Insurance Brokers launch

CGM Gallagher Insurance Brokers (St.Vincent) Limited was formally launched in St.Vincent and the Grenadines on Wednesday, August 13, 2008.{{more}}

Patrick Gallagher Jr., Chairman and CEO of Arthur Gallagher and Co, who was on hand to witness the launch at the CGM Gallagher’s Beachmont Office, said the partnership shared by the companies is a strategic one. He noted that he is looking forward to a long and rewarding relationship with the CGM group.

Patrick remarked on the completion of the transaction: “This partnership broadens our international presence and offers our clients an increased spectrum of services and geographic coverage throughout the Caribbean.”

Prior to the new alliance with CGM and Arthur Gallagher and Co., CGM Barbados and the International Insurance Brokers (IIB) of Jamaica had enjoyed a strategic partnership.

Errol Allen, Master of Ceremony said, even though they were the first of the insurance brokerage organizations to strategically move to a pan-Caribbean model, and were able to combine to establish a foothold across the Caribbean, the companies felt the need to have an international presence.

He disclosed that it was not long before a suitable international partner was found in Arthur Gallagher and Co., the world’s fourth largest insurance broker, who bought a 38 per cent stake in the CGM Group Ltd to expand in the Caribbean.

CGM Gallagher Insurance Brokers (St.Vincent) Limited will be offering brokering services to commercial clients. It also offers a general class of insurance, property insurance, business insurance, as well as medical insurance.

Paul Seale, Branch Manager of CGM Gallagher Insurance Brokers (St.Vincent) Limited said: “This is a fantastic opportunity where we as a regional company have a bridge to the international market.” He said ties were established with an international broker to enable the company to offer broader services to its clients. (HN)