GTM opens $52M Vreed-En-Hoop Branch office

Apr 11, 2010 News

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At a whopping cost of approximately $52 Million the Guyana & Trinidad Mutual Group of Insurance Companies dedicated a spanking new Vreed-en-Hoop Branch Office on Friday in Region Three.
This comes because of the unwavering support of residents since the establishment of the first office in 1994 and serves as encouragement for them to make full use of the facilities and the wide range of products and services offered by the GTM through this office, said GTM General Manager Roger Yee at the ceremonial ribbon-cutting.
The branch will be opened for business from tomorrow, April 12, under the supervision of Damyantee Singh.
Before a gathering of special invitees, Mr. Yee said ultimately it is his company’s vision to be the premier customer-oriented insurance services provider in Guyana and the Caribbean.
The Guyana and Trinidad Mutual Group of Insurance Companies delivers services to its clients through sixteen offices in Guyana, Grenada, St. Lucia and St. Vincent. Eleven of these offices are located in communities and townships across the three counties in Guyana.
Commending the company for the addition to the physical infrastructure, Guest Speaker, Finance Minister Dr Ashni Singh, in his address, said the opening of this branch signals “that Guyanese companies are investing and are expanding.” He also categorically stated that it represents “a very significant investment and will bring to the region three community significant enhancements in the quality of service.”
Dr Singh also commended the company for its inspirational story and for opening the branch in region three.
The West Demerara Branch Office was established in Vreed-en-Hoop to provide ease of access to the people of the West Bank and West Coast of Demerara and East Bank of Essequibo, to GTM.
The office was located on the ground floor of lot 26 Plantain Walk and was officially opened for business December 19, 1994, with a team of three staff members which included Branch Supervisor, Damyantee Singh. The latter is now the supervisor of the new office building at Sub Lot B, 24 Plantain Walk which was purchased for $11.8M.
The company then spent approximately $300,000 to renovate the newly acquired building then GTM’s West Demerara Branch Office relocated there on the October 29, 2003.
In 2005, on the occasion of the company’s 125th Anniversary the GTM Group completed and launched its Vision and Mission Statements.
General Manager Yee told those gathered that tens of millions of dollars were spent on training and development with emphasis on Customer Service and Empowerment, modernization of the Information Systems Infrastructure and renovation of offices to provide a safe, comfortable, modern and user-friendly atmosphere.
The exercise commenced with the Corporate Head Office in Georgetown, followed by offices in Port Mourant, Berbice; St. Georges, Grenada; Kingstown, St. Vincent and the Grenadines; and Castries, St. Lucia.
“This impressive new building is not only a continuation of this exercise and a significant financial investment, but a symbol of GTM’s continued commitment to provide superior service to the people in this Region” Yee assured.
He added that the approximately $52 Million building “is the single largest investment since we commenced our renovation and modernisation exercise in 2006” and it was designed by Architects, Rawle Jordon Associates Inc to provide ample accommodation for Administrative and Sales Teams in addition to a customer-friendly service area. The design of a steel and reinforced concrete bridge provides vehicular access to a spacious parking area.
Construction was done by Raffik and Sons Construction following the demolition of the previous structure and the project was completed and handed over to GTM within the agreed timeframe.
Next stop Lethem
Having completed this project, the company’s General Manager announced on Friday evening that attention will now be turned to Region 9 as the GTM Group has already launched its 16th office in the frontier community of Lethem since October of 2009.
He said “Once we have received a green light from the relevant authorities, we will proceed with the construction of a modern, eco-friendly office building along with a parking area in the newly developed commercial zone. Both building and parking area will utilise approximately 1,444 sq. ft of land space
General Manager Yee expressed the belief that GTM can contribute positively to the continued development of Lethem, the Rupununi and Region Nine by providing employment to persons from that region, sponsorship of events such as the Rupununi Expo and the Lethem Rodeo, sports and training and development through non-profit organisations such as the Red Cross.
Further he said “We will also be constructing a permanent office in the town of Rosignol on the West Bank of the Berbice River having rented an office space in that community for the last sixteen years”.
In the Caribbean Offices, the company is also working to acquire its own office building in St. Vincent in the very near future in addition to a complete renovation of its Castries Office in St. Lucia.
The GTM Group is made up of two Companies. The first is the GTM Fire Insurance Co. Ltd. which first opened its doors in 1880, at a young age of 130 years; the Company is a dominant force on the Guyana, Grenada, St Lucia and St. Vincent markets. The second company, the GTM Life Insurance Co. will be 85 years old this year and has held its own in the four territories that it operates.
Over the years the GTM Group has extended its operations in Guyana from the head office located at Robb & Hincks Streets Georgetown to include branches and sub branches throughout the country. These include offices at Corriverton, Rosignol, Corentyne, New Amsterdam, Bagotstown, Linden, Bartica, Anna Regina, Vreed-en-Hoop and Lethem.
The ceremony was chaired by Harold B. Davis, The Chairman of the Board of Directors of the GTM Group of Insurance Companies. Also among those present were Beverly Harper Member of the Board of Directors – GTM, and Julius Faerber Regional Chairman – West Demerara.
The ribbon was cut by Nadia Sagar, Fire Manager, with assistance from Celine Persaud, a policy holder’s daughter.
(Mondale Smith)

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