Trinidad and Tobago-based company New India Assurance Company Limited has reopened the doors of its Guyana branch.
Speaking at the launching on Thursday at the Marriott Hotel, Company Managing Director Jyoti Kumar Garg acknowledged the significant developments that have taken place over the years. “We must admit that significant economic developments have taken place over the years, and we are happy to become part of that growth trajectory in the years ahead,” he was reported as saying by the Government Information Agency (GINA).
In lauding the progress of the country, Garg reiterated that, “business growth appears to have been stimulated as we witness what appears to be an increased number of vehicles, both new and foreign used, entering the market. We are also seeing quite a number of new buildings and housing communities in urban districts and along the city boundaries of Georgetown.”
Turning his attention to the company’s office which will be located at 58 B Brickdam, Georgetown, GINA said the director pointed out that since the company believes in providing “world-class general insurance services,” it is working on the implementation of new information technology software that will provide real time benefits to the clients.
Meanwhile, GINA said Minister of Finance Dr. Ashni Singh, in brief remarks, welcomed the company back to Guyana. He added that if the growth that the country has seen over the past decade continues the same way, then it is only natural that the company will see its decision to re-enter the economy as a most appropriate and worthwhile one.
GINA said the company is hoping to have its first set of clients before the end of the month.
New India Assurance, which is a subsidiary of the New India Assurance Company Limited, in Mumbai India, a multi-national state owned non-life insurer founded in 1919, came into the Caribbean more than 60 years ago, beginning with its agency model, and in 1966, was incorporated and began operations as a branch office in T&T.
It is one of the largest insurance companies in the Afro-Asian region. It had a global premium of US$2.3 billion, net assets of US$7.7 billion and net worth of US$1.4 billion at the end of 2013.
