Newly Formed Aboriginal Insurance Brokerage Enters Market
Yellowknife, September 23 – Darrell Beaulieu, President and CEO of Denendeh Investments Inc. (DII) and Alexis Harke, Managing Director Jardine Lloyd Thompson Canada Inc. JLT have reached a Memorandum of Understanding to develop an Aboriginal market presence and sales base in the NWT through the creation of a DII owned Insurance Broker. As part of the agreement, the newly formed company will become a shareholder of New Sky Risk Management and Insurance Solutions Inc. (New Sky).New Sky is an Aboriginal owned Managing General Agency, 90% owned by Aboriginals and 10% owned by JLT. It was created to provide customized insurance products and programs including risk management solutions to First Nations, Inuit and Métis through a network of Aboriginal insurance brokers across Canada. New Sky is teamed with the country’s top insurance carriers to offer general insurance products to all Canadians while also offering unique insurance products.
In an enouncement during the 2009 NWT Aboriginal Business Conference, Mr. Beaulieu said the initiative is a great business opportunity for the DII and provides additional benefits to Aboriginal governments and municipalities. “We are pleased to be associated with JLT, one of the worlds largest insurance brokerage firms. We look forward to working with them and the other Aboriginal shareholders of New Sky.”
With the assistance of JLT the new insurance brokerage will be established in Yellowknife and will begin operations in about 30 days.
Alexis Harke said that JLT considers New Sky is a “quality investment” because of the Aboriginal community is the fastest growing demographic group in Canada and will have constant and growing insurance needs. “Our objectives include capacity building, skill and knowledge transfer and understanding in areas such as risk management and the creation and protection of wealth administration management.”
New Sky will offer a wide range of coverage, including Community Government Infrastructure Insurance. Economic Development Insurance; Bonding; Employee Group Insurance and Personnel Insurance.
For more information call:
President & CEO
Denendeh Investments Inc.
Jardine Lloyd Thompson Canada Inc. (JLT)