BASSETERRE, St. Kitts – The insurance sector plays a vital role in the economic development of St. Kitts and Nevis, providing good quality career paths and contributing to the upliftment of the quality of life of the people through the array of services offered.
Delivering the feature address at the `launching of the St. Kitts branch of the Insurance Company of the West Indies on Tuesday, Prime Minister and Minister of Finance, Hon. Dr. Denzil L. Douglas said while competition is always healthy, he was certain that potential clients are best served in an environment that is pro-investment and pro-business in every sense.
“Such an environment is alive and well here in the Federation, and is a real manifestation of the Government’s belief in enterprise development and growth, as core elements of our national development policies,” said Dr. Douglas.
He said St. Kitts and Nevis has been making important strides in the promotion and development of Financial Services and legislative and regulatory frameworks have been designed to ensure integrity of the sector and to provide a high level of confidence for all concerned.
“In today’s challenging financial environment, nothing is more important than the delivery of services in the most ethical of manner, safe-guarding the interests of customers and clients. The resultant high levels of trust would be invaluable for the long-term sustainability of companies. I believe that we are all agreed on this and are working to achieve the very best in standards,” the Prime Minister said.
He said as St. Kitts and Nevis moves further into the development of the Services Sector, it is of critical importance to remember the global competition and the need for both Public and Private Sectors engage in meaningful integration of technology and human resources to create new business models, services and international standards in the delivery of services.
St. Kitts and Nevis Prime Minister Hon. Dr. Denzil L. Douglas (left); Managing Director of Caribbean Financial Associates Inc., Mr. Michael Martin (c) and President of Insurance Compnay of the West Indies (ICWI), Mr. Paul Lalor. (Photo by Erasmus Williams)
Dr. Douglas said that while significant strides have been made in the use of appropriate technologies, all indicators point to greater need for better levels of efficiency and productivity.
He used the opportunity to congratulate Mr. Michael Martin, the Managing Director of Caribbean Financial Associates Inc. and said he looks forward to a vibrant partnership of development between Insurance Company of the West Indies and the people of St. Kitts and Nevis.