Recent Items about: Insurance

New IPO: Key Insurance Makes Last Minute Dash For The Junior Market

Talk about a reaaally expedited listing. Key Insurance Company Limited will have to rush its application if it intends to list on the Jamaica Stock Exchange Junior Market, BEFORE the end of March 31, 2016. The company, which published its prospectus yesterday (Tuesday March 22nd) will open its IPO, one week later on the Tuesday the 29th and hopes to list its shares on the JSE before the 31st (Thusday). Wow, talk about a close call.

Key insurance is offering 92.1m shares (52.7m new and 39.4m from existing shareholders who have decided to sell) to the general public in this IPO. JMMB securities has been selected as their lead broker and has access to 80% of the total shares on offer as reserved shares. Continue Reading

Bulletin, Stocks / I.P.O.s

Never Mind The Election, Jamaica’s Newest Insurance Company Launches IPO

It may be their confidence in the economy, the wonderful performance of the stock market, the already secured commitments from customers to invest, or the pressure to meet the deadline to get the tax-free exemption – or a combination of all of them – but consider it a rather bold and unusual move for IronRock Insurance company, an unknown startup company to issue their prospectus 2 days before a general election.

This post provides a summary of their prospectus as they attempt to raise funds and list on the Junior market of the Jamaica Stock Exchange. Continue Reading

e-Update, Stocks / I.P.O.s

Sagicor Life Jamaica Limited makes J$4.1 billion in 9 months

Sagicor Life Jamaica Ltd

Sagicor Life Jamaica Limited presented their Q3 2011 performance for the Group of companies Thursday November 10, 2011th touting profits of J$4.1 billion. For the nine months ended September 30, 2011, there has been a 16% improvement over the same period last year. Continue Reading


Anya Schnoor off to Canada, Lissant Mitchell to replace

Scotia Group Jamaica Limited has advised that effective November 1 2011, Anya Schnoor, Executive Vice President Wealth Management & Insurance and Chief Executive Officer of Scotia Investments will be leaving Jamaica and assuming a developmental position with Scotiabank in Toronto, Canada.

At a meeting of the Board of Scotia Investments Jamaica Limited held on September 29, 2011, Lissant Mitchell, currently Chief Operating Officer of the company, was elected to assume the position of Chief Executive Officer effective November 1, 2011.

Management & Movements

Guardian Holdings Ltd’s sale of Jubilee Group Holdings Ltd approved

After almost 5 months, Guardian Holdings Limited’s (GHL) sale of Jubilee Group Holdings Limited (JGHL) has been approved.

Guardian Holdings Limited (GHL) agreed to sell their Lloyd’s of London business, Jubilee Group Holdings Limited (JGHL) earlier this year (May 2011) to Ryan Specialty Group, LLC for a total of £35 million, which amounts to TT$359 million, 2.33 times the book value (at the time). Continue Reading

Business Strategy

QUICK LINK: General Accident looks to list on the Junior Market

General Accident Insurance Company Limited (GAICJ) is pleased to announce its intention to list the Junior Market of the Jamaica Stock Exchange. Mayberry Investments Limited (MIL) has been appointed Lead Broker and Selling Agent. GAICJ is one of the fastest … Continue reading