CEO of NAGICO Group Imran McSood Amjad. Photo: Reuben Stoby/VINO

Some of the persons in attendance at the cocktail last evening. Photo: VINO

Speaking to Virgin Islands News Online at a cocktail at the Moorings last evening March 16, 2012 in recognition of NAGICO’s 30th anniversary, CEO of NAGICO Group Imran McSood Amjad said one of the plans for the NAGICo Group in the not so distant future is to enter its business in Jamaica, Guyana and Barbados.

“Those are the three countries that we have not entered into yet. We do some business in Guyana with other insurance companies.” Mr. Amjad said.

He also noted NAGICO just received its license for the French Antilles and will seek to expand the business there as well as in Grenada and Bahamas.

Speaking on the challenges that NAGICO face, Mr. Amjad said hurricanes have been on the top of the list but are also a blessing in disguise. “We have faced about 30 hurricanes and also the volcano in Monserrat...There were a lot of catastrophic events that we would have had to cover and insure and these events turn out to be absolute blessings in a way because by paying the claims and dealing with all the people who would have had problems with their houses or their cars especially in those catastrophic times they get more confidence when they know we are there for them when they need us and as a result of that they would tell their neighbours and friends and we grow as a result of that.”

One of the keys to being successful, Mr. Amjad said, is NAGICO’s claim settling ability. “We settle claims very fair, very fast and we have excellent re-insurance support from some of the biggest re-insurance companies in the world...We are also a very customer friendly company and try to treat our staff well.

Meanwhile, Managing Director of NAGICO BVI, Shan Mohammed, said the company has been serving the Virgin Islands for the past 20 years. “As I look back, we have indeed come a long way from a virtually unknown insurance company in 1992 to one of the significant players in the insurance market.”

He said from the very inception NAGICO had a mandate to become the largest provider of general insurance to customers in the Territory. "Today, through your continued support, the strength of our insurance products, and our quality customer service, we have become the largest provider of general insurance in the Virgin Islands. Mohammed also said NAGICO is the fastest growing medical insurance provider in the Territory and its NAGICARE is recognized by doctors, pharmacies and hospitals for offering some of the best plans known in medical insurance industry."

He added that one of NAGICO’s mandates is to also be a good corporate citizen which it has been fulfilling remarkably. “In the BVI, our contribution and sponsorship initiatives support programmes that fall within various outreach areas. These include, but are in no way limited to education, health, sports and community projects. One such contribution is the adoption of the Isabella Morris Primary School. Only recently we visited that school and handed over some needed equipment and supplies.”

Only yesterday March 16, 2012, NAGICO BVI presented a second vehicle to the Adina Donovan Home to follow up on a similar presentation eight years ago.

Among the Government officials at the cocktail to celebrate NAGICO’s milestone were Minister for Health and Social Development Hon. Ronnie Skelton, Minister for Education and Culture Hon. Myron Walwyn, 5th District Representative Hon. Delores Christopher, 6th District Representative Hon. Alvera Maduro-Caines, 8th District Representative Hon. Marlon Penn and At Large Representative Hon. Archibald Christian.