On Wednesday, May 10, the Insurance Industry CEOs turned out in their numbers at a function held at the Courtleigh Hotel to pay tribute to Richard Byles, who they credited with leading the way to the restoration of the prestige and financial viability of the Life Insurance sector in Jamaica after the financial meltdown of the 1990’s.
IAJ’s President, Eric Hosin who paid tribute to his former arch-rival said “The life Insurance industry is once more seen as one of the pillars of the Financial Sector and indeed Jamaica’s Economic Infrastructure, providing protection, and peace of mind to the insuring public, along with wealth creation, investment and development for the Jamaican economy.
Mr Byles leadership was described as decisive, creative and enterprising. He was also lauded for the example he set in Corporate Social Responsibility, as despite his focus on achieving impressive financial results for his company he found the time to ensure that his company gave back to its policyholders and to the country. His efforts in leading major events such as the Sagicor Sigma Run and his steady Co- Chairmanship of the EPOC Committee has set the pace for other business leaders to follow.
The IAJ also acknowledged the role that Mr Byles wife Jacinth played in his success, Mr Hosin noted that the job of a CEO was a tough one and after a challenging day at work it was important to be able go home to the solace of a supportive partner. In closing he noted Mr Byles’ gallant fight in lobbying against the Government’s decision to impose taxation on Group Health Insurance Premiums recently. He said although we lost the battle Mr Byles who has served as Vice President- Life for the IAJ could always counted on for counsel and insight and supporting the industry’s efforts to influence policy in favour of the insuring public.
Mr Hosin said he was happy that the industry would still have access to Mr Byles as he has now moved to the position of Chairman of the Sagicor Jamaica Group.
