Last updated on Wednesday, 7 April 2021, 17:11 by Denis Chabrol
Suriname-based company Assuria Insurance plans to build a ALL $ 800 million five-storey headquarters in Georgetown, Managing Director Yogindra Arjune said on Wednesday.
Speaking on the symbolic turn of the turf on the plot of land at Church and Carmichael Streets, Georgetown, he said the five-storey modern building would be finished in 14 months.
“We are here to stay and contribute to the development of Guyana,” said Yogindra Arjune in brief comments. NABI Construction has been contracted to build the new building.
Assuria began operating in April 2012 and since then, Mr. Arjune said the ISO-certified insurance company now has eight branches, 67 employees and 18 full-time agents.
Finance Minister, Dr. Ashni Singh, said Assuria’s decision to build its own headquarters in Guyana was indicative of its “confidence and optimism” in Guyana along with expanding the economic space in the 15-country Caribbean Community (CARICOM). “By virtue of identifying opportunity outside of Suriname but within the region, Assuria has shown that companies need not only to limit their domestic market once they achieve a certain size and capability but indeed they can look beyond its domestic market. market opportunities outside of their domestic market space, ”said Dr. Singh.
Assuria also operates in the nation of the two islands of Trinidad and Tobago.
Finance announced an exciting appeal for world-class Guyanese companies to expand their operations to other Caribbean and extra-regional countries. “I would like to take this opportunity to tell the domestic private sector to look at the example of Assuria as an example that you can emulate,” he said.
He noted that many Guyanese companies have not improved their standards as a result of the emerging oil and gas sector, adding that they are forecast to expand their international footprint.
The Finance Minister raised the Bank of Guyana Insurance Supervision branch, Guyana Insurance Association and individual insurance companies to educate Guyanese about the importance of insurance as a form of risk management.
He also called on the companies to devise new insurance products to mitigate a range of personal, domestic and business risks, as part of a well-organized, well-regulated and expanding sector.