User:Miriamakamo/Provident Capital Indemnity

Provident Capital Indemnity

Provident Capital Indemnity is a specialist insurance and reinsurance company. Founded in 1991, the company currently has total assets of over US$185 million and has maintained a 5A/5AS Dun & Bradstreet rating since 1998. During the past five years (2005-2010), the company has undergone a full operational and managerial resttructuring following the appointment of Dr Minor Vargas as President and CEO in 2005. His appointment followed the dismissal of the company's former President for gross misconduct.

The company's Board today comprises of Dr Vargas, Dr Claudio Ansorena, a former economist for the Inter American Development Bank in Washington DC, David Aguilar who holds an MA in Economics from the University of San Francisco, and Eduardo Montero.

Today Provident Capital Indemnity provides special insurance and reinsurance cover to state owned bodies, and and regulated insurance and financial organisations, for use by professional insurance and financial specialists. Growth areas for the company include Financial Guarantee Bonds for the financial services sector and Surety Bonds, that ensure performance of contractual obligations between parties, and payment where the principal defaults.