TRINRE was established over 35 years ago and is now a composite company that is one of the fastest growing independent insurers in Trinidad & Tobago. TRINRE's growth is premised on the company's policies that are intended to promote good corporate governance, employee development and excellence in customer service experience. Relationships with 'A' rated reinsurers enable the company to offer an increasing range of insurance products and services including packaged business insurances and specialty services for liability and bonds, as well as offshore liability.
A little of our history
TRINRE was established on July 3, 1975 by the Government of the Republic of Trinidad and Tobago (GORTT) and was born out of the worldwide economic philosophy that encouraged governments to foster indigenous markets, preserve foreign exchange and develop domestic capital markets.
At inception, TRINRE was owned 60% by GORTT and 40% by local insurance companies. TRINRE promoted a policy that ensured maximum local participation and served as a crucial catalyst in the development of the local insurance industry.
During this time, TRINRE was able to place large pieces of business in the international market and some of TRINRE's noteworthy contributions were:
- Management of international placements for major industrial risks during construction. For example, the Iron & Steel Company of Trinidad & Tobago and the Mount Hope Medical Complex.
- Placement of re-insurance for the GORTT and associated state enterprises.
- Functioning in an advisory role to the Insurance Regulatory Authority of Trinidad & Tobago in the areas of legislative and market conduct issues.
In 1994, The GORTT divested its interest in commercial enterprises which led TRINRE to begin writing direct business in Trinidad and Tobago.
In 2001, Investment Managers Limited (IML), a private investment holding company, acquired majority shares of TRINRE.
The combination of strong, independent leadership has always been of paramount importance and the current Board of Directors comprises a robust diverse mix of expertise and experience that reflects the company's commitment to a business philosophy that is premised on people, profit and community as well as its vision that clearly articulates its strategic focus and direction:
- To be a respected and admired company built on an enduring foundation of financial health grounded in strong Corporate Governance and citizenship, fuelled by innovation, passion and talent.
- To gain leadership in the markets we serve, by surpassing the expectations of our customers and consistently honouring our obligations.
- To be recognised for our social conscience by supporting the well being of our colleagues, environment and communities.
Key pillars of TRINRE's success include its ability to respond to the continuous development of strategic intelligence through people and systems as well as the ability to build strong relationships particularly with reinsurers and brokers. This enables TRINRE to offer unique products like offshore liability and above average capacity in bonds and engineering lines.