Investors Trust Assurance (ITA) has appointed Allison Clark as the new vice president of Cayman Islands insurance operations.

In her new position, Ms Clark will be responsible for overall management of administrative, logistics and human resources support functions for the insurance operations for the company in Cayman Islands. She will also liaise with Cayman Islands Monetary Authority, the company’s local legal counsel and audit/accounting firm, as its local insurance executive.

Prior to ITA, Ms Clark served as assistant vice president at Marsh Management Services Cayman. She also served as vice president/managing director, from 2000 to 2006 at Mony Life Insurance Company of the Americas.

In conjunction, the Cayman Islands Monetary Authority has granted ITA a dispensation from requirement to engage a third party service provider to act as insurance manager on basis that ITA maintains a principal office and suitably qualified staff in Cayman Islands appropriate to conduct of its insurance operations.

William Zelaya, director of ITA, said: “We are proud to have Allison join our company bringing more than 17 years of financial experience to the table. Allison possesses the industry experience that will allow us to improve our offshore insurance operations to meet our client needs.

“Our expanded presence in Grand Cayman will further strengthen our collaboration and communications with the Cayman Islands Monetary Authority, helping us to continue to adapt to the ever-changing global market.”