Company Overview
General Information
RoyalStar Assurance Ltd. (RSA) is incorporated under the Companies Act, 1992 of the Commonwealth of The Bahamas and is licensed to operate as a property and casualty insurance company in The Bahamas, The Cayman Islands, The Turks and Caicos Islands, The British Virgin Islands, Anguilla and The U.S. Virgin Islands. The Company currently has an A.M. Best Financial Strength rating of A (Excellent) with a stable outlook.
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Recognized as a financial market leader, the Company offers a full range of general insurance products, including Property, Marine, Liability, and Motor; through a network of agents and brokers in the territories in which the Company is licensed to operate.
With a dedicated team, we are committed to the ongoing training of our employees and agents, to enable and empower them to provide superior performance to every customer. One of our fundamental beliefs is the creation of a working environment that is conducive to everyone working together as a team.
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History
RSA is part of a storied history that dates back to the formation of the Sun Fire Office in England in 1708, which later became the Sun Insurance Office on the 7th April 1710. This is believed to be the earliest known insurance company incorporated worldwide.
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The Royal & Sun Alliance International Group’s history in The Bahamas can be traced to 1805 when the Phoenix Insurance Company appointed Bain & Webster as its agent. The Group’s initial connections in The Bahamas began in Freeport, Grand Bahama, and date back to the signing of the Hawksbill Creek Agreement in 1955 by The Grand Bahama Port Authority (GBPA). One of the first ventures of the newly formed GBPA was to build a fuel bunkering facility, but at that time, there was no one to insure it. Through connections with some prominent investors, the Alliance Insurance Company agreed to provide the insurance that enabled construction to commence and the GBPA was appointed as the General Agents. It is therefore fitting that the GBPA remains connected to the present local Company as a shareholder.
In 1982, the Sun Alliance Group incorporated Sun Alliance Insurance (Bahamas) Ltd. and in 1991 invited two local investors to become shareholders in the local Company. In 1998, after the international merger with the Royal Insurance Company, the local Company’s name was changed to Royal & Sun Alliance Insurance (Bahamas) Ltd. and all local shares were repurchased by the Royal & Sun Alliance International Group Company.
During 2001, the Royal & Sun Alliance International Group decided to exit The Bahamas and the Caribbean region. The local Bahamian Company was purchased by shareholders, including Sunshine Insurance, Star General Insurance, British American Financial, the Grand Bahama Port Authority and the Guardian Group located in Trinidad. Despite paying substantial claims following Hurricanes Ivan in the Cayman Islands, and Frances, Jeanne, Wilma, Matthew and Dorian in The Bahamas, the Company has managed to maintain shareholder’s equity in excess of $50 million.
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Philosophy
RSA has a reputation for excellence in risk management, technical expertise in underwriting and fair claim settlement. The Company has a strong focus on customer service and is committed to good corporate citizenship. We have developed long term partnerships with various charitable organizations, especially those involved in protecting the environment, youth development and caring for the more vulnerable citizens of our society.
Our Leadership
Board of Directors
The Company’s Board comprises seven members and three alternate members, all of whom are senior executives in their respective professions, providing vast experience highly relevant to the Company.
RSA’s Board of Directors and Officers are as follows:
Sir Franklyn R. Wilson, KCMG
Chairman of the Board of Directors
Non-Executive
Sir Franklyn R. Wilson, KCMG was elected to the Board of Directors of RoyalStar Assurance Ltd. in 2002 READ MORE >
James M. Pinder, J.P., C.B.E.
Deputy Chairman of the Board of Directors
Non-Executive
James Pinder, J.P., C.B.E., was elected to
the Board of Directors of RoyalStar Assurance Ltd. in 2002 READ MORE >
Anton A. Saunders, CPA, CMA, CGMA
Director, Executive
President & CEO
Anton A. Saunders was elected to the boardREAD MORE >
Dean Romany
Director, Non-Executive
Ian Rolle
Director, Non-Executive
Barry Malcolm
Director, Non-Executive
Julian Rolle
Director, Non-Executive
Corporate Information
Head Office
RoyalStar House
John F. Kennedy Drive
P.O. Box N 4391
Nassau, The Bahamas
T 242 328 7888
F 242 325 3151
E info@royalalliance.bs
Auditors
PricewaterhouseCoopers Bahamas
2 Bayside Executive Park
West Bay Street & Blake Road
P.O. Box N 3910
Nassau, The Bahamas
T 242 302 5300
F 242 302 5350
Registered Office
McKinney Bancroft & Hughes
Mareva House
4 George Street
P.O. Box N 3937
Nassau, The Bahamas
T 242 322 4195
F 242 328 2520
Freeport Office
Star General Insurance Building
2B The Mall
P.O. Box F 42673
Freeport, Grand Bahama
The Bahamas
T 242 350 7804
E info@royalalliance.bs
Value Added Tax
Identification Number
TIN 100350942
RSA Videos
Financial Statements
RSA News
Alternate Directors
Kyron Strachan
Herbert Thompson
Shelley Sylvester
Secretaries to the Board
Franon Wilson
Secretary
Shelley Moree
Assistant Secretary
Executive Management
Anton A. Saunders
President & CEO
Tanya M. Bevans
Treasurer, Finance and Information Technology
Reginald D. Munroe
Underwriting & Reinsurance
Laneka Logan-Moss
Acting Claims Manager
Extended Management
Erica Reckley
Risk & Compliance Manager
Lawrence Knowles
Business Technology Manager
Shelley Moree
Administration