Summit was formed in 1994 when a group of local businessmen formed the company.  The start up capital of $5m was by far the most of any new local insurance company and underscored the shareholders commitment to building a stable and secure insurance company.  Colin Jones, a veteran of the Caribbean and U.K. insurance industry was selected to run the venture and guide it through it’s early formative years.

During it’s brief history, Summit has weathered many storms, literally as well as figuratively.  The most significant of these were:

1999                Hurricane Floyd                      $24m paid

2001                Hurricane Michelle                   $7m paid

2004                Hurricane Frances                   $60m paid

2004                Hurricane Jeanne                    $14m paid

2005                Hurricane Wilma                     $15m paid

Our focus on conservative underwriting techniques and preservation of capital has helped us to handle these losses without putting significant pressure on our resources.

Throughout our history, we have consistently performed at or near the top of our market in most relevant performance ratios.  This includes return on equity, return on income and underwriting ratios.

Today, our highly qualified staff of seven persons are working to ensure that Summit remains at the top of the local insurance market.