Thursday, April 18, 2024

United after bigger slice of T&T market


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PORT OF SPAIN – United Insurance, a pan-Caribbean general insurance company, is celebrating ten years of the establishment of branch operations in Trinidad and Tobago and is seeking to carve out a bigger slice of the market in the twin-island republic.
During an anniversary ceremony in Port of Spain last week, chief operating officer of the Barbados-headquartered United Insurance Company Ltd, David Alleyne, praised the management and staff of the Trinidad branch for their discipline and dedication over the years and described the growth of the operation as impressive.
 “You have done a really good job of growing the brand and the business in Trinidad and Tobago. I wish to salute management and staff for being able to achieve significant growth, particularly through the delivery of excellent customer service and general recognition of United’s strength as a rated insurance carrier,” said Alleyne.
Prior to the setting up of a full branch operation, United Insurance previously operated as an agency in Port of Spain and has been in the Trinidad market for 20 years. That agency that represented the company was purchased in 2000 and integrated into the current branch business.
As part of tenth anniversary celebrations, several employees of the Trinidad operation were recognized for their contribution to the business and general manager of the Trinidad and Tobago operations, Dennis Benisar, reported that gross written premiums had moved from TT$13 million (BDS$4.04 million) some years ago to TT$110 million (BDS$34.2 million) in 2012.
He also reported that the staff complement had grown from seven to 30, in line with the growth of the business, and there was a second office in San Fernando in south Trinidad.
With a new strategic plan, which includes the intention to offer motor insurance in that market, Benisar said he expected further growth for United Insurance’s Trinidad operation in coming years and to become one of the top three insurers in Port of Spain over the next five years.
Chief operating officer Alleyne emphasized that the strategic plan of the Trinidad operation mirrored the overall strategic imperatives of United Insurance in providing for its clients the highest level of underwriting and claims service in the Caribbean.
He further said that the strength of Neal & Massy Holdings, as United’s ultimate parent, as well as United’s management experience, were two pillars on which clients across the Caribbean could continue to depend.


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