Company profile: Nemwil

NEM (West Indies) Insurance, known as Nemwil, is the largest indigenous general insurer in the Caribbean. It saw its pretax profits rise by 60% to TT$44mn (US$7mn) in 2000. A significant proportion of last year’s profit derived from Nemwil’s share of profit from its 25% shareholding in QualSure Holding Corporation, which underwrites property windstorm risks in Florida and commenced trading early in 2000. Excluding the QualSure contribution, Nemwil’s pretax profit was up by 10.5% to $30mn.