The Insurance Managers Association of Cayman (IMAC) has appointed Razaak “Raz” Busari as deputy head of the Insurance Supervision Division.
Busari officially started in his post June 22, 2015, bringing with him more than 15 years of experience and expertise in the financial services industry, including relevant regulatory posts in the UK’s Financial Services Authority and the Qatar Financial Centre Regulatory Authority, where he spent nine years as associate director.
Busari has a BA English from the University of Ibadan, Nigeria, a Bachelor of Laws degree from the University of North London and a post-graduate diploma in Islamic Banking & Insurance.
IMAC Chairperson Kieran O’Mahony welcomed Busari by saying: “on behalf of IMAC and all of its members, I extend a warm welcome to Mr. Busari. We are looking forward to working with him to continue enhancing the Cayman Islands insurance offering through sound, appropriate, risk based regulation as well as regulator-industry engagement, which has been the cornerstone of Cayman’s success story heretofore.”
In operation since 1981, IMAC is a non-profit organization run by the insurance managers of the Cayman Islands. IMAC’s aim is to act as a regulatory liaison with the Cayman Islands government and to promote the Cayman Islands as a domicile for captives.
Source: Insurance Managers Association of Cayman
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