The two partners of PIL Mr Bruce Wong and Mr Herman Creque. Photo: VINO

Bruce Wong, Premier Dr the Hon D. Orlando Smith and Mr Herman Creque. Photo: VINO

Some of the persons in attendance. Photo: VINO

Wong addressing the gathering. Photo: VINO

Premier Dr the Hon D. Orlando Smith addressing the audience. Photo: VINO

At a simple yet impressive launch ceremony which was held at the Moorings Premier Dr the Hon D. Orlando Smith lauded the initiative as one of the important features of the company is that monies will not be leaving the VI to go to insurers offshore.

He also alluded to the fact that the VI spends some $50ml annually in the USVI and Puerto Rico. “If we were to keep some of that in the BVI we would have stimulated the economy and that is what I think Bruce and Mr Creque are doing partly in their venture.”

The Premier also lauded the fact that based on the structure of the new company it allows for persons who are being employed becoming shareholders.

“Government is trying in many ways to stimulate the economy of the Virgin Islands and to stimulate people to get into business development particularly into more innovative businesses where they can bring more capital and foreign exchange into the British Virgin Islands,” Premier Smith said.

The saying that a blood deep entrepreneur never retires can be truly said of Mr Bruce Wong and this was to some extent alluded to by Premier Smith. “When I heard that Bruce was going to retire I had two thoughts. The first is that he has made enough money in the automotive industry so he can go and put his feet up but my second thought was he is retiring too young and I expected that he would be back in business pretty soon.”

Chief in the new business Mr Bruce Wong with his closest partner being Mr Herman Creque said that the VI’s ability to continue to expand and mature even during challenging periods is evidenced by the longevity and management of the territory’s financial services sector and responsiveness of the stakeholders.

“There are many layers to our financial services industry, and PIL is poised to play a pivotal role on the domestic front and ultimately globally,” said Mr Wong.

He described Premier Insurance Ltd is a unique, highly diversified entrepreneurial enterprise, known for its unmatched level of excellence, which is poised to adapt to domestic and global changes and that it is vested in the growth of its clientele and building a culture of responsive ownership that continues to separate them from the pack.

“Every client with a policy in excess of US$500.00 will receive one non-voting share in Premier Insurance Ltd. after a three-year period. When you hear the term “principle of reciprocity”, no truer words have been spoken as suggested by the relationship between PIL and its stakeholders. Quality is our best assurance of customer allegiance, which will be our strongest defense against competition and the only path to sustained growth in earnings,” said Mr Wong.

According to Mr Wong the DNA and the very fabric of PIL’s business model required a more invested approach to insurance to ensure that the people who become policyholders and ultimately shareholders recognized the required shift in culture.

“The simplicity of it can be found in the way that PIL has been structured in supporting its clients and investing in value-added services that matter to them. PIL is committed to always assessing our performance, re-inventing where required and adapting to move forward.”

Starting today July 16, 2015 persons are invited to join PIL and their office is located in the Chevelle Centre opposite the Sunday Morning Well.