The National Insurance Board met on Thursday, November 27, 2025, using Microsoft Teams. At this meeting, the Board Members:
1. Accepted the following reports:
- CEO’s Report November 2025
- NIB 24/2025 Audit Representation Letter
- NIB 2024/25 Audit Opinion
- NIB 2024/25 Audited Financial Statement
- NIB 2024/25 Audit Findings Report
2. Approved the following:
Board Papers:
- Medical Board Appointments 2025: The Board approved the appointees to the Medical Board.
Domestic Investment – Amethyst Property Development: The Board approved a construction loan for $4.59M under its domestic investment policy asset allocation.
- Board Meeting Summary: The Board approved the Board Meeting Summary for October 23, 2025, for circulation to staff and publication on the NIB website.
3. Received the following Matters Arising Updates:
- Audit Update: The Audit Committee met to conduct the exit meeting with the Auditors and reviewed the Audit Representation Letter, Audit Opinion, Audited Financial Statement, and Audit Findings Report.
- 11th Actuarial Review: There will be a PR campaign to educate and sensitize the public to the outcomes of the 11th Actuarial Review. The campaign will commence in January 2026.
- NIB Cybersecurity: The NIST assessment was conducted using the 5 factors. The NIB will work to improve its maturity grade in the future.
- Blue Hills: NIB is currently exploring the possibility of developing a Government Office Complex in Providenciales.
4. Received the following Matters for Consideration:
Mrs. Shernelle Capron and Mr. Sherlin Forbes were reappointed to the National Insurance Budget Committee.
5. Received the following Matters for Noting:
- Staff Christmas Loans: Applications were received and reviewed for staff Christmas loans.
- Staff Updates: A comprehensive view of recent staff moves was received and approved by the Board.
- 33rd CARICOM Heads Meeting: Directors were reminded to attend the upcoming meetings.
