Sagicor Life celebrates record year

Sagicor Life of the Cayman Islands celebrated its record-setting 2005 performance last week with a sales awards luncheon at the Grand Old House.

In starting the event, function chairman Karl Williams, Sagicor’s assistant vice president corporate marketing, noted that great things happen to people not necessarily through extraordinary abilities.

‘They sometimes happen out of ordinary abilities followed by extraordinary dedication,’ he said, adding that Sagicor’s 2005 performance was aided by such dedication.

Sagicor Life’s President and CEO, Michael A. Fraser, said the company’s splendid results for 2005 were made all the more impressive because they came in the wake of Hurricane Ivan.

Mr. Fraser noted that Cayman’s resilient rebound after Ivan was remarkable.

‘You look at (Cayman) today, and you say ‘where is the damage? So much new growth has taken place it is phenomenal.’

Mr. Fraser noted that Sagicor had recently purchased a 51 per cent interest in Cayman General Insurance.

‘We are committed to making Sagicor Cayman the insurer of choice in the Cayman Islands,’ he said, noting that it will do that by winning the confidence of consumers and investors.

‘Some people think of Sagicor Cayman as a life insurance company. Truth is, we are a financial services company… interested in all areas of risk.’

Mr. Fraser pointed out that Sagicor has two internally managed investment funds that have performed quite well, with the Sagicor International Equity and the Sagicor Cayman Investment Fund both showing strong returns on investment when looked at over the past three years.

As far Sagicor’s life insurance offerings, Mr. Fraser said the market was moving towards having benefits paid during one’s lifetime as opposed to after death.

‘Sagicor is moving along with industry trends worldwide,’ he said.

Sagicor country manager Claudette Saint-Reid gave an overview of the company’s 2005 performance.

‘2005 represented history in the making,’ she said, noting that the company collected a total of $834,000 in annualised premiums of new business while writing 783 new policies during the year.

The performance equalled 100 per cent of the set quota – which was doubled in June 2005 – and a 94.6 per cent increase over 2004.

The company also was proud to state it had paid out $3.1 million in benefits to its clients over the year.

Mrs. Saint-Reid said that despite the great year, Sagicor could not afford to become complacent.

‘Stakes are even higher in 2006 and we want to surpass $1 million in annualised premiums of new business for the year.’

Sagicor Cayman employees receiving awards included Margaret Powell, who received the Conservation Leader, Cases Leader and Agent of the Year awards; Norman Wilson, who received the Manager of the Year award; Claudette Bell White, who received the Rookie of the Year award; Erna Jane Ebanks, who received the Most Improved Agent award; and Jewel Ebanks, who received the Cases 2nd Place award.

Ms Powell and Mr. Wilson were also recognised for qualifying as Million Dollar agents.

Others receiving recognition for long service were Jenison Nunez, Catherine Perez, Greta Nixon, Roy Archer and Michel Trumbach, who was unable to attend the luncheon.

The guest speaker for the even was Ormond Williams, Cayman National Bank’s managing director.

Mr. Williams focused on the concept of success in his address.

‘It is important to bear in mind that success is not a destination, but a journey,’ he said, adding that people must always be on the path of success.

‘It is as if we are on a road that has no end and the pit-stops along the way are only to savour the moments, reflect, regroup and reenergise oneself for the open road ahead.’

Mr. Williams said it was important for people to find a career they enjoy.

‘Life is too complicated to also find oneself in a job that you dislike,’ he said. ‘Someone once said, ‘find a job that you love and you will never work a day’.’

Mr. Williams warned, however, of sacrificing too much for a job, noting that one’s family and health are invaluable.

‘One must always have good balance between life and work,’ he said.

Karl Williams ended the afternoon by saying the impressive sales numbers were not the only thing that mattered.

‘We also understand the value of one. That’s the value of one agent sitting in front of one client helping them to find their financial solution,’ he said.

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