implementation of tax reforms at the Ministry of Finance and Public Service, and introduction of risk-based supervision at the Financial Services Commission of Jamaica.

“His ability to align public policy with private sector development has been a hallmark of his leadership,” the IAJ stated, adding that it “looks forward to Mr McFarlane’s leadership in strengthening the association’s role as the ‘Voice of the Insurance Industry’ and deepening its engagement with members, stakeholders and the wider public”.

The IAJ also expressed heartfelt gratitude to Johnson for his nearly two decades of service. Johnson will continue to serve as an advisor to the IAJ secretariat.