There was an increase in profit at General Accident Insurance Company for the year ended December 31. It amounted to $295 million up from $221 million in 2017. General Accident says during the year, gross written premium grew to $8.7 billion, a 23 per cent increase over the previous year.
The Government will this year strengthen the operational and technological capacity of the Financial Services Commission (FSC) to undertake risk-based supervision across the industries it supervises. A total of $13.4 million has been earmarked for this undertaking in the 2019/20 Estimates of Expenditure. The sectors that will be directly impacted
In the last decade, Jamaica has borrowed from China to finance badly needed infrastructure and there has been foreign direct investment (FDI) by Chinese companies in the bauxite and sugar industries. These developments have ignited a controversy about whether Jamaica is losing what little economic sovereignty it has. Some have
Jamaica is experiencing a surge in the demand for villa rentals for 2019, according to luxury villa rental company Exceptional Villas. The company, which also owns Villas Barbados and Dream Ireland, states that the “unprecedented increase in advance bookings for 2019” follows on the heels of a 35 per cent
This year's staging of The Food Network & Cooking Channel South Beach Wine & Food Festival (SOBEWFF) will feature an event on Friday, February 22 called “Taste of Jamaica” which is to be dedicated to Jamaican cuisine. The festival which runs from February 20 – 24 is hosted in the
Five non-profits aiming to raise a combined $90 million as a precursor to listing their projects on the Jamaica Social Stock Exchange, the JSSE, have amassed 15 per cent of the target on the first day of the launch of the pledging website on Monday. Members of the public can
The market value of Jamaica's sole oil refinery Petrojam has dropped by nearly US$100 million in the past 12 years, newly appointed Energy Minister Fayval Williams has revealed. According to Williams, a valuation conducted in 2006 by an international firm using globally accepted standards placed the value of the 55 year-old refinery at US$126 million.
More than half the vehicles in Jamaica are uninsured, a statistic that is of huge concern to road-safety officials and one which the police consider “frightening”. A study conducted by the Jamaica National Group, based on data culled from Tax Administration Jamaica and the Insurance Association of Jamaica (IAJ), shows
Some Jamaican entrepreneurs, leaders and personalities involved in the island's sustainability and renewable energy movement were recently featured in the internationally renowned business magazine, Forbes. The coverage came in the form of two articles entitled “Make Jamaica Green Again: 10 Powerful Women Leading The Sustainability Movement” and “6 Renewable Energy
The modernisation of Jamaica’s central bank will see the Government pumping around $26 billion of fresh capital into the Bank of Jamaica, BOJ, as it transitions to independence. Side by side with its recapitalisation, says Finance Minister Nigel Clarke, the BOJ will be moving to incentivise interbank activity and
