Ninety per cent of the flood damage that devastated St Helena Village in the aftermath of Tropical Storm Bret on Monday could have been prevented if two dilapidated flood gates in the area were...
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Sagicor T&T strong
Despite the Clico debacle and the slow growth of T&T’s economy after the global financial crisis, Sagicor General Insurance Inc (SGI) has positioned itself in the T&T insurance market, by achieving $230 million in gross premium income in its T&T branch, for the 12 months ending December 31, 2013. The company employs 85 permanent employees in its T&T operations.
Though fourth place as at December 2012 when it comes to gross premium income, SGI has maintained an AM Best Rating of A excellent since June 2002. The asset base of the entire company is $681 million and the company’s T&T operations accounts for about 50 per cent of that amount.
Dyan Loutan-Ali, vice-president, T&T operations, said compared to other companies in T&T’s insurance market, SGI has done very well, since it began operating here 10 years ago. She added that having a strong brand has contributed to the company’s high achievement.
“The T&T (insurance) industry is like a billion-dollar industry. In terms of Sagicor General out of Barbados, T&T was the appropriate place to launch because of the potential growth, the economy was doing well, construction was up and coming, and it was just the correct timing.”