Holness Mourns Dennis Lalor, ICWI Founder and Former PSOJ President

Prime Minister Andrew Holness has led condolences for businessman and philanthropist Dennis Lalor after his death, praising him as a forward-looking corporate figure whose efforts helped mould Jamaica’s private sector and broader national progress.

In a Thursday post on social media platform X, Holness said Lalor passed away on Wednesday night, calling the event “a significant loss to the nation.”

“I join the business community and the wider Jamaican public in mourning the passing of the Honourable Dennis Lalor, OJ, former President of the Private Sector Organisation of Jamaica and Founder and Chairman of the Insurance Company of the West Indies (ICWI) Group,” the prime minister said.

“Dennis Lalor was a visionary businessman whose leadership, innovation, and commitment to national development was instrumental across Jamaica’s private sector,” Holness added.

He said Lalor left “a lasting contribution to economic growth, entrepreneurship, and corporate leadership” through his insurance career and his service to the Private Sector Organisation of Jamaica.

Lalor established ICWI Group and expanded it into one of the Caribbean’s leading financial groups, with business in Jamaica and across the region.

His insurance career took root in the 1950s under the mentorship of executive Lister Mair. In 1958, Lalor was one of the first two West Indians to obtain the Associateship of the Chartered Insurance Institute.

Following Mair’s death, he took over the business interests tied to his mentor before creating his own insurance company.

For decades, Lalor remained a central figure in Jamaican commerce and public policy.

He was PSOJ president from 1990 to 1992, during a time of sweeping economic liberalisation, and joined regional investment efforts, including the 1993 creation of the Caribbean Investment Fund with CARICOM heads of government.

Away from business, he was known for philanthropy, education support, and sports governance.

He helped launch the University of the West Indies Development and Endowment Fund after Hurricane Gilbert in 1988. The fund has since directed hundreds of millions of dollars toward university development and student support.

Lalor chaired the Betting, Gaming and Lotteries Commission and the Jamaica Racing Commission, among other senior national posts.

An accomplished polo player and former captain of Jamaica Polo, he also led the Jamaica Polo Association and the Kingston Polo Club.

He entered Jamaica’s Hall of Fame of Thoroughbred Racing in 1989 and collected several national and civic honours, including the Order of Jamaica in 1994, one of the island’s highest awards.

In horse racing administration, he was credited with raising literacy among jockeys through reforms during his tenure. A 2019 Gleaner interview said he championed minimum educational standards before jockeys could compete professionally.

He also sat on philanthropic and international boards, including the Council on Foundations and United Way.