The Best Insurance Money Can Buy!

General Information

Sun General Insurance Inc. sells All Categories of General Insurance.

Mission Statement

We always want to be the choice of our customers for innovative insurance and related services and to provide the best value package within an environment that is friendly, safe, reliable and caring.

Company History

The company was formed October 22, 1987, with the purpose of acquiring and developing the general insurance portfolio in Barbados and the Eastern Caribbean. The company originally traded under the name CLICO International General Insurance Limited. until February 2012 when it was purchased by Sandridge Ltd. a company owned by businessman Bernard Weatherhead and the name was changed to Sun General Insurance Inc.

The company trades in Anguilla, Antigua & Barbuda, Barbados, Grenada, St. Lucia, St. Vincent & The Grenadines.

Products & Services

The company offers one of the most comprehensive ranges of general insurance products to be found in the Eastern Caribbean.  Our package of over forty eight (48) different plans give consumers the most liberal options in protecting life & limb, property and other assets. We extend our coverage beyond the personal into Employment, and Transportation Insurance thus making attractive packages available to the small and large consumers.  This diversity makes our company an attractive option for a variety of consumers.

  • Property
  • Motor Insurance
  • Miscellaneous Accident / Liability
  • Financial Risk
  • Credit Risk
  • Liquidity Risk
  • Foreign Exchange Risk
  • Interest Rate Risk
  • Price Risk
  • Fair Value Risk
  • Contractors
  • Money Insurance
  • Fidelity
  • Bonds - Bid performance

Other Classes include:
Accident & Sickness Insurance • Marine, Aviation & Transit Insurance • Travel Insurance • All Risk on Valuables • All Risk on Computers & Equipment • Contractors All Risk & Plant • Advanced Payments • Machinery & Equipment • Tour Operator’s and Travel Agent’s Bonds.

Underwriting Strategy

The Company’s underwriting philosophy is driven by product and geographical diversity, adequacy of premium income and the generation of underwriting profits in each business class. Significant concentrations of insurance risk reside in Barbados, Anguilla, Antigua, Grenada, St. Lucia and St. Vincent.

Each business unit is governed by procedures that detail the Company's underwriting philosophy.  Underwriting limits are as agreed under the terms of the Company's reinsurance treaties.  Premium rates are reviewed to ensure they are commensurate with reinsurance costs, loss ratios, and market trends.  Management retains the overall responsibility for rates in the Company.

The Company measures its insurance risks through risk surveys, assessing exposures to loss, monitoring loss ratios, evaluating competitors and the use of statistical analysis.  Every policy is re-underwritten at renewal. Loss exposures are taken into account.

The Company supports associations and uses different methods to gather intelligence on the market and customer satisfaction.

 Reinsurance Strategy

Our reinsurance programme has always been placed by Willis Re, currently the third largest reinsurance broker in the world. The reinsurance programme is supported by major companies. All reinsurers used by the company are A rated.

There are treaties in place on Property, Motor & Casualty, Marine, Engineering as well as for natural catastrophes such as hurricanes, floods, earthquakes, tsunami and volcanic eruption.

Major Reinsurers Include

  • Munich Re
  • Swiss Re
  •  Lloyds
  •  Faraday Re
  •  Everest Re
  •  R&V