GTM to continue modernising, adapting while preserving values – Chairman

…as company celebrates 100 years

The Guyana and Trinidad Mutual Life Insurance Company Limited (GTM) is celebrating a major milestone – 100 years of continuous service – marking a century since its first policy was issued on October 31, 1925. With this in mind, Chairman of the GTM Group of Companies, Ram L Singh shared that the company is looking towards a prosperous future. “As Guyana moves into a new era, we will continue modernising and adapting while preserving the values that have sustained us for 100 years,” Singh said while delivering remarks at the cocktail reception on Thursday evening at the Guyana Marriott Hotel, Georgetown.
GTM, he noted, remains well-positioned as Guyana’s economy accelerates, driven by transformation in energy, infrastructure, and national development.
“The company remains strong, solid, and reliable. The remarkable economic transformation across Guyana serves as a catalyst for further growth – not only for GTM Life, but for the insurance industry and the entire economy of our beautiful country.” The centennial celebrations brought together executives, policyholders, officials, and invited guests to honour a legacy built on mutual trust, patriotism, and financial resilience. GTM, which offers a wide range of life and general insurance services across the region, is now recognised as one of the most enduring and influential insurance institutions in the Caribbean.

Reflecting on the founders’ vision
Singh highlighted the company’s journey from humble beginnings to becoming a billion-dollar financial pillar. Looking back at the very first days of the company, the Chairman emphasised the significance of its founding moment. “On the 31st of October 1925, the newly established company issued its first policy. The Chief Executive Officer (CEO) at that time, Mr John Ballers, who was the prime mover in the formation of the company, supported by directors at the time, established a company that… generated over $3 billion in premiums and had an asset base of over $24 billion by December 2024.” He took the moment to underscore the debt owed to early visionaries.
“The company owes an immeasurable debt to Mr Ballers, its first Chief Executive Officer, for his persistency and foresight. These early pioneers planted seeds that have grown into an institution that remains committed to serving its policyholders and this nation.”

Commitment to policyholders & mutual identity
Meanwhile, Singh reaffirmed GTM’s origin as a mutual company – one owned by its policyholders – noting that while it expanded into profit-based policies due to industry pressures, its founding principle never faded, lending his perspective towards the company’s founding philosophy and social duty, he said.
“GTM Life, like GTM Fire, was established on the mutual principle – meaning its profits belong to its policyholders. Competitive pressures forced the company to introduce profit-policies in 1915; however, it remained a mutual insurer with a substantial number of with-profit policyholders.”
He added, “Our founders were conscious of a social commitment. As our first chairman, Mr George Kamash, said at the first Annual General Meeting: ‘I stress the importance of patriotism to the inhabitants of this colony… Some kinds of selfishness are noble and commendable – such as making provision for one’s family before doing so for others.’”
During the ceremony, Singh also recognised lifelong policyholder Gopi Charan Sok, who has maintained his whole-of-life policy since January 1965.
“His commitment reflects the trust that thousands of Guyanese have placed in this company,” Singh declared. As GTM enters its next century, the company reaffirmed its commitment to policyholders and national development – honouring a century-long legacy marked by trust, patriotism, and resilience.