Kyria Ali has been appointed NAGICO’s first female CEO | THE DAILY HERALD

Kyria Ali

 ~ Ultimate focus to lead NAGICO to success ~

 PHILIPSBURG–NAGICO Insurances now has its first woman at its helm. Almost ten years after joining NAGICO and functioning in several positions, Kyria Ali has been appointed as the Chief Executive Officer (CEO) of NAGICO Holdings Limited, as of July 2023, the first woman to hold the top spot at the company.

Ali succeeds Rudi Spaan who served in the position for one year. Ali is humbled to lead the company as the first woman at the steering wheel. Her ultimate focus is to steer NAGICO to success, foster an inclusive and diverse work environment, and inspire others to break barriers and shatter glass ceilings.

“Insurance has historically been a male dominated field, especially at the executive level, so this accomplishment is major,” Ali told The Daily Herald.

“Being the first female CEO brings about an opportunity to make a positive impact and create a platform for change. I don’t view it as added pressure, but rather a chance to inspire other women to recognise their potential and what they can achieve in leadership positions,” she added.

“Additionally, I see it as an opportunity to help shift the mindset of my male counterparts and be a bridge in breaking down gender barriers. Changing the divide to a plus is essential. I acknowledge that as a woman in a leadership role, there may be generalisations and different standards or labels that I’ll encounter daily. However, rather than seeing these as burdens, I choose to embrace them as opportunities for growth and to challenge existing stereotypes.”

Longevity

Ali joined NAGICO Group in January 2014 as its Chief Risk Officer responsible for the governance, risk management and compliance (GRC) function. She also served as Director of some of its legal entities. NAGICO was no stranger to Ali when she joined the company as it was a prominent insurance company in the British Virgin Islands, where she resided prior to moving to St. Maarten, and it was also one of her clients.

Shortly after joining the group, she was entrusted with leading and managing the group’s Mergers and Acquisition function and handling the relationship with AM Best, the global credit rating agency used by the insurance industry. In July 2017, just before the passage of Hurricanes Irma and Maria, she took up the Strategy and Business Development mantle to lead the group through a growth phase and during this five-year period, Ali said NAGICO saw its gross written premiums increase by in excess of US $50 million (35%).

Embedded in this strategy and development role was also Marketing and Communications which she said allowed her the opportunity to engage her creative side. In November 2020, she was asked to lead the group for an interim period. “And over the 1.5 years that I did so, all aspects of the business were addressed and despite operating in a pandemic and a hard market, the group’s equity value increased by US $3 million (4%),” she said.

“Each role that I executed at NAGICO to date has been rewarding and fulfilling. I believe that growth lies beyond comfort zones and that each obstacle is an opportunity to learn and improve further. I have been able to add value, build relationships and learn along the way. I discovered that a successful career is not solely built on technical prowess, but on the ability to connect, collaborate, and uplift others along the way,” she said.

Asked what she brings to the table, Ali said, being born and raised in the Caribbean, she possesses a deep understanding of the region’s specific challenges and opportunities, particularly concerning the ever-present risk of hurricanes, earthquakes, and volcanic activity. “I bring to this role a genuine passion, a wealth of qualifications and experience and a proven track record, and there will be a seamless transition for the NAGICO group. I also bring a female’s touch and perspective to leadership and decision making. More diversity and inclusivity, recognizing that true strength lies in the wealth of perspectives and experiences that women also bring to the table,” she said.

Plans

Ali said the strategic plans for NAGICO center around ensuring that the company remains people centric and purpose driven. She said NAGICO’s plans extend beyond those that directly improve its balance sheet, adding that this goes to the heart of the company’s people-centric philosophy. Community service remains high on the company’s agenda. “Our initiatives will all be focused on ensuring that we consider our stakeholders, customers, staff, regulators and shareholders’ needs and wants, and that we fulfill our purpose which ultimately is to provide peace of mind, financial protection and facilitate economic growth,” she said.

“NAGICO is known primarily for its property and motor products, however, we also have an impressive suite of life and pension products available. Products that aid with financial planning and saving. On our agenda are educational initiatives aimed at equipping individuals with the knowledge and tools necessary to make informed investment decisions for retirement. Through personalised guidance and expert advice, we will strive to demystify the complexities of retirement planning, helping clients create tailored strategies that align with their unique goals and aspirations. By fostering a culture of financial literacy and long-term thinking, it is our objective to empower individuals to embark on their retirement journey with clarity, ensuring a secure and fulfilling life after their working years.”

As it relates to digitalization, she said this is an integral part of NAGICO’s strategic plan. The company has already begun its journey towards digital transformation. “The onset of the pandemic accelerated our efforts, leading us to implement various online platforms that allow our clients to interact and transact with us seamlessly. From requesting quotes to notifying us of claims and processing renewals, our digital infrastructure has significantly improved customer experience and accessibility. However, we understand that not all our clients are fully comfortable with remote interactions, so we are taking a balanced approach, ensuring that we cater to both digital-savvy customers and those who prefer traditional methods,” she said.

“Moreover, as we embrace digitalization, we also prioritize our commitment to Environmental, Social, and Governance (ESG) principles. This includes reducing unnecessary printing and promoting sustainable practices throughout our operations.”

Ali is humbled by the opportunity given and plans to give it her all.

Source: The Daily Herald https://www.thedailyherald.sx/islands/kyria-ali-has-been-appointed-nagico-s-first-female-ceo

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