The Insurance Commission of The Bahamas (ICB) has announced the appointment of Michele Fields as the new Superintendent of Insurance.
Mrs. Fields is a member of the Institute of Chartered Accountants in England and Wales, having qualified with KPMG (formerly Peat Marwick Mitchell) in London, England in 1982. Upon her return to The Bahamas, she was admitted as a member of the Bahamas Institute of Chartered Accountants (BICA) and worked with KPMG in Nassau from 1982 to 1994. During this time she gained extensive experience in accounting, auditing, financial advisory and corporate finance in a wide range of industries.
Mrs. Fields joined the management team of Global Life Assurance Bahamas Ltd. (now Colina Insurance Ltd.) in 1994. During her tenure at Colina, she held the positions of Financial Controller, Chief Risk Officer, Vice President of Group and Corporate Administration and Company Secretary of the BISX-listed parent company. While there, she acquired a wealth of knowledge in the life and health insurance industry, business administration and company management.
In 2008, she established a consultancy practice providing accounting and business consulting services to companies in a range of industries, including insurance.
Mrs. Fields has served as a Commissioner at the Insurance Commission of The Bahamas since its inception in 2009. The ICB was established as the regulatory and supervisory body for the insurance industry. It is mandated to protect the interests of the policyholder and does so by ensuring its licensees conduct business in compliance with the legislation.
A news release from the ICB notes its confidence that the industry will reap benefits from Mrs. Fields’ experience and that it looks forward to working with the new Superintendent as it continues its efforts to strengthen and develop a vibrant and robust insurance industry.