After an eight-month search, Caribbean Assurance Brokers has finally filled its chief executive officer (CEO) vacancy.

The new CEO is Sheraley Bridgeman and her appointment took effect on January 3, 2024. She replaces another female, Tania Waldron-Gooden, who resigned on April 30 last year.

The company has taken the opportunity to wish Bridgeman all the best in her capacity within the organisation. In the meantime, Caribbean Assurance Brokers has made a profit of J$56-million for its September 30, 2023 year-to-date performance.

This represents a J$48 million or 47 per cent reduction over the prior year and is mainly attributable to commission adjustments to the International Comprehensive Health Insurance Programme (ICHIP), designed to enhance its sustainability.

In effect, there has been a 40 per cent reduction in the programme’s renewal commission rate. This has been matched by a corresponding 40 per cent increase in its new business rate, with the expressed intention of incentivising the production and consistent growth of new business.