Contributed
Michael Fraser, left, newly-elected president of the Life Insurance Companies Association (LICA), talks with Brian Wynter, technical secretary, Task Force on Financial Services, at a luncheon held during LICA's annual general meeting in Kingston, recently.President and chief executive officer of Island Life Insurance Company, Michael Fraser, has been elected president of the Life Insurance Companies Association of Jamaica (LICA) for the next two-year term.
Mr. Fraser, who succeeds Orville Johnson, was elected during the Association's annual general meeting at the Hilton Hotel in New Kingston recently.
LICA is the trade organisation of the life insurance industry and is involved in human resources development which takes the form of training courses. The association also serves as a link between the Government and its agencies, facilitates dialogue and cooperation among companies in areas of interest to policyholders, and promotes a public education programme.
Mr. Fraser, a veteran of the life insurance industry having been involved in the sector at various levels since 1962, was appointed president of Island Life in February 2000, and has since led the company's financial recovery.
His stint in the insurance sector started at Jamaica Mutual Life, from where he moved to Life of Jamaica (LoJ) in 1964 and quickly established his mark as a top producer, making the prestigious Million Dollar Roundtable on several occasions. He emigrated to Canada in 1972 and moved up the ladder to become the first West Indian branch manager at North America Life.
In 1982, Mr. Fraser returned to Jamaica and was appointed vice-president for marketing at LoJ where he remained until his appointment as president of Island Life. A former past-president of the Life Underwriters Association of Jamaica (LUAJ), Mr. Fraser was named LUAJ's "Industry Man of the Year" in 1999.
