Sagicor General launched

In addition to its current life insurance, Sagicor will offer general insurance coverage for real estate (private and commercial), motor and marine. Sagicor General, a new division of the Sagicor Group, was launched locally last Tuesday evening at a function for insurance brokers at Sagicor Penthouse, Queen’s Park West. Master of ceremonies, Robert Trestrail, noted that Sagicor General had grown out of a Barbadian company founded 120 years ago. Newly-appointed local general-manager of Sagicor Life Inc, Ken Marshall, said it had been a very eventful past two years in preparing to launch Sagicor General in Trinidad and Tobago.

The general insurance industry in the Caribbean would soon see more consolidation, for which Sagicor General was well poised to cope. He boasted Sagicor had $17 billion in assets, $3.6 billion in capital, and a recent annual profit of $358 million. Marshall said Sagicor was a company which was “timeless, colourless and borderless.” It would be judged, he said, solely on its delivery. Sagicor General’s general manager for Trinidad, Alan Cabral, reiterated the point that the local general insurance industry would see consolidation of companies. “This is not going in be a walk in the park,” he said, but added, “Sagicor General can achieve market leadership.” Cabral said clients now expected higher service and competitive prices.

He predicted Sagicor’s service would get even better, while noting the company was already an “A-excellent” by AM Best. Saying he had begun his career in the area of claims, Cabral declared that prompt settlement would be the strength of Sagicor. Barbados’ Sagicor General managing director, David Deane, said Sagicor had a bright future, with years of opportunity ahead. “We are confident Sagicor General will be the property and casualty company of choice of most Caribbean people.” The company, he hoped, would also go international. Deane stated aloud the Bajan company’s motto: “Be firm and be fair.” Gregory Whiby gave the vote of thanks.