The Demerara Mutual Life Assurance Society Limited yesterday held its 119th Annual General Meeting on the tarmac of the Society’s 61/62 Avenue of the Republic and Robb Street offices, although it was marred by a loud mob of policyholders seeking entrance into the meeting. At the AGM, the Society’s Chairman of the Board, Richard B. Fields, reviewed the company’s performance over the last year, received reports from directors and reviewed the financial accounts of the company in presentations to policyholders.

Ranks of the Guyana Police Force kept a watchful eye on the Robb Street gate to the company, as an angry crowd demanding access into the meeting became increasingly loud.
In his report, Fields reviewed the past 12 months which have been challenging for many Caribbean countries and the rest of the world, as they faced the continuing global financial crisis.

Despite this, he stated that there are several financial and operational achievements to be proud of, which he highlighted. Among these were that the company was recognized as the first in the industry in Annual Production Income at 33 percent of the market; the company is the second in terms of new lives insured at 26 percent of the market; the company increased its Sum Assured by 16.1 percent and actual Premium Income by 10.9 percent.

The company also presented its Annual Sales Awards to top producers and service awards to employees.

Members of the Board of Directors of Demerara Mutual, management and staff from the regional offices in Grenada, St. Vincent and the Grenadines and St. Lucia attended the meeting, along with their Guyanese counterparts and policyholders.

The Demerara Mutual Life Assurance Society Limited was founded in 1891 and is the first locally owned Life Assurance Company to be established in British Guiana. Today, the Company has expanded into a stable and viable Caribbean financial institution, providing a range of insurance services in Guyana, Grenada, St. Lucia and St. Vincent & the Grenadines.