State Insurance Company Limited

34 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 12 Cargo, Fidelity Guarantee, and specialty risks. SICL proudly holds the title of the first indigenous insurance company established in the twin-island state and the first to establish a physical presence in Barbuda. The organisation also dedicates itself to giving back to local communities through charitable works and donations, including food drives and community development programs, and with plans to celebrate its 46th Anniversary in January 2023, this powerhouse shows no signs of letting up. Ms. Aarion Nicholas recently assumed the post as CEO, having joined the team as Executive Manager in 2020 with over a decade of industry experience. STATE INSURANCE COMPANY L IMI TED (S I CL ) Ms. Nicholas begins, “State Insurance was created to fill a void and sustain those within our local population who could not afford regular insurance while also used as a vehicle to mitigate against a foreign exchange leakage at that time. The public response and support were overwhelming, with an expressed need for our solutions within the wider local market. Today, we are a privately registered company, principally owned by the government, but one of our strategic objectives is to list on the ECSC within the upcoming years. This would allow local stakeholders and investors to become part of our brand from the drivers seat and experience returns within the economy that we love and in their pockets.”