Wishing you all a happy and healthy 2022 and may this year be filled with many meaningful moments!
I’d like to take this opportunity to personally thank each of you for your trust, confidence, support and loyalty to NAGICO during 2021. It was another very challenging year, but with the benefit of hindsight, I’d summarise our combined performance as robust. Reflecting briefly upon 2021, although thankfully our region was spared significant damage from hurricanes last year, we witnessed the La Soufrière volcano eruption in St. Vincent which affected many and Hurricane Elsa squeezing by St. Lucia, and on top of these natural disaster events we had to navigate through, yet another Covid-19 dominated environment.
We continue to operate within a very hard market. Globally, 2021 was a terrible year from a catastrophe standpoint and this will no doubt be reflected in the reinsurance market’s offering this year. In addition, our local economies remain strained as governments and businesses attempt to adapt to what seems, now, like almost daily changes in the Covid-19 morphing situation. It is not all doom and gloom though. We have proven time and time again that we are resilient and know what it takes to survive. However, at NAGICO, just surviving is not enough for us and we know you, our trusted partners, share the same sentiment.
We are living in an era of relentless change; thus, we must be agile and dynamic. The most successful companies are those that recognize