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  • First Insurance Company in Publishing an Audited Annual Report | Alternative Insurance Compagnie | AIC
    financial platform and a disciplined transparency CEO Mr Olivier Barrau said A clear sign of AIC stable performance is that as per solvency 1 standards an internationally solvency guideline which measure the financial capacity of an insurance company to pay its potential claims were at a level in excess of 3 times the regulatory capital requirements As a result of this financial discipline AIC has been able to pay for the last 10 years claims in excess of HTG 1 573 billion which includes over HTG 720 million in losses resulting from the January 2010 earthquake alone It is also a fact that the insurance industry has become a key player for the Haitian economy For 2011 2012 AIC represented 64 of the taxes paid by private insurance companies and 31 of the combined private and public insurance sectors source 100 biggest tax payers of Direction Generale des Impots AICs results also reflect its contribution to the sustainable social development of Haiti In its life health Protecta and microinsurance portfolios AIC counts 67 000 low income clients of which 44 are women For the case of Protecta and microinsurance portfolios 36 of the clients are located outside the Départment de l Ouest An open book But for AIC presenting the numbers is not enough We are in a business where people need to deeply feel that their insurer is reliable transparent and understands their needs Customers need to understand what they are buying and it is our obligation as an insurance company to educate them said Mr Barrau The 2012 Annual Report includes a chapter called An introduction to insurance financials to explain how insurance works how the company operates and how to read its financial statements It also includes a glossary of frequently used terms in the insurance industry

    Original URL path: http://www.aic.ht/content/first-iinsurance-company-in-publishing-an-audited-annual-report/ (2016-01-31)
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  • 29 | May | 2013 | Alternative Insurance Compagnie | AIC
    Annual Report PDF 2014 Annual Report eBook Insurance Summit PDF Daily Archives May 29 2013 First Insurance Company in Publishing an Audited Annual Report Posted on May 29 2013 by aic Among the most stable and best capitalized insurance companies in Haiti Port au Prince Haïti May 2 2013 Alternative Insurance Company AIC announced today its first annual report which is Continue reading Posted in News Room Comments Off Our

    Original URL path: http://www.aic.ht/content/2013/05/29/ (2016-01-31)
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  • FACT SHEET 2012 ANNUAL REPORT | Alternative Insurance Compagnie | AIC
    491 442 billion all portfolios combined since 2001 Provides insurance coverage for over 102 000 clients Manages its financial statements according to International Financial Reporting Standards IFRS accounting standards Performs full financial audits of its financial statements for over 5 years As per solvency 1 standards AIC s solvency ratios were at a level in excess of 3 times the regulatory capital requirements Has been able to pay for the last 10 years of claims to cover losses in excess of HTG 1 573 billion which includes over HTG 720 million in losses resulting from the January 2010 earthquake alone For 2012 AIC combined ratio was of 73 The percentage of claims that AIC has paid over last 3 years is 100 The growth of AIC in each of last 2 years is 35 For 2011 2012 AIC represented 64 of the taxes paid by private insurance companies and 31 of the combined private and public insurance sectors source 100 biggest tax payers of Direction Generale des Impots Its portfolio is 28 life and 72 non life products Life Health Protecta and Microinsurance portfolios include 67 000 low income clients of which 44 are women 36 of Protecta and Microinsurance

    Original URL path: http://www.aic.ht/content/fact-sheet-2012-annual-report/ (2016-01-31)
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  • 17 | May | 2013 | Alternative Insurance Compagnie | AIC
    a multiline insurance company and Quisqueya Continue reading Posted in News Room Comments Off A TRANSPARENT VIEW OF THE ROLE OF INSURANCE IN THE LONG TERM DEVELOPMENT OF HAITI Posted on May 17 2013 by aic AIC celebrates 10th Anniversary by hosting Haiti s First Insurance Summit Port au Prince Haïti May 10 2012 Alternative Insurance Company AIC a multiline insurance company announced today on the Continue reading Posted in News Room Comments Off Clinton Bush Haiti Fund Donates Company Shares to IIC Posted on May 17 2013 by aic IIC receives 6 9 of the shares of Haitian Alternative Insurance Company Washington D C February 22 2013 The Inter American Investment Corporation IIC received a donation from the Clinton Bush Continue reading Posted in News Room Comments Off THE INTER AMERICAN DEVELOPMENT BANK PARTNERS WITH A HAITIAN PRIVATE SECTOR COMPANY FOR THE FIRST TIME Posted on May 17 2013 by aic AIC will invest funds to expand insurance services and products Port au Prince Haïti March 2012 Alternative Insurance Company AIC a multiline insurance company announced today the Inter American Development Continue reading Posted in News Room Comments Off THE CLINTON BUSH HAITI FUND Posted on May 17 2013

    Original URL path: http://www.aic.ht/content/2013/05/17/ (2016-01-31)
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  • ALLIANCE FOR BETTERING THE INSURANCE FIELD | Alternative Insurance Compagnie | AIC
    finance the acquisition of books journals and magazines for the developing Haiti s first library specialized on insurance The protocol will include a significant investment of human and capital resources to promote ongoing research in the insurance field covering topics such as concepts best practices models and tools and mechanisms to promote a prevention culture among others For that purpose AIC will provide financial support and knowledge needed to develop the research projects and programs focus on developing the insurance sector in Haiti and which might include the combination of the expertise of Haitian scientists and foreign academic institutions researchers and professionals says Mr Olivier Barrau CEO of AIC From its side Quisqueya University will grant scholarships to employees of the Company to cover a total of 30 credits equivalent to 150 hours for courses or tutorials per academic year in all faculties and academic programs offered by the University Celebrating 10 years On the occasion of its 10th Anniversary this last May AIC organized Haiti For Sure a very successful Insurance Summit which brought international and national experts together to bring to the industry multiple perspectives and good practices and experiences with the intention of making insurance accessible for all the population by developing products as tools to mitigate risk and build a safety net for all Haitians The Summit also brought an opportunity to discuss about the need to accelerate the approval of the insurance legislation We were pleased to hear at the Summit the decision of the Prime Minister Office to integrate a special a Groupe de Travail des Assurances constituted by representatives of the Insurance Association insurance companies and both officials and technical staff from the government said Mr Barrau The goal of the Groupe is to agree in a project that can be realistic applied

    Original URL path: http://www.aic.ht/content/alliance-for-bettering-the-insurance-field/ (2016-01-31)
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  • A TRANSPARENT VIEW OF THE ROLE OF INSURANCE IN THE LONG-TERM DEVELOPMENT OF HAITI | Alternative Insurance Compagnie | AIC
    Développer l Agriculture Education et Communication Créer une Culture de Prévention en Rendant l Assurance Accessible à Tous We are honored to announce the participation of a team of international and Haitian panelists who will bring to the industry multiple perspectives and good practices and experiences from other countries with the intention of making insurance accessible for all the population by developing insurance products as tools to mitigate risk and build a safety net for all Haitians CEO Olivier Barrau said From Haiti s own experience with 2010 earthquake the Summit aims to open an opportunity for sharing lessons learned to bring proper governance of the industry as an imperative to earning the trust of the population while putting in place prudential norms to ensure its sustainability and to institutionalize a culture of prevention within an enforceable legal framework New law for sustainability of the industry The goal of Haiti s First Insurance Summit is to leverage the joint efforts of the insurance industry the Ministry of Economy and Finance the Government of Haiti and external partners in passing the proposed regulation of the insurance industry to allow for the strengthening and growth of the industry to occur within the realistic and practical context of the forthcoming legislation The legal framework establishes guidelines that are accessible to the industry and includes a time period for its enforcement allowing the insurance companies to adjust their strategies and business practices Most importantly the legislation takes into consideration the protection of clients by putting prudential norms and supervision of the insurers that guarantee the stability of the sector in the best interest of the clients We are ready for this legislation and firmly believe that a regulated industry in line with international standards will provide the opportunity to evolve into a more mature fair transparent and competitive environment for all insurers Barrau said We are proud to stand with our colleagues and other stakeholders of the industry who are participating in this Summit Ten years of offering Haitians tools to create a safety net Founded in 2001 AIC began operations with a traditional insurance portfolio including automobile commercial products and homeowners insurance However from the very beginning we had a vision of transforming the insurance industry in Haiti CEO Olivier Barrau said We deeply believe that insurance acts as a development cornerstone for the economic and social development of the country especially when it is offered with the vision to make insurance accessible to all the population particularly to those who live in conditions of poverty Over the past 10 years AIC was loyal to this vision and introduced significant changes to the industry by creating products that offered insurance options for all Haitians In 2004 the company introduced Médicarte a product that allows clients to attend immediately to their healthcare needs by reducing out of pocket expenses providing the insured with an in network option or preferred providers organization of healthcare and keeping costs low In 2006 AIC introduced both life products

    Original URL path: http://www.aic.ht/content/a-transparent-view-of-the-role-of-insurance-in-the-long-term-development-of-haiti/ (2016-01-31)
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  • Clinton Bush Haiti Fund Donates Company Shares to IIC | Alternative Insurance Compagnie | AIC
    and Sarona MEDA each invested US 1 million in equity alongside a US 2 million subordinated loan from the IDB The shares received by the IIC constitute the Clinton Bush Haiti Fund s total equity investment in AIC As a condition of this operation the IIC shall use any proceeds from a sale of its investment to promote sustainable economic growth and opportunity in Haiti The IIC is very pleased to have been selected as the recipient of this participation noted Steven Reed the IIC s deputy general manager It attests to the confidence the IIC inspires in international markets and provides us with the opportunity to help bolster the insurance sector in Haiti a nation to which we are fully committed AIC a Haitian multiline insurance company offers traditional insurance products including auto commercial life and health insurance The company has expanded its sphere of action to cover those at the base of the economic pyramid with micro insurance products in collaboration with Haiti s leading microfinance institutions AIC plans to expand its customer base over the next five years and increase its product offerings for the lower middle income and low income markets We are encouraged that more Haitians are discovering insurance as an instrument of well being AIC s CEO Olivier Barrau said Most importantly we are all learning that a prevention culture makes us stronger in an environment highly exposed to risk These partnerships will help us fulfill our promise of protection to those who most need it said Barrau Alternative Insurance Company AIC is a Haitian multiline insurance company founded in 2001 to provide insurance products to all segments of the population AIC offers a variety of insurance products targeted to meet the needs of all Haitians Business lines include Auto Commercial Homeowners Life Group

    Original URL path: http://www.aic.ht/content/clinton-bush-haiti-fund-donates-company-shares-to-iic/ (2016-01-31)
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  • THE INTER-AMERICAN DEVELOPMENT BANK PARTNERS WITH A HAITIAN PRIVATE SECTOR COMPANY FOR THE FIRST TIME | Alternative Insurance Compagnie | AIC
    growth and strengthen the Company s research and development capacity for both traditional products and innovative products We feel rewarded by the fact that Haitians are discovering insurance as an instrument of well being CEO Olivier Barrau said Most importantly we are all learning that a prevention culture makes us stronger in an environment of highly exposed to risk The IDB loan will help us fulfill our promise of protection to those who most need it said Barrau Ten years of offering Haitians tools to create a safety net Founded in 2001 AIC began operations with a traditional insurance portfolio including automobile commercial products and homeowners insurance However from the very beginning we had a vision of transforming the insurance industry in Haiti CEO Olivier Barrau said We deeply believe that insurance acts as a development cornerstone for the economic and social development of the country especially when it is offered with the vision to make insurance accessible to all the population particularly to those who live in conditions of extreme poverty Over the past 10 years AIC was loyal to this vision and introduced significant changes to the industry by creating products that offered insurance options for all Haitians In 2004 the company introduced Médicarte a product that allows clients to attend immediately to their healthcare needs by reducing out of pocket expenses providing the insured with an in network option or preferred providers organization of healthcare and keeping costs low In 2006 AIC introduced both life products to its portfolio targeting middle and lowincome customers and a microinsurance product With the advent of microinsurance the dream of making insurance available to a broader Haitian population came to life AIC s microinsurance portfolio has now covered 106 000 loans In 2009 AIC launched Protecta a funeral insurance product which

    Original URL path: http://www.aic.ht/content/the-inter-american-development-bank-partners-with-a-haitian-private-sector-company-for-the-first-time/ (2016-01-31)
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