Home' Trinidad and Tobago Guardian : March 20th 2014 Contents RAPHAEL JOHN-LALL
The new Insurance Bill should
clean up "deficiencies" in the
insurance industry, said A Nor-
man Sabga, chairman and CEO
of the ANSA McAL Group.
He said: "Over the past 50 years
the insurance industry has endured
many changes... new market
entrants, company closures, inter-
ventions and increased vigilance
by our regulators.
"The new Insurance Bill which
the Central Bank has been advo-
cating is expecting to address defi-
ciencies in the industry. It is still
being considered for implemen-
tation and is expected to be pre-
sented before a Joint Select Com-
mittee of Parliament this year.
"We welcome this and will con-
tinue to be prudent in the man-
agement of our own affairs."
Sabga was speaking yesterday
at the Tatil General and Life Agents
Awards 2012/2013 at the Hyatt
Regency, Port-of-Spain. The win-
ner of the top agent award for 2012
was David Stevens while the win-
ner of Tatil's Executive Award for
2012 was Ken Williams.
Sabga said since the company's
founding in 1963 the premium
income had grown from $634,000
to $313 million.
He added: "Tatil's balance-sheet
size is among the largest and
strongest and its net income ranks
second highest in the industry.
Since 2007, we have achieved and
maintained an AM Best Rating of
"Similar to Tatil, our life com-
pany also boasts of impressive
results. As at December 2013, net
assets stood at $655 million, gross
premium for this year was $128
million and we were able to gen-
erate a profit before tax of
Despite Tatil's successes, Sabga
said that was not the story for the
entire industry as many insurance
agents did not make it.
"It is a well known fact that the
vast majority of insurance agents,
mainly in life insurance, fail and
fall out of the industry in just their
first few years.
"But few industries outside the
financial services industry offer
the potential for relatively new
professionals to make significant
income within their first year of
employment," he said.
He also said the entire global
business environment was in
change, with established brands
being wiped out and being
replaced by newer entrants into
"Looking into the future, it is
important that Tatil continues to
evolve to maintain our competitive
"We need to realise the full
potential of the marketplace. The
world is changing at an alarming
pace, for example, Blackberry was
an incredible innovation that came
into the market a few years ago
and now it is fighting to stay rel-
evant," he added
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The NGC Bocas Lit Festival has been
gaining recognition, to the extent that
this year there will be a five-day festival
instead of the usual four days, says its
founder and director Marina Salandy-
She said so yesterday at the festival's
launch at the National Library, Port-of-
Spain. It runs from April 23-27 and the
children's festival starts on March 29.
In giving highlights of the various
activities, she said it catered to everyone,
from the youngest to the oldest, who
likes to hear, read, write or tell stories.
Salandy-Brown said when the festival
started in 2011 there was uncertainty
about its popularity.
"I can report that attendances have
grown from over 3,000 for all the events,
including children, in 2011 to 4,500 in
2013," Salandy-Brown said.
The National Library and the Old Fire
Station again will host a festival village
where booksellers will put Caribbean
titles on sale. There will also be weekday
lunchtime spoken word events at the
Brian Lara Promenade, Port-of-Spain.
Among the highlights will be a
one-woman play, called He La, based
on a book about medical exploitation
of a poor, black American woman, Hen-
rietta Lacks, Salandy-Brown said.
The play is part of a segment called
"Scotland Presents came out of a
project called Momentum that started
during the Edinburgh Festival which I
attended last year," she said.
The play will run at the Trinidad The-
atre Workshop, Belmont, the week before
the festival. As part of Scotland Presents
there will also be a one-day workshop
on crime-writing. The Friday of the fes-
tival is dubbed "Bloody Friday" after
the festival Bloody Scotland, she said.
"This is a big and popular genre and
surprisingly for a country like ours, where
crime is at the top of the national and
personal list of worries, our literature
hardly deals with it," Salandy-Brown
Another significant highlight this year
is that for the first time a session will
be hosted at the restored Naipaul family
home, the House of Mr Biswas, Nepaul
Street, St James, with Naipaul's cousin,
writer Neil Bissoondath.
Film screenings are also considered
an important element of the festival and
will include one on Earl Lovelace's work-
ing life, a new documentary by Prof
Funso Aiyejina, dean of Humanities and
Education at the University of the West
Indies, St Augustine.
For the second time, the Bocas's Henry
Swanzy Award, an annual lifetime
achievement award that recognises the
services to Caribbean literature by edi-
tors, publishers, critics and broadcasters,
will be made. This year, the award will
go to Profs Gordon Rohlehr and Kenneth
At a separate ceremony, the winner
of the Hollick Arvon Caribbean Writers
Prize will be announced. Among the
finalists are T&T Guardian editor-in-
chief Judy Raymond and Sunday
Guardian columnist Ira Mathur.
New bill will clean up
insurance, says Sabga
Tatil's top agent award for 2012 winner David Stevens, left, receives his
trophy from group chairman and CEO at ANSA McAL group of
companies A Norman Sabga during Tatil and Tatil Life Agents awards
function held at Hyatt Regency ballroom, Port-of-Spain yesterday.
Rohlehr, Ramchand to be
honoured at Bocas Lit Fest
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