Minister of Finance and the Public Service, Dr Nigel Clarke (third right), joins David O’Brien (second right), chairman, and other executives of the newly formed Massy United Insurance, Jamaica, to cut the ribbon at Wednesday’s launch at the Pan Jamaican building in New Kingston. Others in the picture from left are: Mark Sommerville, chief commercial officer, Randy Graham, CEO, Winsome Gibbs, branch manager, and Peter Graham, country manager, as they officially welcome Massy’s newest milestone in Jamaica.
M inister of Finance and the Public Service, Dr Nigel Clarke, has welcomed the Massy Group’s investment in the new Massy United Insurance Jamaica (MUI), as further evidence of the growing interest of overseas investors in Jamaica’ economy.
Dr Clarke told Wednesday night’s launch of the MUI, at the Pan Jamaican building in New Kingston, that it was more proof that Jamaica is experiencing “the best times, economically”.
“When an organisation like the Neal & Massy Group, that has the opportunity to invest anywhere they want, (because) they are in over 19 markets — they can go north, they can go south, they can go east, they can go west — but they choose to set up operations in the insurance business, which is a business that takes risks: This is not a shop, it is a business that comes to Jamaica to take risks,” Clarke noted.
“It tells you that they, like us, smell opportunity, and it is my job to welcome them to Jamaica,” the minister went on, as he urged the crowd at the launch to give Massy a round of applause.
Massy United Insurance (MUI), a Massy Group (formerly Neal & Massy) subsidiary, officially entered the local general insurance market on Wednesday with the launch.
The self-made insurance company, with geographic diversifications unique to the region, opened its doors in the Pan Jam building at 60 Knutsford Boulevard, New Kingston, with a red carpet event with cocktails, lots of food and steel band music in the background.
However, it is no stranger to Jamaica as its parent company, Neal & Massy, operated for a number of years in Jamaica’s food and drug distribution sector, and currently three of its subsidiaries — Massy Gas, Massy Distribution and Massy Technologies — operate in Jamaica.
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