‘We did not copy Nagico’s car sale’ – CIL’s Simone T. Monsanto
Speculation was rife by persons and on social media that the car sale was in direct response to the onslaught of media attention which centred on new car dealer Tortola Auto Group, now the official distributors of Hyundai vehicles of South Korea.
It was felt that Caribbean Insurers Limited (CIL), one of the territory’s leading insurance companies, sought to compete head on with another of the Virgin Islands’ leading insurance providers, Nagico Insurances which had partnered with Scotiabank to offer attractive deals.
However Monsanto said that the timing of the car sale is simply coincidental, as the event was in the planning stages for a long time but for a number of reasons was not executed until last Saturday.
“I had been behind Banco Popular for a long time to do a car sale because they haven’t done one in many, many years,” said Monsanto.
“It happened that I was travelling for almost a month now so the only date that was available was today’s date,” she said.
“It had nothing to do with the car sale last week, nothing at all,” she said.
Observers have noted that the two leading insurance providers seem to be in competition with each other with regards to sponsorship of events and making themselves visible with regards to a number of various causes in the territory, from sports to social programmes to community outreach among others.
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