Insurance brokers band together to offer services in oil and gas

At a recently held General Meeting of the Guyana Insurance Brokers Association (GIBA), Peter Abdool was unanimously elected to serve for the 2020/2021 term as President.
According to the body, Abdool is experienced in the insurance industry and well-positioned to lead the organization during this period of its history.
He is the Managing Director of Abdool & Abdool Inc-Insurance Brokers and Financial Consultants which has been in operation in Guyana for 46 years.

GIBA also announced that the brokers have signed off on a Memorandum of Understanding (MoU) for the formation of a “Brokers Alliance” called Syndicated Oil and Energy Brokers Alliance (SOEBA).
“This MOU has been in discussion for the better part of two years and has culminated in this historic signing which occurred on Wednesday, December 2, 2020 at GTM’s Conference Room. The Alliance is in the process of incorporation and application to the Office of the Commissioner of Insurance for a broking licence to facilitate the consortium’s mandate.”
The news would come as Guyana gets ready to complete one year since oil production started offshore Guyana.

According to GIBA, Immediate Past President, Bishwa Panday, was also unanimously elected to serve as the Vice-President of GIBA for the forthcoming year.
Panday has served the insurance community for close to 50 years and is the Chief Executive Officer of P & P Insurance Brokers & Consultants Inc.
Meanwhile, Raj Singh, a Chartered Insurance Practitioner, was appointed as the Honorary Secretary of GIBA for the 2020/2021 year.

According to GIBA, he is the CEO of Raj Singh Insurance Brokers & Risk Management Consultants Inc. in Guyana and Risk Solutions Insurance Brokerage LLC out of Florida, USA. He has served the insurance industry for 37 years.
Managing Director of Insurance Brokers Guyana Ltd, Ewart Adams, was elected to serve as the Honorary Treasurer. He too boasted over four decades of service within the insurance industry.
Ronald Williams, Director of Apex Insurance Brokers Ltd, was elected to represent GIBA with the Insurance Association of Guyana and Bish Panday as his alternate.