Insurance
Insurance
F
ounded in 1982, The
NAGICO
Group
has
grown strategically and
organically throughout the
Caribbean where it now
operates within 21
territories. NAGICO
Grenada,
having
launched 6 years
ago is led by
Operations Manager
Chantelle Bristol
and
Principal
Representative &
Accountant Theresa
Noel who are both
well qualified and
experienced in their
respective fields. The
company offers a family
of property and casualty
insurance Property, Motor,
Marine, Liability as well as
health products and risk solutions.
NAGICO’s promise and commitment
from day one has been to deliver fast and
fair service to its customers and to always
be there for them; a promise it continues to
keep daily. This is the NAGICO way.
Trust is important in life and business.
NAGICO protects the trusted relationships
with its customers and partners which
have fostered its success and created the
foundation of the company for the past
36 years. NAGICO’s core values integrity,
leadership, empowerment, diversity, and
kindness to people, guide its day to day
operations.
With a keen understanding of the dynamics
and differences around the Caribbean, an
exceptional management team and trained
staff with a deep understanding of the
insurance industry and critical business
issues, combined with the strong professional
intermediary network it has developed with
brokers, agents, and reinsurance partners,
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www.businessgrenada.com
Excellent rated entity by AM Best and
maintaining more than $900M in equity,
became a shareholder in 2016.
The company has taken a very stringent
due diligence approach to ensure an optimal
reinsurance program is in place, with the
right partners and coverage selected in order
to protect its portfolio of customer policies.
NAGICO’s reinsurance program incorporates
NAGICO FINANCIAL HIGHLIGHTS INCLUDE
• Nearly USD $100 million in Equity
• USD $300 million in Assets
• USD $165 million Gross Written
Premiums per annum
• Supervised by 17 regulatory
authorities across the region
• Solvent in all 21 Territories within
which they operate
• Maintains an exceptional level of risk
adjusted capitalization for its
business profile as measured by AM
Best’s Capital Adequacy Ratio.
• Member of the Fosun Group which
has in excess of USD $15 billion in
Equity
NAGICO offers a distinct advantage to its
customers. This is evidenced by NAGICO
establishing itself as a preferred provider in
the Caribbean region and its #1 insurance
brand ranking across many of the islands.
NAGICO’s workforce is comprised of
qualified and experienced professionals
within the underwriting, claims, finance,
risk management, governance, compliance,
technology and business development areas.
NAGICO DISTRIBUTION
Over the years NAGICO has built a powerful
intermediary network throughout the
Caribbean comprised of a diverse group of
brokers, agents and managing general agents
of varying sizes. This professional network is
a crucial part of NAGICO’s strategy to grow
and succeed together through sharing core
values and honouring promises. The NAGICO
network also ensures that an office is nearby to
where its customers live and work thus making
it easy and convenient for quality advice to be
obtained. Each NAGICO representative brings
strong technical competence and excellent
community knowledge and relations to the
fore which helps to actively attract and retain
“
ONE CARIBBEAN, ONE PEOPLE, ONE NAGICO
Much of NAGICO’s success can be attributed
to the company’s core value of ‘integrity’ –
one that is upheld by each of its employees.
With this value comes the fundamental
principle of giving back in order to improve
NAGICO’s workforce is comprised of qualified
and experienced professionals within the
underwriting, claims, finance, risk management,
governance, compliance, technology and
business development areas
only the top financial and reputable partners.
These partners, Swiss Re, Hanover Re, Partner
RE, Lloyd’s Syndicates, and Peak Re together
bring in excess of USD $150 Billion in equity
to support the group in its risk management.
quality business. In addition, this network of
professionals has more experience, training,
and industry certifications than the industry
average in the region, and it has access to the
latest technology to streamline and enhance
service delivery, thereby allowing them to
conduct business faster and easier with its
valued customers.
The protection of policyholder interest is of
paramount importance to NAGICO.
In fact, AM Best reported that “NAGICO’s
balance sheet strength is underpinned by its
risk-adjusted capitalization assessed at the
strongest level, as measured by Best’s Capital
Adequacy Ratio (BCAR) model and a sound
reinsurance program to protect capital.”
“
ONE CARIBBEAN
ONE PEOPLE
ONE NAGICO
the way of life and enrich the various
communities in which the company operates.
NAGICO aims to empower the communities
through both corporate sponsorships and
employee volunteer programs, specifically in
the areas of sport, culture and education. BG
NAGICO Insurance Branch Office
GCNA Complex, Kirani James Boulevard,
St. George’s, Grenada
T: (473) 438-5000
E: [email protected]
W: www.nagico.com
FINANCIALLY STRONG AND RESILIENT
Despite the recent devastation caused by two
category five hurricanes, the company has paid
98% of all customer claims from those storms
and is working hard to resolve all remaining
claims. To date, nearly ¾ billion U.S. Dollars
has been paid across the Caribbean by
NAGICO to support the restoration process.
NAGICO is prudent in managing catastrophe
risk exposure with less than 5% of its capital
and surplus being exposed to a single event,
and has remained financially strong and
stable following this trying period due to this
judicious risk management approach, which is
always at the core of its decision making.
The NAGICO Group grew even stronger when
Peak Reinsurance Company Limited, an A-
NAGICO is the proud sponsor of 2018 Intercol Champions Grenada Boys Secondary School.
www.businessgrenada.com
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