A Look at our Past
The history of NAGICO is an amazing story of vision and perseverance. Founded in St. Maarten on February 1, 1982 by a small group of local businessmen and guided by the philosophy that impeccable customer service, careful selection of risk, strategic use of reinsurance and fast and fair claims settlement, NAGICO has been catapulted from a start-up into the mainstream.
By the time Hurricane Luis landed thirteen years later, NAGICO had already expanded into Anguilla, Antigua, the British Virgin Islands, Dominica and Montserrat. Five other storms would hit St. Maarten and the surrounding islands in the 1990s, wreaking unimaginable destruction. Combined, our claim payouts surpassed USD200,000,000.
Our Present Outlook
Bolstered by our experiences and successes, NAGICO launched into a program of strategic expansion throughout the region, a well-thought-out plan to 'spread the risk'. We now operate in 19 territories (and growing) and have gross premium income of over USD 133,000,000 and the best catastrophe reinsurance protection plan in the region.
Highly rated by international rating agency – AM Best, NAGICO continues to invest heavily in our people and we boast an exceptional Team of highly-qualified, knowledgeable Executives, Management and Staff.
A huge part of our success is based on our proactive, innovative corporate culture. NAGICO's custom-built insurance management software (IMS), Insurance Pro 3.0, is a prime example.
Developed with latest in cutting-edge Microsoft technology, Insurance Pro allows us to deliver the fastest turn-around time to our customers and manage and monitor the many moving parts of our operation while seamlessly extending the same support and capabilities to our many agents and brokers.
In the recent past, in an effort to guarantee better service and efficiency, we've created 'Centers of Excellence' – strategic groupings of NAGICO islands based on geographical proximity. We've assigned direct responsibility for these COEs to various Executives tasking them to guarantee all-round 'Excellence'.
A Look to our Future
2014 marks NAGICO's 32nd year in business. We're proud that NAGICO has, in such a relatively short space of time, become a leader in Caribbean insurance.
The expansion continues. In keeping with our driving focus to become the leading general insurance company in the Caribbean, NAGICO continues to consolidate growth while evaluating expansion opportunities in various parts of the Caribbean and possibly beyond in the short- to medium-term through a combination of strategic acquisitions and organic growth.
Another growth area for NAGICO is the Group Life and Health business. We're steadily expanding this line, offering our outstanding NAGICARE policy and Life products to more and more markets.
At NAGICO, we believe that our future is bright.