NAGICO Hands Over New Vehicle to Adina Donovan Home

Press Release – March 19, 2012

NAGICO Insurances, BVI has donated a vehicle to the Adina Donovan Home for the Elderly as part of its region wide 30th anniversary celebrations, further demonstrating the company’s commitment to good corporate citizenship.

The vehicle, a 2012 Kia Sportage which is retailed at US$26,900, was handed over by Chief Executive Officer of the NAGICO Group of Companies Imran McSood Amjad to Minister of Health and Social Development Hon. Ronnie Skelton.

The presentation was done just outside the NAGICO Office, Waterfront Drive on Friday 16 March. Later that evening, the company hosted a cocktail reception at the Moorings Hotel and Restaurant, which was attended by Premier Dr. the Hon. D. Orlando Smith, Hon. Skelton, Minister of Education and Culture Hon. Myron Walwyn, several members of the House of Assembly, and NAGICO clients.

Speaking at the reception, Dr. Smith said he is himself a NAGICO customer, and thanked the company for the presentation of the vehicle. He also commended NAGICO for being a good community-minded corporate citizen in the territory.

Minister Skelton said Government is pleased with such public-private sector partnership, adding that the vehicle will be used for administrative purposes and, in some instances, to transport the residents of the home. In 2004, NAGICO made a similar gesture to the Adina Donovan home.

Mr. Amjad said the company began from humble beginnings in 1982 with limited office space, only a small staff operating from St. Maarten, and $75,000 in the bank. “30 years later the NAGICO Group of Companies has just about arrived at the $100M mark in premiums,” he said.

Managing Director of the NAGICO BVI operations Shan Mohamed said the company has achieved several major goals which it set out to accomplish from the inception. These include becoming number as a general insurance provider, having the fastest growing medical insurance port folio, being the insurance company with the most qualified staff, and serving as a good corporate citizen.

He pointed out that NAGICO is also celebrating 20 years of service in the Virgin Islands, adding that the company has come a very long way from being virtually unknown in 1992 to one of the significant players in the insurance market.

“Our approach was a simple one: focus on specific classes of insurance, and perfect the policy coverage and related services,” said Mr. Mohamed.

He said NAGICO believes strongly that, as companies expand and benefit from the support of customers, its corporate citizenship must reciprocate with tangibly good value and commitment to the community.

Mr. Mohamed noted that this philosophy applies not just in the British Virgin Islands, but also throughout the 18 territories in the Caribbean where NAGICO provides insurance services.

“The same values that help guide NAGICO’s business operations––integrity, care, protection, initiative and innovation––also apply to our corporate responsibility and community outreach efforts,” he said.

NAGICO Insurances, with headquarters in St. Maarten and operations in 18 countries in the Caribbean, opened office in the BVI in 1992. After occupying various smaller offices, the company moved into its own accommodation on Waterfront Drive in 2004. Mr. Mohamed has been heading the operations in the BVI since 1999.

Chief Executive Officer of the NAGICO Group of Companies Imran McSood Amjad
(in green shirt) hands over the vehicle (in background) to Minister of Health and Social
Development Hon. Ronnie Skelton outside the company’s office, Waterfront Drive, Road Town.


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