The Insurance Company of the West Indies Limited (ICWI) officially celebrated the opening of its Dominica branch on Saturday, January 18, 2020.
ICWI began operations in Dominica in November 2019 with offices on the ground floor of the FDIC building on King George V Street in Roseau, and a branch office in Portsmouth.
Attending the company’s launch at the Old Mill Cultural Center were senior government officials, heads of various financial institutions, business sector representatives and ICWI agents and customers. Representatives from the Financial Services Unit (FSU) were also present.
Minister for the Blue & Green Economy, Agriculture and National Food Security, Fidel Grant, who represented the Prime Minister and Minister for Finance Roosevelt Skerrit, welcomed ICWI to Dominica and thanked the company for investing in the island post Hurricane Maria.
“I want to applaud the ICWI for its decision to establish itself in Dominica. It is no secret that insurance companies in the Caribbean region have been dealt a severe blow in recent years with the passage of several tropical cyclones,” he said, adding that the Dominica Government was now looking more closely at the regulation of the sector.
“Our aim is that in a well-regulated sector policyholders will not be out of pocket if a disaster strikes and insurance companies will be in a position to make all payments without going out of business,” stated Grant.
President of ICWI, Paul Lalor said the company intends to expand its investments in Dominica.
“That means not only by growing our business and employing more people, but we want to invest, we want to be part of the fabric of Dominica.”
“The island is poised for great things. It is already happening and we want to be an integral part of that,” Lalor said.
He said ICWI would also take up its social responsibility with a focus on cancer awareness and early childhood education.
“We want to focus on bringing awareness to early detection and bringing awareness to those people who cannot afford breast cancer treatment. We need to put a movement in place to raise funds and to raise awareness to ensure that breast cancer is soon a thing of the past,” he stated.
Lalor pledged that ICWI would continue its commitment to Junior Achievement, an internationally recognized youth entrepreneurship program, among other education initiatives.
ICWI, recognized as one of the leading general insurance providers in the region, began operations in Jamaica over fifty years ago, with a focus on bringing exceptional service and security to policy holders throughout the region.
Conceived in the wave of entrepreneurial spirit that rolled over post-independent Jamaica, The Insurance Company of the West Indies has, from the outset, been focused on bringing exceptional service and security to the Caribbean. Growth through strategic acquisitions and partnerships has put us well on the way to achieving our goal, and we are confident that the time spent developing the highest levels of expertise in the organization will propel us to be a market leader in every territory in which we operate.
ICWI serves clients in the Bahamas, the British Virgin Islands, the Cayman Islands, Jamaica, St. Maarten, St. Kitts & Nevis, Turks & Caicos and Trinidad & Tobago. Bolstered by over 45 years of experience, we intend to continue our expansion throughout the region, leveraging the risk diversification and operational efficiencies provided by scale.
To be a leading Caribbean general insurer which delivers the highest levels of service to our clients, provides excellent employment opportunities and ensures that it operates in a sustainable, profitable and well capitalized manner.