The grand opening ceremony of NAGICO Assurances on French St. Martin was considered by many as yet another important step towards increased unity and cooperation between French and Dutch St. Marten at all fronts and in particular economic development through accessibility of valued financial products and services, that benefit the peoples and businesses of both sides of the island.
NAGICO which was born in 1981, and opened offices on 1st of February of 1982 on Dutch St. Maarten, had as its first shareholders Mr. Richard Gibson Sr., Charles Vlaun, Albert Wathey, Vance James Sr., Albert Fleming and Mr. Beresford. The company has now grown throughout the North Eastern Caribbean, represented on 14 islands with the opening of NAGICO Assurances. The company can be viewed as an icon of St. Maarten export, expanding and introducing its financial products and services throughout the region – the reverse of what has been the norm for so many years (as explained in the CEO's address).
The attendees included dignitaries from Dutch and French St. Martin including Prime Minster Sarah Wescot-Williams, President of the Collectivity Mr. Frantz Gumbs, Deputy Prime Minister, Mr. Theodore Heyliger, and French St. Martin Senator Mr. Luis Constant Fleming, with the two heads of state assisting CEO of NAGICO Insurances Mr. Imran McSood Amjad with the cutting of the ribbon to officially mark the opening.
Prime Minister Sarah Wescot-Williams, President Frantz Gumbs were among those invited to address the gathering and both acknowledged the historic occasion for the peoples of French and Dutch St. Marten. Others included: Mr. John Lawrence, Mandataire Général; Ms. Francesca HUNT, Directrice des operations; Mr. Steve TACKLING, Président de la CCI; Mr. Alain Richardson of CECOR and Senator Louis Constant Fleming.
Mr. Imran McSood Amjad stated in his address: "Ladies and Gentlemen I am pleased to welcome each and every one of you to this special occasion, as we officially open our offices here in Marigot, French St. Martin.
Whilst we have operated offices only on Dutch St. Maarten for nearly three decades, we provided coverage to all the people of St. Maarten/St. Martin who chose to insure with us. This has sometimes been met with resistance but in the spirit of the "Treaty of Concordia" existing between our nations for nearly 4 centuries, we persisted until now, having received the relevant approval from the Regulatory Bodies. It has been a long and tedious process to get this far starting with obtaining our license, registering ourselves at the Chamber of Commerce, the Guarantee Fund, the ACP, opening bank accounts and design, renovation and furnishing of the office.
We have had to face many hurdles, not least the constant attack by some, to tarnish our reputation with several damaging articles in various newspapers. NAGICO chose not to respond to any of these but instead concentrate on what we do best: Developing an insurance operation with a professional team of personnel and meeting all local and federal regulations, policy conditions, etc.
NAGICO has been known for over the years as a good corporate citizen, very conscious of the sporting, educational and social issues and needs of our society and we intend to pursue the same path of French St. Martin. At the same time, we will endeavor to build and even stronger company for the benefit of our many policy holders.
NAGICO is perhaps the only St. Maarten Company that exports services to other territories which is a reverse of what has been the norm for so many years.
I have been asked many times why we choose to do business on French St. Martin where it is assumed to be most difficult. The answer is simple: "We believe in one people, one island, and one destiny." We also believe that French St. Martin will rise again and there will be fiscal initiatives, already starting, that will help to boost the fledging economy. We have faith in the resilience of the people on this island not least those of our brothers and sisters on the French Side.
I would like to close by thanking the Government and People of French St. Martin for their support. However I especially want to thank Ms. Francesca Hunt (Director of Operation French St. Martin Office), hard work, dedication, and "never say never" attitude. I have great hopes for this daughter of the soil to grow NAGICO substantially here and abroad. Special thanks goes out also to Mr. Alain Roper, our IT consultant and in my opinion, a local computer genius, Mr. John Lawrence our "Mondetaire General" and the rest of our Supervisory and Managing Board, Agents, Brokers and staff, finally my wife and kids for their continued support. May God bless you all!! Thank you."
