Duggan Consulting Limited

NAME OF FEATURE | THE GLEANER | MONDAY, NOVEMBER 30, 2020 13 DUGGAN CONSULTING LTD 50TH ANNIVERSARY MESSAGES FROM RESIDENT PARTNERS I N MANY ways, the path of my life has been mapped out by four years working in Jamaica in the late 1970s, and I am delighted that the office I was part of from age seven to 11 has reached the great age of 50. I AM pleased that Astor Duggan, one of the first people I met when I arrived in Jamaica in 1977, has ensured its continued success. Many congratulations! RICHARDWILLIAMS Resident partner 1979-1981 Delighted you have reached 50 M ANY CONGRATULATIONS to Duggan Consulting on achieving its 50 years of operation in Jamaica! As the resident partner of one of Duggan Consulting’s prede- cessor firms during the 1980s, I am delighted to see it continuing to thrive and support businesses and other organisations in the country. Actuaries provide a vital service in the financial sector and are in short supply, so Jamaica is lucky to have a thriving consulting firm of this kind on the island. It was a privilege to have been a part, albeit small, of the firm’s long and rich history, and a pleasure to spend time in such a wonderful country. Here’s to the next 50 years! IAN SKINNER Resident partner 1981-1984 Here’s to the next 50 years T HE STAFF Christmas party was in full swing one evening in December 1971 when, to my consternation, I was summoned to an interview with Alex Poyser, the senior partner of R Watson & Sons (RWS). It was with both relief and excitement that I was to learn that the partners wishedme to take over from Michael Bell as the resident partner in the newly established Jamaica Office. RWS had served clients in the Caribbean for a num- ber of years but, in 1970, Michael Bell and John Martin, the partners involved, persuaded their conserv- ative peers that we should establish the firm’s first permanent presence overseas. Of course I said “Yes”, and June 1972 saw me aboard the Fyffes ba- nana boat Camito on her last voyage to the West Indies in the company of my wife Jenny and Nigel, our one-year-old son. So began my challenging but immensely en- joyable two-year spell in Jamaica. Forty-eight years later, I recall that period of my life with fond memo- ries; it left me with a host of amusing anecdotes to relate and a great af- fection for the island and its people. My younger son, Russell, was born in Kingston in 1973, an enduring relationship with Jamaica. Our office staff initially numbered three, in addition to myself: Denise Radix, my effervescent Trinidadian actuarial assistant, Marceline Martin, who performed wonders on her comptometer, and Sally Graham, my secretary. From the outset we embraced what, in modern termi- nology, is known as diversity! Our clients included both pension funds and life assurance companies, and perhaps it was my experience of consulting in both these fields, rel- atively rare in the firm at the time, which presented me with the op- portunity to work in Jamaica. I was described by The Gleaner as the ‘apples and oranges man’ when, at a public seminar, I pointed out to a lecturer from The University of the West Indies that in claiming the inferior saving efficiency of a life assurance endowment policy compared with a building society deposit, he had failed to recognise the essentially different character- istics of the two fruits. The most notable event of my stay in Jamaica was the introduc- tion of new insurance legislation which mirrored the corresponding contemporary legislation in the UK. We were appointed to assist the Superintendent of Insurance, Harry Milner, to implement this legislation and to vet and monitor local and overseas companies conducting in- surance business in Jamaica. I like to think we made a substantial contri- bution to the integrity of the local industry and the financial protec- tion of policyholders, although our efforts attracted the opprobrium of the minority of companies who failed to meet the new ethical or solvency requirements. Since my retirement, much has changed in the actuarial consult- ing field. The business of R Watson & Sons is now part of a very large international consulting group, Willis TowersWatson, and its former operations in Jamaica have been transferred to Duggan Consulting Limited. While the days of the pro- fessional partnerships familiar tome are history for the main part, I know that the professional standards they demanded and their determination to serve their clients and their inter- ests to the best of their ability are re- tained in both these organisations. Many congratulations and best wishes to everyone who has been involved in our Jamaican business over its 50-year history. I ampleased and privileged to have made a small contribution to its success. I wish both the present members of Duggan Consulting Limited and the clients they serve every success in their continuing relationship. BOB MASDING Resident partner 1972-1974 Wishing every success to Duggan Consulting Limited