Desmond Johnson is planning to drive innovation and operational efficiency in his new role as chairman and chief executive officer of FIRM Insurance Brokers Limited.

The former senior executive at NCB Financial Group recently acquired an over-60 per cent stake in the company through his wholly owned holding company, SHILOH Investment Limited, for an undisclosed amount. Since then, his focus has been on the transformation of the over 28 year-old full-service insurance brokerage outlet which offers life, health, and general insurance, as well as pension fund advisory and consultancy services for corporate and individual clients.

“I will have full responsibility for the strategic direction, growth and overall performance of FIRM Insurance Brokers Limited. Driving innovation and operational efficiency will be critical, while at the same time, focusing on delivering best-in-class customer experience,” Johnson explained.

He will be leveraging his over 30 years’ experience in the financial sector, including as general manager and head of pensions at NCB Insurance Agency and Fund Managers Limited. While with the NCB Financial Group, Johnson was responsible for pensions, employee benefits, life and general insurance, commercial leases, and mortgages. The wealth of experience and industry insight he brings into his new role also spans areas such as accounting, investment, business development, and client management.

Yet, the financial services professional is keenly aware that FIRM Insurance Brokers has built a solid reputation and a strong presence in Jamaica’s insurance industry, as a regulated entity under the supervision of the Financial Services Commission.                                   

“This strategic move marks a new chapter for FIRM Insurance Brokers Limited, aligning its legacy of service with forward-thinking leadership and renewed ambition for growth,” he shared in a release.

As part of his medium- to long-term vision, Johnson aims to expand the firm’s product offerings, broaden its client base, and strengthen its position in the market as a trusted provider of comprehensive financial protection and advisory solutions. This, he believes, will significantly improve the insurance brokerage firm’s “revenue generation and long-term profitability”.

When Our Today asked how else he can improve FIRM’s market share and financial position as a full-service insurance provider, he simply responded, “Improving new business focus and introducing fund management, plus other joint ventures.”

While the new chairman and CEO of FIRM has identified gaps in the insurance market that the company can use to differentiate itself, he is not yet ready to share, given the existing competition. Notwithstanding, Johnson understands the role public education can play.

“I think that there is more that can be done and to get the public to understand that insurance in general is a major part of any wealth creation strategy,” he told Our Today.

“We will certainly also be on the drive to educate the public on the importance of pensions through our advisory service to both trustees of pension plans, participating members, and those who are yet to join a pension arrangement,” he continued.