OURS IS A CULTURE BORN OF INNOVATION

Finding the best possible solutions, striving to be the best versions of ourselves and being in service to others... this is what makes us strong.

COLFIRE’s STORY BEGINS MORE THAN 60 YEARS AGO...
 

Colonial Fire Insurance Company Limited was built upon the principle of service to others by finding the best way to support them. This was the vision of founder Cyril Lucius Duprey. His mission was to bring together a team of professionals who could add value to the people of Trinidad & Tobago.

Mr. Duprey’s dream began to take shape in 1955 when Colonial Fire Insurance Company Limited was incorporated. Three years later the Company opened its doors in the heart of the capital city. Its operations in Port of Spain were small but mighty as it boasted a team of highly trained and skilled Underwriters. They made it their duty to find the best ways to bring a higher level of service by responding to customers’ ever-growing needs. This would ultimately lead to an expansion of the Company’s General Insurance portfolio to include coverage for Property, Motor, Liability and Marine assets.

This became the catalyst for Colonial Fire Insurance Company Limited’s change of name back in 1968. The Company would from that moment forward be known as COLFIRE.

From those early years to now we at COLFIRE continue to recognise that PEOPLE are at the centre of all that we do. From technology to product design, it is the need to bring an evolved level of service to customers that drives us. There is no cookie cutter approach to our interactions. We see each person as an individual with very singular needs. This philosophy is one that is shared across the organisation, because at COLFIRE we know what keeps us strong is team. Each member of our team is invaluable. Together we are capable of manifesting greatness.

TOGETHER WE ACHIEVE SUCCESS!

CariCRIS Rating
CariCRIS reaffirms COLFIRE “good creditworthiness” credit ratings to COLFIRE

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COLFIRE HAS DONE IT AGAIN!

For the fifth (5th) consecutive year, CariCRIS has reaffirmed COLFIRE’s solid creditworthiness by once again awarding COLFIRE with both CariA and ttA ratings. The strong Corporate Credit Rating of CariA (Foreign and Local Currency Ratings) was on the regional scale; while the similarly very healthy ttA rating was awarded on the Trinidad and Tobago (T&T) national scale.

CariCRIS the Caribbean's leading credit rating agency, also assigned a Financial Strength rating of CariA, indicating that COLFIRE’s relative ability to meet all its ongoing insurance obligations is good. This is a feather in the cap for COLFIRE, which continues to build on its strengths despite the country’s challenging economic situation, with constrained access to foreign exchange. This rating also puts it ahead of some of its major local competitors.

In awarding the rating, CariCRIS pointed to COLFIRE’s history of solid financial performance and profitable underwriting operations. The outlook for the company is stable, attributed in part to its healthy liquidity position underpinned by the good credit quality of its financial assets. COLFIRE’s comfortable capitalisation is reflected in its satisfactory coverage of total assets as well as a healthy capital adequacy ratio, despite a high-risk retention ratio. This latter facet is an industry norm.

CariCRIS noted that COLFIRE has a wide distribution network. Headquartered in Port of Spain, the company’s branches serve the major hubs of San Fernando, Chaguanas, Piarco and Tobago. Additionally, the firm’s strong governance and stable leadership, as well as its investment in information systems and risk management policies, have contributed positively to this A rating.

COLFIRE CariCRIS rating 2021 - Download

A LOOK AT OUR FINANCIALS

COLFIRE Financial Statements 2022 (Consolidated and Separate) Download

The accompanying report of EY is for the sole and exclusive use of the Company. Any redistribution made by the Company is to be 100% full, complete and unaltered in any way.

Further, as of the report date EY has not carried out any procedure, of any nature, subsequent to the date the report as presented by EY.

 
Timeline
MEET OUR TEAM 

At COLFIRE we define success as – customer satisfaction achieved through first-class service delivered
by an exceptional team of professionals.


Timeline

 

BOARD OF DIRECTORS

Chairman
Ray Sumairsingh

Director/Chief Organisation Officer
Ashraff Ali

Director
Terrence Bharath

Director
M. Musa Ibrahim

Director
Larry Howai

Director
Laurence Chin Chuck

 

MANAGEMENT TEAM

 



Director/Chief Organisation Officer
Ashraff Ali

Corporate Secretary
Vaneeta Bissoondatt

Head of Commercial and Technical Operations
Dennis Benisar

Head of Claims
Neil Mohammed

Manager Finance
Jason Fifi



Manager Direct Business
Cindy Emamdie

Manager Broker Services
Dianne Marhue

Manager Agencies
Leah Gordon

Manager Marketing
Mitra L. Ramjit

Manager Regulatory Affairs
Christian Ali

 



Manager Internal Audit
Gregory Romany

Manager Business Intelligence
Daniel Koo

Manager Human Resources
Rhonda Oblington-Joseph

Manager Customer Experience
Pepeeta Ameerali
 

COLFIRE HAS IT COVERED

Our pledge is to provide our customers with exceptional products and extraordinary service through our:

- 5 branches
- 17 online Agency locations and
- the largest General Insurance Agent sales force.

OUR MISSION - “COLFIRE COVERS”


We are committed to achieving our mission by, focusing on responsible, consistent and aggressive levels of profitable growth to become the market leader in terms of gross premium.

This will be achieved through:

Our Underwriting and Claims expertise delivering on Customer Satisfaction, Service Excellence and Claims Management.

Prudent management of our expenses contributing to significant returns for all our stakeholders.

Diligently and proactively assessing the market, we will continuously review and re-engineer our products and business processes to exceed the expectations of our stakeholders.

Our priority will be innovation; new ideas will be refined and implemented by leveraging our technological and human capital to ensure COLFIRE’s competitive advantage.

Leading the market in customer satisfaction through inspiring, educating and providing value-added solutions to our customers.

Fostering a culture of creativity and collaboration that inspires excellence.

Our team of skilled professionals will focus on maximising their potential which will generate results that exceed our targets.
 

OUR VISION - TO BE “THE INSURER OF CHOICE”

As “The Insurer of Choice” we will establish, build and maintain relationships ensuring all interactions with COLFIRE exceed expectations. COLFIRE as the most identifiable and desirable brand ensures the continuity of our growth and profitability, the achievement of which is our collective responsibility.

We operate in teams where we expect and reward high performance. We will continue to employ and retain talented individuals who maximise their potential in a culture of trust, teamwork, respect and empowerment. We encourage personal development and passion for service while enjoying what we do.

We will maximise our competitive advantage by leading the industry in innovative product offerings, business processes and enabling technologies. Continuous business improvement through employee engagement will enable us to efficiently provide value to customers in real time and facilitate improvements in the overall customer experience.
 

OUR VALUES

As a Company and a people, we are committed to our Core Values of:

Integrity: Behaviours consistent with moral and ethical principles.

Results Orientation: To consistently achieve goals and performance standards by the effective and efficient use of available resources.

Customer Focus: To achieve customer satisfaction by meeting or exceeding internal and external customer expectations.

Teamwork: Work cooperatively and constructively with others as part of a team towards our shared vision as Team COLFIRE.