The Massy United Insurance Company, which was started in Barbados in 1976, has now officially launched its full presence in the Guyana market with the takeover of the John Fernandes Insurance Company.
The two companies have completed an agreement which sees Massy absorbing the John Fernandes Insurance brand.
At a reception to mark the launching on Tuesday evening at the Pegasus, Chairman of the John Fernandes Insurance Company, Chris Fernandes, explained that the agreement took years of negotiation.
He told a gathering of Insurance and Business executives that “the pleasure of our agreement is not only for my benefit, but for that of our loyal policyholders who have stuck with us through the years as we changed from one principal to the next. Massy United is a very strong Company, it is well respected in the world of Insurance and I am proud to recommend them to you.”
Mr. Fernandes has agreed to stay on as the company’s Principal Representative in Guyana and will remain associated with the company for another five years.
He recalled his own rise in the Insurance market and the lessons taught to him by his father. Mr. Fernandes noted that the Insurance landscape has changed in Guyana over the years but he is proud that the John Fernandes Insurance Company was able to remain committed to the country as others moved on.
The Massy Insurance Company is one of the largest in the Caribbean region. It has branches in 19 countries from Guyana to The Bahamas and Belize.
The Chief Executive Officer of Massy United Insurance, Howard Hall, pointed out that his company is one of the most financially strong General Insurance Companies in the Caribbean, “with capitalization in excess of US$70 Million.”
He said the Massy Company is on a journey to become a great company and has been investing heavily in “our people and technology in order to better serve our valued customers.”
The CEO noted that the move into the Guyana market augers well for Guyana and the company itself.
The main Guyana office will be housed at 126 Carmichael Street and the company is expected to launch an aggressive marketing campaign as it seeks to build its customer base and become a household name for insurance in Guyana.