NAGICO has been delivering on its promise of fast and fair claim settlement since the passing of Hurricanes Irma and Maria.
The loss suffered throughout the region as a result of Hurricanes Irma and Maria is significant. Of the 21 territories within which NAGICO operates, 9 were impacted, with St. Maarten, St. Martin, the British Virgin Islands, Anguilla and Dominica being the most severely affected by the storms. We are pleased to advise that our staff are all safe and following the events they quickly mobilized to restore our operations as well as visit and assist our customers. Almost two months later, having had
international independent loss adjusters assess the majority of the loss locations, we expect NAGICO’s gross loss from Hurricane Irma to be in the region of $400 million and $150 million for Hurricane Maria. These gross losses are well within our reinsurance program which was purchased based on RMS modelling. NAGICO remains financially strong and stable. Despite the widespread destruction, which is still visible on the islands, the people have a positive and forward looking attitude.
There is a buzz. Rebuilding has begun and NAGICO is doing its part to ensure that claims are quickly settled to facilitate this process. On behalf of the management and staff of NAGICO, thank you for your kind words and care packages following the passage of Hurricanes Irma and Maria. We sincerely appreciated it.