Last update: 16-Apr-2014 2:09 pm
Wednesday, April 16, 2014
Trinidad & Tobago Guardian Online
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Neal and Massy is back in the insurance business
Gervase Warner, president and chief executive officer of the Neal and Massy Group, has announced a strategy to make United Insurance this country’s second largest insurance company in the next two years. Neal and Massy took over United Insurance when it acquired Barbados Shipping and Trading (BS&T).
Speaking in his capacity as chairman of the subsidiary at the company’s dinner and appreciation ceremony at the Casablanca Banquet Hall, Fiesta Plaza, Movietowne, Warner said: “A couple years ago, we did some work on strategies in a couple companies in Neal and Massy. Our strategies call for the Neal and Massy Group of companies to start to work more closely together. “So when you have that, you can find a United (Insurance) kiosk today in Super Centres in Barbados or in Hi- Lo in Trinidad.
When we start to work more closely together, the place that sells the most new vehicles in T&T can now offer customers the financing of the vehicles and the insurance of the vehicles in the nicest place to buy vehicles. When you do that, you are going to participate in a programme that we going to launch around loyalty.” Warner’s announcement puts to rest speculation that the subsidiary would be put up for sale.
Neal and Massy exited the insurance business years ago when it disposed of the assets of Caribbean Home Insurance Company (CHIC). Warner said when United Insurance became part of Neal and Massy the suitors were many as they were convinced that the insurance company would not be part of the family for long. “So there was some uncertainty around the market place.
People kept calling us asking, You ready to sell United? We did some soul searching and asked ourselves the question, do we as a company want to be in the insurance business? The answer was a resounding yes. Insurance fits!” he said. “Insurance is an important part of the Neal and Massy Group.
Now, insurance is absolutely an essential part of business inside out group. United Insurance is a beautiful company and is a testimony to the men and women who work there, their values, their commitment to customers their commitment to their agents and the brokers that they work with throughout the territories.” He described the company as honest and conservative and customer centric, with integrity and tremendous team spirit, but said it was just too tame.
Under new management, said Warner, exciting times are ahead as the company will be seeking to grow its business. “We want to grow together. We want to build our business with your business. Let’s blow the doors off the insurance industry in T&T. Let’s have them just not able to comprehend what happened. “In T&T, United Insurance has grown tremendously. It is the fastest growing operation we have in all of our company. But I am here to tell you, it’s not enough.
There is an exciting opportunity ahead of all of us, because although we are the fastest growing territory in all of United, we still small, relatively speaking,” he said. Warner added: “You’ll know the Neal and massy Group of Companies. We (are) not accustomed not being first in that picture. That’s not the place that we come from. Now, we are focused on growth and what that means for all of us in this room is opportunity knocking.
“We don’t want to just make a whole lot of money which is not a bad thing, but we want to grow who we are. We want to grow our foot print. We want to deepen and strengthen the partnerships that we have developed over the years. We want to become more meaningful, we want to hear from you, we want you to push us some more. While T&T is a star in the United line-up, is not enough for me and I personally have challenged this organisation to out strip its growth.”
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