分类： business

The Pan-American Life Insurance Group (PALIG), a leading provider of life, accident, and health insurance across the Americas, has named Winston S Williams as its new CEO for the Caribbean region, effective November 1. Williams, a seasoned insurance professional with over 40 years of experience, takes over from Youil Homsi, who significantly enhanced PALIG’s Caribbean operations during his tenure. Williams’ extensive background includes leadership roles at Sagicor Life Inc, Colonial Life Insurance Company Ltd, and Caribbean Atlantic Life Insurance Company Ltd. As the former agency manager of PALIG’s Port of Spain and San Fernando offices, he achieved 12 consecutive years of growth, fostering robust relationships with producers and customers. José S Suquet, PALIG’s chairman and CEO, highlighted Williams’ deep market understanding and strong client relationships as key factors in his appointment. Dan Costello, PALIG’s executive vice president for international markets, emphasized that Williams’ leadership marks a pivotal step in the group’s Caribbean expansion strategy. Following regulatory approvals in Trinidad and Tobago, Williams will also serve as CEO of Pan-American Life Insurance Company of TT Ltd. In his new role, Williams aims to focus on culture, collaboration, and performance, driving innovation and strengthening risk protections to deliver exceptional value to customers.

The West Indian Tobacco Company Ltd (Witco) has reported a significant decline in its financial performance for the nine months ending September 30. The company’s profit before tax plummeted by 46% to $82.9 million, a stark drop from the $153 million recorded in the same period last year. Similarly, profit after tax fell to $66.9 million, down $47.7 million from 2024. Revenue also saw a 13% year-on-year decrease, dropping to $332 million from $382.9 million in the previous year. Witco attributed these declines to shifting consumer preferences towards lower-priced products and the persistent impact of illicit trade. Chairman Ingrid Lashley highlighted the company’s strategic adjustments, including the reintroduction of Du Maurier and the refresh of Rothman’s Classics, which have shown positive market responses. Despite these efforts, operating profit for the period stood at $81.4 million, compared to $150.6 million the year before. The company also announced an interim dividend of ten cents per ordinary share, payable on November 28. Lashley emphasized Witco’s commitment to long-term shareholder value, focusing on agility, cost discipline, and brand portfolio strengthening. However, the company continues to face challenges from illicit trade and macroeconomic pressures, with earnings per share dropping to $0.27 from $0.43 in 2024. Additionally, recent government measures imposing higher excise duties on tobacco products may further impact the company’s financial outlook.

NH International (Caribbean) Ltd (NH), a prominent local contractor, is taking a proactive stance against an escalating fraud threat targeting merchants during the high-volume Christmas season. The company has developed comprehensive fraud prevention guidelines and is collaborating with the TT Chamber of Industry and Commerce and regional chambers to disseminate these materials widely. This initiative follows NH’s identification of a sophisticated impersonation scheme where criminals forged NH documents and counterfeit cheques to defraud businesses. In October 2025 alone, a merchant lost TT$377,000 in one such incident. While NH itself has not suffered financial losses, the company views protecting the broader business community as a corporate responsibility, especially during the peak fraud period from October to December. Emile Elias, NH’s executive chairman, emphasized the urgency of the situation, stating, ‘This isn’t about legal obligation—NH is the victim of identity theft. But when our name is being weaponized against fellow businesses, silence isn’t an option.’ The fraud scheme has evolved beyond counterfeit cheques, with criminals now depositing fraudulent instruments directly into merchant accounts, creating false confidence that payments have cleared. By the time banks detect the fraud—typically within three to five business days—goods have been collected, and perpetrators have vanished. NH’s security manager, Antonio Ventour, highlighted the critical timing of the initiative, noting that merchants handling peak holiday volumes face compressed decision windows, which fraudsters exploit. The company’s Fraud Alert Reference Sheet provides specific protocols for businesses to protect themselves without slowing legitimate operations. Key measures include contacting NH’s main line to verify transactions directly with the procurement manager and never releasing goods until payments fully clear—even for manager’s cheques, which can be counterfeit despite their authentic appearance. NH is also coordinating with law enforcement and urging businesses to report suspected fraud immediately to the Fraud Squad while preserving all documentation. The company’s Fraud Alert Guidelines are available through NH’s main office and will be distributed via chamber networks as partnerships are confirmed. ‘This affects our entire commercial ecosystem,’ Elias said. ‘We’re choosing transparency and collective protection. The Christmas season should be about legitimate commerce thriving, not merchants getting victimized.’