Partnering with local investor Ryan Pereira of Cataleya Energy, Trinidad and Tobago-headquartered CIC insurance brokers has entered the Guyana market and said it looks forward to helping develop the industry here as it taps into the oil and gas market.
“CIC Insurance Brokers (Guyana) Inc. looks forward to rolling out our suite of services in Guyana and to further adding to the development of the insurance industry in Guyana,” the company said in an advertisement in yesterday’s Sunday Stabroek notifying of its launch in this country.
Located in Barima Avenue, Bel Air Park, the company said that it has partnered with the Zarc Group of Companies as it expands its services.
“This initiative will add value to the burgeoning Guyana insurance market by leveraging the experience gained through its 52 years of insurance brokerage in the oil and gas, financial, manufacturing, hospitality and retail sectors,” the company stated.
“This partnership will allow CIC to provide services of the highest quality. With Zarc’s proven track record, knowledge and understanding of the local business environment and CIC’s depth of experience in the sector, CIC Guyana will be uniquely positioned to provide risk advisory and risk transfer through insurance products with the widest scope of cover at the most competitive prices together with claims advocacy to new and existing clients,” it added.
On the Board of Directors of the company are Chairman Andrew Aleong, Directors: Mark Henderson, Travis Ali, Moen McDoom Jr and Ryan Pereira.
Pereira is the Chairman of Zarc Group of Companies and states on his LinkedIn profile that he has been with the company since July of 2014. There is also Zarc Mining, Zarc Properties Inc. and Zarc Venues of which he is the Executive Chairman.
He boasts of being co-founder of Cataleya Energy Limited in 2012. Cataleya is the company that sold half its shares in the offshore Kaieteur Block to ExxonMobil.
The Kaieteur licence was initially awarded to two companies, each receiving 50% of the oil block. These two companies were Ratio Guyana and Ratio Energy, the latter of which at the time was owned by an Israeli-based lawyer named Richard Roberts.
Pereira, had been the representative of Ratio Energy when it received a licence for operations in the Kaieteur Block and was one of two men, the other being Michael Cawood, who managed the Cataleya Company when it bought Ratio Energy.
Within months of signing the 2016 Production Sharing Agreement with the government, ExxonMobil bought shares in both the Canje and Kaieteur blocks, a move that has been questioned by observers.
It had been reported that for 50% of shares in the Kaieteur Block, ExxonMobil paid US$455,000 to Ratio Guyana. According to Ratio Petroleum, Exxon also paid US$350,000 to the other Kaieteur licence holder, which Ratio Petroleum called its “local partner.”
Pereira has been mining for a number of years and has other business investments, according to a Private Sector Commission executive.
Meanwhile, CRC has said that having been around for over fifty years, it is a leading insurance brokerage and risk management firm.
“We develop innovative and industry-focused insurance solutions tailor-made to protect your business. As your partners you can rest assured that your assets and liabilities are adequately covered so you have the freedom to do what’s right for your business and focus on achieving your long-term goals.”
According to the company, it has over the years developed longstanding relationships with many of the leading Global Insurance Brokers including Alesco, Aon, Lockton, Marsh, THB and Willis among others. “When our Clients require insurance programmes or covers not available in the local market, we utilise our global relationships to deliver comprehensive and competitive solutions through reinsurance placements specially designed to cover the needs of their growing businesses”, its profile states.
