General Insurance Underwriters

About Us

Furness Anchorage General Insurance Limited or FAGIL as it is familiarly known, was formed in 1979 in response to the Trinidad & Tobago Government’s desire to see control and ownership of insurance companies in local hands. The Major subscribers to the company included English and American Insurance Group (part of C T Bowring / Marsh Mc Lennan Group), Southern Sales & Service (local Automotive Distributor), Marley & Company, F C Almondoz and Furness Trinidad Limited. Apart from providing the necessary capital to commence business, the Insurance Portfolios of those companies were directed towards the company.

Furness Trinidad later acquired 98% of the company and became its major shareholder and controller. Our Parent company which was established in 1845 as Turnbull, Stewart and Company represented many Insurance Companies Including Barbados Mutual Assurance Society (Now Known as Sagicor) and Mercantile Fire Insurance Company and later North British and Mercantile and Economic Insurance (both owned by Furness Withy of London).

The Furness Group also had extensive Insurance Broking operations in the Caribbean when it partnered with C T Bowring / Marsh Mc Lennan to establish Broking companies in Trinidad, Barbados and Guyana which were eventually sold as it focused it attention to General insurance Underwriting.

The day to day operations of the company are managed by an experienced team of insurance professionals who are committed to the company’s mission of providing a stable market for property, motor and casualty products.

Our reinsurance program is provided by AON Canada and United Insurance Brokers in London and comprise only first rate security such as Everest Re, Paris Re, QBE Re, Odyssey Re, Scor Re and Korean re.

Our Group's Balance Sheet is very strong and boasts of Assets of $TT 175 M and Retained earnings of $TT 85 M.

Corporate Information:

Directors:

• William A Ferreira BSc (Marketing), MCMI (Chairman)
• Patrick A Ferreira BSc (Risk Management), FCMI (Chief Executive Officer)
• Videsh Praim ACCA, CA
• John G Ferreira
• John B C Martin FCA CA
• Robin Otway

L to R: John G Ferreira - Director, Videsh Praim - Finance Director,
Patrick A Ferreira - CEO, William A Ferreira - Chairman,
John B C Martin - Non Executive, Robin Otway - Non Executive

Audit Committee:

• John B C Martin FCA CA (Chairman)
• Robin Otway
• Patrick A Ferreira FCMI, B.Sc.

Investment Committee:

• Patrick A Ferreira FCMI, B.Sc. (Chairman)
• Videsh Praim
• William A Ferreira MCMI, B.Sc.

Attorneys:

• Otway and Associates
• M Hamel Smith & Company
• Lex Caribbean

Auditors: PricewaterhouseCoopers

Bankers: RBTT Bank Limited

Products:

• Fire and Perils
• Motor
• House-owners/Householders comprehensive
• Workmen’s compensation
• Personal Accident
• Bonds