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HISTORY
Insurance Brokers West Indies Limited was established on the 29th May 1947 and was originally called R.W. Connolly & Company Limited. By special resolution on the 23rd March 1961 the name of the company was changed to Insurance Brokers West Indies Limited. We are the oldest Insurance Broker in Trinidad & Tobago.
Following the initial establishment of the company in Trinidad & Tobago, wholly owned subsidiary companies were also set up in Barbados, Jamaica, St. Vincent and Guyana. Insurance Brokers West Indies Limited was itself a subsidiary of Marsh & McLennan Companies Inc., the largest Insurance Broker in the world. In 1987, IBWIL’s local management team successfully negotiated the purchase of Marsh & McLennan’s entire shareholding and the company become 100% locally owned.
The design, structure and placement of our clients Risk Management & Insurance Programs are of paramount importance to us. Only properly trained and experienced Insurance Brokers can effectively analyze clients various loss exposures and then design a comprehensive Risk Management & Insurance Program to address potential losses. Training therefore is critical to the Insurance Broking profession.
Such is the standard of IBWIL’s internal training that when we applied to the Chartered Insurance Institute, UK, for Chartered Insurance Broker status, our application was promptly processed and we were awarded the title, “Chartered Insurance Brokers” on the 13th October 2014. In order to be awarded Chartered Insurance Broker status, among other requirements you must have evidence of a program of Continuing Professional Development as well a Code of Ethics.
IBWIL’s late Executive Chairman, Mr. Prakash Bhaggan was largely responsible for the establishment of Insurance Brokers West Indies Limited becoming the first firm of Corporate Chartered Insurance Brokers in Trinidad & Tobago. Mr. Bhaggan who joined IBWIL in 1973 dedicated 45 years to its development and success. The IBWIL brand is now synonymous with technical competence and unrivalled claims advocacy because of his unrelenting pursuit of perfection in the Insurance Broking profession.
See http://www.cii.co.uk/membership/chartered/ for further details of our Corporate Chartered Insurance Broker Status.
IBWIL is the first and only local Insurance Broker to be awarded Chartered Insurance Broker status.