Wednesday 21 November, 2018

Guardian Life to outsource role of company actuary

Eric Hosin, President of Guardian Life says the company is confident that the decision will deliver increased value to its clients and shareholders.

Eric Hosin, President of Guardian Life says the company is confident that the decision will deliver increased value to its clients and shareholders.

Guardian Life is in the process of outsourcing the position of Appointed Actuary to bring the company’s operations in line with current local insurance industry practice.

Guardian was one of the last insurance companies to maintain this position internally and its board of directors has decided that it is now time to adopt the industry practice and effect a change in this aspect of its organisational structure and operations.

Consequently, the position of VP - Actuarial Department is being made redundant and the process of formalising the appointment of an external company to provide that service to Guardian Life has begun.

"As Guardian Life continues to adapt to the evolving environment of the insurance industry, the company is undergoing changes, including removing the position of Appointed Actuary from a staff position to a contracted one, which is a standard practice across the industry,” said Eric Hosin, President of Guardian Life.

“The company is confident that this decision will deliver increased value to its clients and shareholders,” he continued.

Guardian Life Limited is an insurance company which has been operating in Jamaica for the past 18 years. It is engaged in the underwriting of all classes of long-term insurance business and is considered the company for insurance solutions and financial strength.

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