For the first time in its history, insurance company General Accident surpassed $10 billion in gross written premiums last year.

This represents a 23 per cent increase over 2018, as the General Accident Group wrote more than $10.7 billion in gross premium in 2019, producing net income of $2.4 billion. This net income exceeded profitability targets for 2019 and generated an improved return on equity.

In its just release 2019 annual report, General Accident reported that net premiums earned were $2.2 billion in 2019, a 37 per cent increase over the previous year. Premium volumes were driven by balanced, broad-based growth in all key lines, which was achieved by scaling the business, strengthening the motor insurance franchise and expanding the company’s reach beyond Jamaica.

http://www.jamaicaobserver.com/business-observer/general-accident-creates-history-surpassing-10-billion-in-gross-written-premiums-in-2019-acquisition-of-trinidad-subsidiary-motor-one-paying-off_197996