Sagi­cor Cel­e­brates Mile­stone

The Star (St. Lucia) - - LOCAL - By

Toni Ni­cholas

Sagi­cor cel­e­brated its 175th an­niver­sary of op­er­a­tions with a gala event at Sandals Hal­cyon on Fri­day 22nd Jan­uary, 2016. Sagi­cor is a fi­nan­cial ser­vice com­pany of­fer­ing in­sur­ance, fi­nan­cial in­vest­ments and mu­tual funds among other ser­vices.

Present at the cel­e­bra­tion were cus­tomers, staff, spe­cial guests and govern­ment of­fi­cials. Among the spe­cially in­vited were Pres­i­dent of the Se­nate and Pres­i­dent of the Saint Lu­cia In­sur­ance Coun­cil, Claudius Fran­cis; Sen­a­tor James Fletcher; out­go­ing Di­rec­tor of Pub­lic Pros­e­cu­tion, Vic­to­ria Charles-Clarke, and leader of the United Work­ers Party, Allen Chas­tanet.

Chair­man of the Sagi­cor board, Stephen McNa­mara, started speak­ing by chron­i­cling the com­pany’s jour­ney which, he ex­plained, started as the Bar­ba­dos Mu­tual Life As­sur­ance So­ci­ety. “Af­ter rapidly ex­pand­ing through­out the East­ern Caribbean, the com­pany opened its East­ern Caribbean of­fice here in Saint Lu­cia - the ic­ing on the cake as it were,” McNa­mara said. “To­day, Sagi­cor has grown to be the lead­ing in­dige­nous fi­nan­cial ser­vices com­pany through­out the Caribbean re­gion,” he added.

Ac­cord­ing to the Chair­man, Sagi­cor is com­mit­ted to the re­gion and its peo­ple, and he pointed to a num­ber of ini­tia­tives: “Some of th­ese in­clude the Healthy Caribbean Coali­tion, sport ini­tia­tives such as the Sigma Run in Ja­maica, and spon­sor­ship of the OECS Swim­ming Cham­pi­onship, the Sagi­cor Vi­sion­ar­ies Chal­lenge and spon­sor­ship of a grand pi­ano for the Saint Lu­cia School of Mu­sic.”

CEO of Sagi­cor Life/East­ern Caribbean Don­ald Austin, who also spoke on the night, pointed out: “Reach­ing 175 years is in­deed a re­mark­able achieve­ment as a busi­ness and we must thank many of you here, our cus­tomers from across the re­gion, for your sup­port over the years.”

Ac­cord­ing to Austin, Sagi­cor had ad­vanced in leaps and bounds over the last few years and now op­er­ates in the Dutch- and English-speak­ing Caribbean in­clud­ing Belize and Panama. “We also op­er­ate in forty-six states in the United States,” he clar­i­fied.

Poised for fur­ther ex­pan­sion in the East­ern Caribbean, the CEO in­formed the gath­er­ing that this year Sagi­cor will launch an IPO of­fer­ing 25% in shares to the gen­eral pub­lic in the re­gion.

Trevor Vigo, Vice Pres­i­dent of Sales and Mar­ket­ing at Sagi­cor, in­tro­duced the Sagi­cor 175 En­dow­ment Plan. “This plan,” he said, “pro­vides pol­i­cy­hold­ers with a ben­e­fit pay­ment af­ter 25 years. Sim­ply put, the plan not only pro­vides life in­sur­ance cov­er­age but it also pays a lump sum at the end of the pol­icy.”

Vigo then in­tro­duced Leathon Khan as the new head of the Saint Lu­cia op­er­a­tions. He de­scribed Khan as “a cer­ti­fied char­tered in­sur­ance prac­ti­tioner who has gained ex­pe­ri­ence in Ja­maica as well as Trinidad.”

“It is an ex­cit­ing time here at Sagi­cor and through­out the Sagi­cor Group,” pro­claimed Khan. “There are a num­ber of strate­gic de­vel­op­ments and ini­tia­tives in train that will pro­pel our or­gan­i­sa­tion into the fu­ture,” he an­nounced.

His pri­mary goals as the new team leader, Khan said, are to con­tinue to build pro­gres­sively on the suc­cesses of the com­pany, to strengthen and sus­tain lead­er­ship po­si­tion­ing in the mar­ket and to en­hance the qual­i­ta­tive aspects of ser­vice de­liv­ery. He added “re­la­tion­ship build­ing with cus­tomers” and in­dus­try part­ners” to his list.

Claudius Fran­cis brought salu­ta­tions on be­half of the In­sur­ance Coun­cil of Saint Lu­cia and lauded Khan a suit­able choice as Sagi­cor’s man at the helm of the Saint Lu­cia op­er­a­tions.

Sagi­cor also rec­og­nized the con­tri­bu­tions of a num­ber of per­sons in­clud­ing long-stand­ing cus­tomers Sir Leton Thomas, An­drew Green and Felicite Lu­cien as well as Stephen McNa­mara.

Chair­man of the board Stephen McNa­mara

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