SAN JUAN, Puerto Rico, August 11, 2023 - The International Insurance Consulting Group (ICG) and Principal Rep LLC (Principal Rep) today announced a strategic partnership to boost compliance officer services for international insurers. The advanced services include individual client verifications, Know Your Customer (KYC) & client onboarding process management, and Anti-Money Laundering (AML) monitoring and reporting. This initiative underlines the commitment to sustain Puerto Rico's International Insurance Center at the apex of regulatory compliance.
The joint venture capitalizes on the core strengths of both entities, combining IICG's industry experience and Principal Rep's innovative technology. Principal Rep's cutting-edge risk assessment tools will now be a part of IICG's robust service suite. This fusion of expertise will lead to increased efficiency and precision in KYC and AML processes, setting new standards in the industry.
This strategic alliance represents a significant milestone in maintaining Puerto Rico's position as a leading jurisdiction for international insurance. The two companies are dedicated to fostering a safe and transparent insurance sector that ensures adherence to global regulatory norms. Through this partnership, IICG and Principal Rep aim to provide a fortified compliance framework, promising significant benefits to international insurers operating in Puerto Rico and beyond.
For more information about IICG, visit www.licpr.com.
Ruben A. Gely-Ortiz, AINS ARM CAMS
C +1 (888) 997-3044
9 5 Domingo Marrero, Suite 4,
San luan PR 00925