We re­fer to the ar­ti­cle pub­lished in the Sun­day Guardian of May 15, ti­tled "High-hand­ed Nicholas," and would like to point out a num­ber of ma­te­r­i­al in­ac­cu­ra­cies in the re­port:

• Risk Man­age­ment Ser­vices Ltd (RMS) was not the in­cum­bent bro­ker to Caribbean Air­lines Ltd (CAL) at the time of the ten­der for in­sur­ance broking ser­vices.

• RMS was not se­lect­ed as the in­sur­ance bro­ker to CAL in 2007.

• RMS was a mem­ber of the Guardian Group of Com­pa­nies from 2002 to March 2006.

• The man­agers of RMS did not buy the com­pa­ny two years ago from Guardian Hold­ings Ltd as stat­ed.

• RMS is not as­so­ci­at­ed fi­nan­cial­ly or oth­er­wise with Guardian Hold­ings or with any mem­ber of the Guardian Group of Com­pa­nies.

We wish to fur­ther ex­pand and pro­vide the fol­low­ing:

• RMS has nev­er act­ed in the ca­pac­i­ty as in­sur­ance bro­ker to CAL or its pre­de­ces­sor com­pa­ny, British West In­di­an Air­ways.

• The Re­quest For Pro­pos­al for the ten­der stat­ed a two-year con­tract but the ar­ti­cle stat­ed that the ten­der was award­ed to CIC for a three-year con­tract pe­ri­od.

• In 2006 Guardian Hold­ings sold its 100 per cent share­hold­ing to the ex­ec­u­tive man­age­ment of RMS.

Guardian Hold­ings no longer has any share­hold­ing in­ter­est or fi­nan­cial or com­mer­cial re­la­tion­ship with RMS. The de­ci­sion to dis­pose of the share­hold­ing was made in De­cem­ber 2005 and this was done in or-der to re­move any per­cep­tion of con­flict aris­ing from Guardian Hold­ings own­er­ship of both a broking com­pa­ny and an un­der­writ­ing com­pa­ny.

We would al­so like to clar­i­fy that our cur­rent chair­man, Pe­ter Gan­teaume, first held this po­si­tion when RMS was ac­quired by Guar-di­an Hold­ings Ltd from Neal & Massy Hold­ings Ltd in 2002. He was the then chief ex­ec­u­tive of­fi­cer of the Guardian Hold­ings Group. In March 2006, when Guardian Hold­ings com­plet­ed the di­vest­ment, dis­posed of their 100 per cent share­hold­ing in RMS, Gan­teaume of­fered his res­ig­na­tion as chair­man. The new share­hold­ers, be­ing aware that Gan­teaume was short­ly due for re­tire­ment from Guardian Hold­ings, asked that he con­sid­er the po­si­tion of chair­man un­der the new own­er­ship, which he ac­cept­ed and still holds to­day. We trust this clar­i­fies our po­si­tion.

Chris­t­ian Low

Man­ag­ing di­rec­tor, RMS