St. George’s, October 10, 2011 – An insurance institute is to be formally established in Grenada later this month.

The Insurance Institute of Grenada, a project of the Association of Grenada Insurance Companies (AGIC), will be officially launched 7 p.m., Saturday, October 29, at the Grenada Trade Centre, Morne Rouge, St. George’s.

With the launch, Grenada will join other regional countries – such as St. Lucia, Trinidad & Tobago, Jamaica and Barbados – which already have insurance institutes.

“The primary function of the Insurance Institute of Grenada will be to assist in educating employees of the insurance industry in acquiring knowledge on various aspects of the insurance business,’’ said Bernard Wilson, AGIC’s Public Relations Officer.

Wilson said the institute is planning to provide recognized certified training in areas that include underwriting, risk management and actuarial.

“Some of the tutors will be from here in Grenada. The rest will be from qualified personnel from the region,’’ said Wilson.

As part of the institute launch on October 29, a lecture will be delivered by Barbadian Randy Graham of the Insurance Institute of Barbados.

The topic of his lecture will be, “The Role of Reinsurance in the Caribbean.’’