Island Heritage has plans to enter the Jamaican property insurance market.
Jamaican firm Nova Underwriters will represent Island Heritage as its exclusive Jamaican agent. The strategic partnership between the two firms was formally announced at a cocktail reception 15 November at Kingston’s Terra Nova Hotel.
Jamaica’s Finance and the Public Service Minister Audley Shaw welcomed Island Heritage to Jamaica, stating that the move would be a tremendous boost to regional business integration and would be an important benefit to the country – strengthening the island’s ability to weather and recover from natural disasters and catastrophes, states a press release.
Island Heritage boasts an A- (excellent) industry rating, awarded by the A.M. Best Co. Established in 1899, A.M. Best is one of the world’s oldest and most authoritative insurance rating and information sources. A financial strength rating of A- reflects Island Heritage’s sound capitalisation, excellent balance sheet liquidity, growing market presence in the Caribbean and its comprehensive reinsurance programme.
Headquartered in Grand Cayman, Island Heritage was established in 1996 and was the first company in the Caribbean to exclusively target the property insurance market, providing a wide range of residential and commercial policies with special emphasis on catastrophe insurance. Its penetration into the wider Caribbean over the last decade through a network of licensed agents and brokers is testament to its savvy in the industry.
‘An essential element to our success is the calibre and vitality of our local agents,’ said Island Heritage CEO Bryan Murphy. ‘In Ken Osborne, managing director of Nova Underwriters, we have one of the most knowledgeable, experienced, property insurance professionals in the region. We are proud to have him on board our team.’
Islands around the region being served by Island Heritage include Anguilla, Antigua, the Bahamas, Barbados, the British Virgin Islands, the Cayman Islands, Curacao, Dominica, Grenada, St. Kitts, St. Maarten, St. Lucia, St. Vincent, the Turks and Caicos Islands,