Insurance Association of Guyana opens first office
The Insurance Association of Guyana (IAG) at a simple ceremony on Friday opened its first office at Lot 35 King Street and North Road, Georgetown.
The institution has been in existence for almost 50 years and was previously housed at the home of the company’s secretary.
The function of the IAG as a regulatory body is to meet and make decisions on the
President of IAG, Yogendra Arjune and Regulator of IAG Tracey Gibson cuts the ribbon to declare the new office open
way forward for issues that affect the industry.
There is a Regulatory Body, Executive Body, Broker, Fire Section Committee, Light Section Committee, Accident Committee and of recent an Anti-Money Laundering Committee all under the IAG.
All of the insurance companies in Guyana are under the IAG which sums up to a total of 15 companies along with six brokers.
President of IAG, Yogendra Arjune, said he is happy to finally have a fixed office where their work could be carried out effectively.
He added that the realisation of an office could not have been possible without the cooperation from the entire industry, all of the brokers as well as the insurance companies.
“So this will be a continued existence of this office as we will be able to do many different things here now. A lot needs to be done in the insurance industry and this is just the start, our collective ideas and we will come together to move the industry forward,” Arjune said.
Regulator of IAG, Tracey Gibson, in her remarks congratulated IAG on the significant accomplishment which according to her “has been a long time coming”.
Gibson said it is important for the IAG as a body to have such an office in place with respect to the accumulation of industry statistics which would not only help them but the public will also benefit.
Following the brief remarks from the heads, the ribbon was cut thus officially opening the new office.
