You are here

Outgoing Group CEO Jeffrey Mack: I’m leaving GHL in a better position

Thursday, December 19, 2013
Outgoing GHL Group CEO Jeffrey Mack. PHOTO: SHIRLEY BAHADUR

There would be an increase in insurance companies folding when the Insurance Bill, 2013 comes into effectsays Jeffrey Mack, outgoing group chief executive officer of Guardian Holdings Ltd (GHL).


He said this means companies like GHL would be strategically positioned in the market to “take up the slack” by absorbing those companies’ clients.


“I think what this new insurance Act is going to do is lead to additional consolidation in this market place because companies are going to have to be better capitalised. They are going to have to spend more money on risk management, more money on compliance and things we already do already.


We think this will lead to consolidation and GHL is going to be well positioned to take advantage.


“I think (the Act) can be compared to any of the first world regulatory standards around. Obviously, some are still more robust. For the companies we have, I think it’s going to be a very good piece of legislation.”


Mackm who has 33 years’ experience in the industry, was speaking in an interview on Monday at GHL’s head office, Guardian Drive, Westmoorings.


Commenting further on the Bill, Mack supported the requirement in the Bill for insurance companies to have more capital in hand as this means the public would have more confidence in insurance companies.


User comments posted on this website are the sole views and opinions of the comment writer and are not representative of Guardian Media Limited or its staff. Guardian Media Limited accepts no liability and will not be held accountable for user comments.

Please help us keep out site clean from inappropriate comments by using the flag option.

Guardian Media Limited reserves the right to remove, to edit or to censor any comments. Any content which is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will be removed.

Before posting, please refer to the Community Standards, Terms and conditions and Privacy Policy