CCRIF SPC, a regional risk-sharing organization that provides parametric insurance to governments in the Caribbean and Central America, has announced the appointment of Saundra Bailey as Chairman of its Board of Directors, effective June 1, 2026.
Bailey succeeds Timothy NJ Antoine after nearly eight years as Chairman, during which time he oversaw a period of significant growth, innovation and institutional strengthening.
Under Antoine’s leadership, CCRIF has expanded its reach, strengthened its financial resilience, expanded its membership and solidified its position as a recognized innovator in climate and disaster risk finance.
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 effective Board of Directors. Throughout this process, CCRIF has remained steadfast in its mission to provide rapid liquidity after natural disasters, helping members respond quickly and recover more effectively. I am delighted to have Saundra Bailey “
As Chair, Bailey will lead the Board in providing strategic oversight and governance as management implements CCRIF’s 2025-2030 strategic plan.
She will focus on scaling parametric insurance solutions for new hazards and industries, strengthening protection for vulnerable households and communities, leveraging data and emerging technologies to build resilience, and developing innovative financing solutions and partnerships to help close protection gaps in the region.
Bailey has more than 30 years of leadership experience in insurance, captive management, risk management and corporate governance.
She has served on the CCRIF Board of Directors since July 2018 and became Vice Chairman in January 2024. She currently serves as Chair of CCRIF’s Central America Management Committee and serves on several public and private sector boards in the Caribbean.
Bailey played a key role in pioneering work that promoted the development of parametric insurance in the Caribbean and ultimately led to the establishment of CCRIF.
Her work with CCRIF goes back more than two decades. After Hurricane Ivan in 2004, Caribbean governments worked with the World Bank and other partners to find innovative solutions for rapid post-disaster financing. At the time, Bailey was chief operating officer of CGM Gallagher Group and was part of the team that helped develop the parametric insurance concept and captive insurance structure that eventually became CCRIF. She also co-supervised CaribRM, CCRIF’s first facilities director and a former subsidiary of CGM Gallagher Group.
Bailey said: “I am honored to serve as Chair of CCRIF at a critical time in its development. Over the next five years, we have the opportunity to expand our impact, strengthen partnerships and ensure that innovative risk financing solutions continue to protect lives, livelihoods and promote development prospects in the Caribbean and Central America region. I look forward to building on the strong foundation established by Chair Antoine and working closely with our Board, management, staff, service providers, members and partners to promote resilience, equity and sustainable development across the region.”
Isaac Anthony, CEO of CCRIF, said: “Saundra Bailey brings a combination of technical expertise, governance experience and a strong commitment to regional development. Having contributed to the creation of CCRIF and serving on the Board of Directors, she is uniquely positioned to guide the organization’s next phase of growth and innovation.”
“I would also like to express my deep gratitude to Timothy Antoine for his visionary leadership and dedicated service. Under his leadership, CCRIF has expanded its impact, strengthened its financial resilience, advanced innovation, and solidified its position as a global leader in climate and disaster risk financing. We look forward to building on this strong foundation to continue to innovate, close the protection gap, and provide a resilient, secure, and sustainable future for the people of the Caribbean and Central America.”
Her appointment comes at an important time as CCRIF advances the implementation of its 2025-2030 strategic plan, which aims to expand coverage, deepen impact and build resilience across the region.
