Special Advisory: General Accident Insurance Company Jamaica Limited (GENAC)

Date: September 17, 2019

General Accident Insurance Company Jamaica Limited (GENAC) has announced the acquisition of a majority stake in Motor One Insurance Company Limited (“Motor One”), a Trinidadian motor insurance company headquartered in Port of Spain with a large branch network throughout Trinidad. GENAC has also advised that under the terms of the agreement, GENAC will acquire a 55% stake in Motor One with the remaining 45% of the shares acquired by Micon Marketing Limited. The transaction has received the approval of the Financial Services Commission in Jamaica and a letter of no objection from the Central Bank of Trinidad and Tobago. Robert Mowser, an experienced Trinidadian insurance executive, has been appointed as Motor One’s Chief Executive Officer.

Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.

2019-09-17T20:07:29+00:00