Society-wide
Governance and quality policy
Demerara Mutual is owned by its members, governed by a board they elect, regulated in each country where it operates, and certified to ISO 9001:2015 for its quality management system.
Members and the Board
A society governed by its members
Every holder of a participating life policy is a member of the Society. Members meet once a year at the annual general meeting, where they receive the audited financial statements and the reports of the directors and auditors, elect directors, elect the auditors and set their remuneration, and approve an appropriation for donations to charity and for education. A member who cannot attend may appoint another member as proxy through the Company Secretary.
The Board of Directors is responsible for the sound and prudent management of the Society. It reviews operations monthly, approves the annual budget, and makes sure management carries out the Society’s strategy and complies with the insurance regulations of every territory. Directors must themselves be members, holding a participating policy with the Society.
Board committees
- Finance and Marketing CommitteeChair: Maurice Solomon
- Audit CommitteeChair: Arron Fraser
- Building CommitteeChair: Carlton Joao
- Human Resource and Death Claims CommitteeChair: Deenawati Panday
- Risk and Investment CommitteeChair: Arron Fraser
Regulation and advisers
Regulated in every territory
The Society is licensed and supervised by the insurance regulator in each country where it sells policies. Its accounts are audited each year and its liabilities are valued by an independent actuary.
Regulators
- Saint Vincent and the Grenadines
- Financial Services Authority (FSA), Saint Vincent and the Grenadines
Professional advisers
- Auditors
- TSD Lal & Co., Chartered AccountantsAn independent correspondent firm of Deloitte Touche Tohmatsu
- Actuary
- Edward Kuo, Consulting Actuary, Actuarial Perspective Inc.Mississauga, Ontario
- Reassurers
- Swiss Re Life & Health CanadaToronto, Ontario
- Attorneys-at-law
- Cameron & ShepherdGeorgetown, Guyana
As named in the annual report for 2025.
Quality policy
Quality policy statement
The Society’s quality management system is certified to ISO 9001:2015. This statement, reference POL-15/V-01, took effect on 27 March 2023 and is signed by the Chief Executive Officer and the Chairman of the Board.
Download the signed statement (PDF)Demerara Mutual Life Assurance Society Limited is committed to providing superior life assurance products that meet its customers’ needs and deliver the highest standard of service that exceeds expectations.
With over 130 years of experience in the insurance industry, we are steadfast in maintaining our reputation by utilising our extensive industry knowledge and expertise to understand the unique needs of our valued customers.
As a company, we seek to foster a culture of compliance by committing to all applicable requirements of the ISO 9001:2015 Standard and industry regulations, building confidence in our operations and ensuring continuous improvements in our processes that drive quality in all we do.
To uphold our legacy of reliability and trustworthiness, we commit to investing in the training and development of our people to provide knowledgeable, efficient and effective services. Continuously evaluate and improve our systems and technology to support our quality objectives and enhance customer experience to form long-lasting relationships.