The Gamstar insurance company saw life on August 1st of 1991 and had a gradual climb up the ladder of success to eventually become a trustworthy, household name in The Gambia, with their niche specifically loud in areas of aviation, engineering, and Machinery breakdown. Their 2007 strategic alliance with Industrial and General Insurance Plc (IGI) residing in Nigeria built a subtle path to how reputable they have grown to become.
Being that the insurance industry is wildly controlled by the Central Bank of the Gambia, Gamstar’s growth to such a monstrous level of capability remains undoubted as the Central Bank’s knowledge that insurance establishments cover certain significant assets and companies push them to be feral enough to ensure that every budding and already sprouted insurance center possesses the financial muscle to adhere to its purpose and claims.
Tayo Olowude, the managing director of Gamstar, praised the reputation of his corporation, recalling other instances where NAWEC was insured by them.
“In 2015 we paid a sum of 71,795 Euros as an insurance claim following a machinery breakdown, and similarly in 2018, we gave out 43,257,155.33 Dalasis, the largest claim in the history of the industry following another machinery breakdown at their Brikama Power Plant,” Olowude recalled.
He rebuts assumptions that paid claims are a myth; and assured that his company is true to its word.
“When a client with a genuine claim calls at 2 a.m. having suffered from a fire, I will be the first one at the scene with his payout,” he claimed.
Sainabou Jallow Gaye, who has been a broker for NAWEC, providing them with insurance-soaked technical advice for over 25 years, advised individuals who wish to insure with a reputable company to get in contact with a qualified broker to snag a good policy.
Molifa Sanneh, the secretary general of the insurance industry, shared similar concerns and with gratitude thanked IGI Gamstar for honouring their obligation.
“This kind of presentation will allow people to have confidence in the insurance industry. So thank you so much Gamstar and NAWEC for the support given.”
“We are appreciative of partners like yourself who can be relied on when it comes to claims as this nature,” NAWEC’s Managing Director Nani Juwara said.
“As we speak, NAWEC with the support of the government is investing over 240 million Dollars to make sure that we upgrade and modernise our network,” he revealed.
He thus thanks Gamstar, saying the newly received claim will bring about the desired change.
Gamstar on the same day awarded a second insurance payout of US$7,000 to Royal Enterprise as they recently suffered from a burglary where many valuables were lost.
