Starr Companies is “well-positioned” to help clients take advantage of opportunities made available by recent U.S. regulations easing restrictions on travel to Cuba, according to Starr International Co. Inc. Chairman Maurice Greenberg.
“We are at the beginning of what could be new opportunities as Cuba and the United States explore ways of ending years of travel and trade restrictions,” said Greenberg in a statement, adding that “Starr is committed to assisting clients that wish to explore their own opportunities in Cuba.”
Starr Companies has a history in Cuba, having established its international headquarters in Havana in 1943 after relocating from Shanghai, according to a company statement. Starr relocated to Bermuda 15 years later after diplomatic relations between the U.S. and Cuba were severed in 1961.
Now, with the easing of travel restrictions between the U.S. and Cuba, large numbers of U.S. individual and business travelers are beginning to explore potential local business, cultural and educational opportunities. However, the development of any such opportunities will take time and patience.
Starr believes Assist-Card International Holdings SA, a Starr subsidiary that offers insurance and services for travelers globally, is uniquely positioned to provide travel assistance services and insurance to individuals seeking to travel to Cuba.
“The challenges of doing business in Cuba are substantial,” Greenberg said. “But Starr is well-positioned and prepared to leverage our relationships and global network to support our clients’ entry into this market.”