Raymond Walker Signs With Mayberry For Caribbean Assurance Brokers IPO Prospects
Photo Caption: Raymond Walker Chairman & CEO Caribbean Assurance Brokers signs mandate with Tania Waldron Gooden, Senior VP of Investment Banking Mayberry Investments.
KINGSTON, Jamaica – Caribbean Assurance Brokers Limited (CAB) has retained the services of investment bank, Mayberry Investments Limited (Mayberry). In a deal signed earlier this week, Mayberry will now act as the company’s financial advisor.
CAB, which began operations in November 2005, as a retail and facultative placement broker for Life, Health and Personal Accident insurance business, now provides access to all major world insurance and re-insurance markets. In 2006, the company began the marketing and placement of its International Comprehensive Health Insurance Programme (ICHIP), which is now insured 100 per cent by Lloyd’s of London, through its administrator, International Medical Group (IMG). Today CAB possesses the largest international health insurance portfolio in Jamaica and has assisted its clients in securing medical claims pay-out in excess of US$20 million over the past ten years.
Headed by Chairman and CEO, Raymond Walker, CAB started out with a staff complement of 11 and now boasts one of 100. As a multiline insurance brokerage, CAB now offers the full range of insurance products including: General Insurance (Property, Motor, Business Interruption, Miscellaneous Accident Lines, Liabilities, Marine & Aviation); Employee Benefits (Group Health & Life, Pension, Personal Accident); Individual Insurance (Local Life & Health); International Insurance (Health and Life, along with Travel Insurance, distributed by travel agencies, overseas career placement agencies and credit unions) and Local Medical Insurance plans for credit union members (C.U. Gold Series), distributed by credit unions.
Gary Peart, CEO of Mayberry, speaking on working with the team at CAB said, “this is yet another relationship that shows that whilst we have an established reputation for helping small and medium sized companies grow, we possess the expertise to advance mature, well established companies as well. We look forward to working with the team at Caribbean Assurance Brokers to determine the best path for growth for their business”.
Walker, speaking on the prospects for growing the business said, “I am excited about the opportunities for regional expansion, as we finalise negotiations with prospective partners to facilitate our thrust throughout the Eastern Caribbean and beyond”.
CAB, considered one of the largest brokers of managed employee benefits portfolios, has consistently ranked among the top 3 producing brokers for Employee Benefits and Individual Life insurance for Sagicor and Guardian Life. The company has been actively involved in several social outreach programmes, including the adoption of a Place-Of-Safety, and has recently launched its extensive Loyalty Programme, dubbed “the mother of all loyalty programmes” as an additional value proposition to all its clients. BM