Insuring foreign investment projects in Cuba

Event: Insuring foreign investment projects in Cuba

Date: 22nd September 2016. 10.30-12.00

Venue: Temple Chambers, Central London

On Thursday 22nd September, The Caribbean Council held an intimate round table meeting with the General Director of the Cuban state insurance company, Seguro Internacionales de Cuba (ESICUBA), Mr Jose Carlos Meijides.

At the beginning of the meeting, Mr Jose Carlos Meijides spoke about ESICUBA’s role in insurance relating to foreign investment in Cuba. The very informative presentation gave a fascinating insight into the Cuban Insurance market from its history and the Cuban laws related to insurance, to a closer look and focus on ESICUBA’s role within it.   Following this talk, attendees engaged in a question-and-answer session with Mr Jose Carlos Meijides about the process of insuring foreign business activities and projects in Cuba.

Attendees included:

  • HE Mrs Teresita de Jesus Vicente, the Cuban Ambassador;
  • Olena Navas, the Cuban Commercial Counsellor in London;
  • Mr Alejandro Ramos, the current Managing Director of Anglo Caribbean Insurance Agents who work directly with ESICUBA as their agents in London; and
  • some other representatives from Anglo Caribbean.

Following the meeting, the participants were able to network with our Cuban delegates.

ESICUBA Background

ESICUBA is the direct insurer of all foreign investment projects in Cuba and has the first right of refusal to insure all projects in Cuba that have a foreign interest. It has links to the London market, working with brokers in the City of London, amongst others. It offers insurance for a range of sectors including the maritime, aeronautical, industry and construction sectors, as well as for the transport of goods and medical insurance for tourist and foreign residents.

Mr Meijides’ biography

Mr Meijides has a long career in the insurance industry. He has been the General Director of ESICUBA since 2011 after having held of the role of ESICUBA’s Commercial Director from 2005, and prior to that, he was an insurance broker at Heath Lambert de Cuba and the Technical Director of Aseguradora del Turismo La Isla (a Cuban insurance company). He has a degree in Law from the University of Havana.