ICWI extends reach to Dominica

ICWI extends reach to Dominica

Friday, February 07, 2020

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The Insurance Company of the West Indies (ICWI), in continuing to strengthen its position as a true regional player, has recently opened its ninth operation in Dominica.

The entity, which was officially launched last month at The Old Mill Cultural Centre in the capital Roseau, will add to the productivity of Dominica's economy. and its population of 75,000 people.

ICWI President Paul Lalor, while speaking at the launch, said that he was optimistic about the venture.

“Despite the devastation caused by the passing of Hurricane Maria in 2017, the island is poised for growth and further development. ICWI is committed to being an integral part of that, not only growing our business and employing more people, but also to invest; we want to be a part of the fabric of Dominica,” he said.

With the apparent increase in the frequency of catastrophic weather events and earthquakes in the region, expansion may seem like an illogical choice, but according to Lalor, ICWI acknowledges that it's line of business is characterised by risk.

“Our mandate is to ensure that our clients are protected in the face of severe loss and disaster. As we expand, ICWI will continue to protect our clients and financial assets with one of the region's most prudent and robust reinsurance programmes. We will continue to expand our services throughout the region, confident that the security and protection we offer our clients is second to none,” he added.

As a new entrant to the market, ICWI will offer the people of Dominica another choice when it comes to insurance. “Insurance is serious business — buying it, and the responsibility an insurance company has in providing the protection, this is something that ICWI has always taken very seriously, and we look forward to offering a great alternative to the people of Dominica,” Lalor said.

Operating in multiple territories across the region, ICWI will widen its revenue base, diversify the risk it takes, and benefit from the economies of scale that size has to offer.

“ICWI Dominica will facilitate general insurance services through its Dominica branches located in Roseau, and Portsmouth, also through its WhatsApp platform which facilitates business from anywhere in the world,” a release said.

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