At the recent RIMS (Risk & Insurance Management Society) conference in Hawaii Ian Kilpatrick, Chairman of The Crusader Group of Companies announced a $100,000 donation to the Insurance Managers Association of Cayman (IMAC) Educational Scholarship Fund in honour of Mary Lou Gallegos, Head of Insurance Supervision, Insurance Department, and Cayman Islands Monetary Authority • who announced her retirement, effective 1 January 2007.

This is the second donation from Mr Kilpatrick and the Crusader group. In 2001 his companies advanced $75,000 to fund a scholarship that was used to fund Laveda Burton who is currently finishing a degree in Finance at Richmond College in London.

“Mr. Kilpatrick and the Crusader Group of Companies have been longstanding supporters of the Educational Scholarship Fund and this latest donation would allow a full scholarship to be awarded by the Association for a fourth straight year,” said John Pitcairn, IMAC Educational Scholarship Fund, Director, who accepted the cheque.

Ms Gallegos who knows Mr Kilpatrick well was moved by his gesture of generosity.

“I am very humbled by Ian’s generous contribution to the Education fund in my honour,” she said.

“A mutual respect has developed between Ian and myself over the past 12 years. As one of the first insurance managers that I became acquainted with when I moved into insurance, I have always found that Ian possesses a wealth of information that he willingly shares and he has greatly assisted my achievements.

“I have really enjoyed working with the insurance managers association and the captive insurance industry and nothing could please me more than to know that some young person will be able to pursue higher education because of this.”

Patrick Bodden, the Acting Managing Director of the Cayman Islands Monetary Authority, expressed his sincere appreciation at the generosity displayed in honour of Ms. Gallegos.

“Ms. Gallegos has contributed immensely to the Authority and to the regulation and development of the insurance industry in Cayman.  It is gratifying to see the industry reinvesting in the community’s educational development in her honour. I commend Mr. Kilpatrick on his gracious contribution to the industry’s future,” he added. 

Seamus Tivnan, Chairman of IMAC, said that the whole industry was saddened to hear that Mary Lou would be retiring.

“The captive industry had benefited immensely from her insight and direction. She was, without doubt, a remarkable person who had guided Cayman’s Insurance Industry to being seen as a world leader in the captive insurance market,” he said.

“She will be missed by all and this overwhelming gesture from Mr. Kilpatrick is very fitting and appropriate.”

Ian Kilpatrick has over 30 years of experience in the international insurance and finance business. Since 1993, Mr. Kilpatrick has been the owner and President of the Crusader International Group of Companies.

Mr. Kilpatrick remains very active in the promotion of the Crusader Group of Companies along with the other companies he is affiliated with and spends a lot of his time traveling around the world marketing and promoting the group’s products and services.

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