ICBL a success story

The Insurance Corporation of Barbados Limited (ICCL) is a great success story for Barbados.
Chairman John Wight sees the company that way, saying this was highlighted by the $14.7 million profit the company earned last year.
Last year’s performance marked another consecutive year of profit for the general and life insurance company which was formerly owned by the Government of Barbados.
Wight is president and chief executive officer of Bermuda Fire and Marine Limited that acquired majority ownership of ICBL after paying Government more than $51 million for 51 per cent of ICBL shares in 2006.
He thanked customers for their support during an informal cocktail reception at Port St Charles last week, following a meeting of the board of directors last Wednesday.
Speaking to BARBADOS BUSINESS AUTHORITY afterwards, he said the initial investment in marketing and the focus on customer service had paid off, helping the company to expand its base and was largely responsible for the outstanding  performance.
“I think under the new leadership of the company we have endeavoured to improve our customer service  and we have spent a lot of money in technology to improve service delivery to our customers,” Wight said, a move that he noted had seen a lot of customers make the switch from competitors.
“We have been more aggressive in the marketplace; we have designed products and services to meet the needs of those customers,” Wight added. (GC)