CCRIF SPC, a regional risk pooling organisation that provides parametric insurance to Caribbean and Central American governments, has announced the appointment of Saundra Bailey as Chair of its Board of Directors, effective 1st June 2026.
Bailey succeeds Timothy N. J. Antoine after nearly eight years as Chair, during which he oversaw a period of significant growth, innovation and institutional strengthening.
Under Antoine’s leadership, CCRIF expanded its coverage, strengthened its financial resilience, broadened its membership and reinforced its position as a recognised innovator in climate and disaster risk financing.
Antoine commented, “It has been a privilege to serve CCRIF and its members during a period of extraordinary growth and innovation. I commend the dedicated CCRIF team, led by CEO Isaac Anthony and supported by a committed and highly effective Board of Directors. Throughout this journey, CCRIF has remained steadfast in delivering on its mission of providing rapid liquidity following natural disasters, helping members respond quickly and recover more effectively. I am delighted that Saundra Bailey will succeed me. Her deep knowledge of CCRIF, extensive governance experience and unwavering commitment to regional resilience make her exceptionally well qualified to lead the Board into the future.”
As Chair, Bailey will lead the Board in providing strategic oversight and governance as management implements CCRIF’s Strategic Plan 2025–2030.
She will focus on expanding parametric insurance solutions for new hazards and sectors, increasing protection for vulnerable households and communities, leveraging data and emerging technologies to strengthen resilience and developing innovative financing solutions and partnerships to help close the region’s protection gap.
Bailey brings more than 30 years of leadership experience in insurance, captive management, risk management and corporate governance.
She has served on the CCRIF Board since July 2018 and became Deputy Chair in January 2024. She currently chairs CCRIF’s Central American Management Committee and serves on several public and private sector boards across the Caribbean.
Bailey has played a key role in the pioneering work that informed the development of parametric insurance in the Caribbean and ultimately led to the establishment of CCRIF.
Her association with CCRIF dates back more than two decades. Following Hurricane Ivan in 2004, Caribbean governments worked with the World Bank and other partners to identify innovative solutions for rapid post-disaster financing. At the time, Bailey served as Chief Operating Officer of CGM Gallagher Group and was part of the team that helped develop the concepts of parametric insurance and the captive insurance structure that ultimately became CCRIF. She also had joint oversight of CaribRM, CCRIF’s first Facility Supervisor and a former subsidiary of the CGM Gallagher Group.
Bailey stated, “I am honoured to serve as Chair of CCRIF at this pivotal moment in its development. Over the next five years, we have an opportunity to expand our impact, strengthen partnerships and ensure that innovative risk financing solutions continue to protect lives, livelihoods and advance development prospects across the Caribbean and Central America. I look forward to building on the strong foundation established by Chairman Antoine, working closely with our Board, management, staff, service providers, members and partners to advance resilience, equity and sustainable development throughout the region.”
Isaac Anthony, Chief Executive Officer of CCRIF, said, “Saundra Bailey brings a powerful combination of technical expertise, governance experience and deep commitment to regional development. Having contributed to CCRIF’s creation and served with distinction on its Board, she is uniquely positioned to guide the organisation through its next phase of growth and innovation.
“I also extend my profound gratitude to Timothy Antoine for his visionary leadership and dedicated service. Under his chairmanship, CCRIF expanded its reach and impact, strengthened its financial resilience, advanced innovation and reinforced its position as a global leader in climate and disaster risk financing. We look forward to building on that strong foundation as we continue to innovate, close the protection gap and support resilient, secure and sustainable futures for the people of the Caribbean and Central America.”
Her appointment comes at an important juncture as CCRIF advances the implementation of its Strategic Plan 2025–2030, which is designed to expand coverage, deepen impact and strengthen resilience across the region.
