Two former government ministers have been appointed to the board of directors of the Caricom General Insurance Com-pany Inc, the former Guyana Fire, Life and General Insurance Com-pany (GuyFlag) Inc.
According to court documents, former human services minister Bibi Safora Shadick and former fin-ance minister Saisnarine Kowlessar now hold the positions of secretary and chief executive officer respectively on the board.
The notices of these two positions were given on December 6, 2006 to the former ministers.
Shadick replaces Alvin Yassin who was secretary during the period when the company was named GuyFlag and Kowlessar replaces Joshua Safeek, who was the CEO.
Among the other names on the board as of December 2006 are Anthony Soares, president; Sandra Safeek, treasurer; and Tyrone Singh and Rishi Singh, vice presidents.
In September 2005, GuyFlag was implicated in a $400 million insurance scam and the company received another blow when its application for a licence as an insurance provider was denied. The company then moved to the High Court to have the denial reversed.
This case is still being heard and comes up again on March 12, 2007.
