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Saturday 21 September 2019
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Good news for ANSA Merchant Bank shareholders

Despite last year's challenges, shareholders of ANSA Merchant Bank Ltd can look forward to a productive 2019, according to senior management officials at the company's annual general shareholder's meeting on Tuesday.

Speaking at the Radisson's meeting room, managing director of Tatil Musa Ibrahim expressed optimism that 2019 was generally positive, based on revenue generated in the first quarter.

Citing Tatil's AM Best rating as one of the largest among Caribbean insurance companies, Ibrahim credited prudent management and a growing client base for the company's success, despite the challenges of last year's earthquake, flooding and market fluctuations.

"Of all the Caribbean insurance companies that are registered with AM Best, Tatil has the largest balance sheet of them all. In fact, our balance sheet at the end of 2018 stood at over half a billion TT dollars, at $531 million.

"One,I can tell you the general insurance company has continued to grow in terms of client base. We are focusing on the prudent growth of clients in terms of the right risks to insure, but secondly we had a better performing investment market which tanked in December but recovered in January. The results reflects that."

Ibrahim also attributed part of the company's success to greater investment in information technology and more user-friendly, web-based opportunities to do business.

"Investing in IT shows that we recognise the importance to change systems to get to a higher level of efficiency. I can say we have seen the positive impact of business. especially in a few lines of business such as the health portfolio, which has undergone a complete IT transformation."

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