The Vanuatu Financial Services Commission (VFSC) is pleased to announce the appointment of Mr. William McCullough as the Commission’s new Advisor on Insurance matters effective 15 July 2008 for a period of 2 years. Mr. McCullough brings to the VFSC over 30 years international experience in the insurance industry, regulation and supervision.

George Andrews, Commissioner of the VFSC commented: “We are delighted to welcome Mr. McCullough to the Commission and we look forward to the VFSC reaping the benefits of his wide ranging experience, skills and energy as we together work to ensure that the VFSC fulfills its statutory obligations and meets the challenges that lie ahead.”

Future of the Vanuatu Offshore Centre

The Vanuatu Financial Services Commission (VFSC) is pleased to announce the appointment of Mr. William McCullough as the Commission’s new Advisor on Insurance matters effective 15 July 2008 for a period of 2 years. Mr. McCullough brings to the VFSC over 30 years international experience in the insurance industry, regulation and supervision.

Mr. McCullough will provide assistance with supervision and facilitate the development of the Vanuatu domestic and captive insurance sectors. Specifically, his duties include the provision of advice, institutional and capacity building, promotion and marketing of Vanuatu insurance products.

He will also be providing assistance to strengthen regional and international relations with other regulatory authorities and law enforcement agencies and developing effective gateways for cross-border regulatory co-operation.

Mr. McCullough is an Associate of the Chartered Insurance Institute (ACII) and a Fellow of the Corporation of Insurance Brokers (FCII) His previous experiences includes service as Director of Insurance with the British Virgin Islands Financial Services Commission and Head of Insurance Supervision with the Cayman Islands Monetary Authority. He has also served as the Chairman of the Offshore Group of Insurance Supervisors.

More recently Mr. McCullough has provided technical assistance on insurance legislation, regulation and supervision to several offshore jurisdictions under the auspices of the International Monetary Fund. He has also participated in the IMF financial sector assessment programs. Speaking of his appointment Mr. McCullough commented: “I am pleased to join the VFSC at this important time in its development. Although embryonic in its current form, the Commission is already establishing a strong reputation as an effective financial services regulatory authority. All indications point to a continued growth in the Vanuatu insurance market. I look forward to using my insurance industry and regulatory experience to support that growth and to assist in the continuing development of Vanuatu’s regulatory regime.

For most business ventures success is only achieved through strong partnerships and I see nothing different in relation to my new role. My goal will be to use my experience to ensure that the regulator, regulated companies and professional service providers work together to develop an industry and a regulatory regime of which we can be proud and that brings value to the Vanuatu.”

2008 : July

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Last Updated on Thursday, 04 August 2011 14:53