General Accident Announces Intention To List On The Junior Stock Exchange
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September 5, 2011

General Accident Announces Intention To List On The Junior Stock Exchange

Sharon Donaldson, Managing Director of GAICJ, notes “the listing will enable General Accident to become the only public general insurer in Jamaica and improve its ability to serve all of its stakeholders including: policyholders, brokers, reinsurers, staff and its shareholders.”

Since 1985, MIL has been providing investment advisory services to corporate Jamaica. MIL is the leading broker for Jamaica’s major equity transactions such as initial public offering (IPOs); takeovers; mergers and acquisitions and delistings.

Gary Peart, CEO of MIL notes that GAICJ is one of Jamaica’s oldest and strongest insurance companies and expects that the investing public will take advantage of this new and exciting opportunity. This proposed listing represents the 10th company being brought by MIL to the Junior market since its inception in 2009, and Mayberry continues its strategic focus of partnering with Jamaican businesses to unlock unrealised value.

Paul Scott, Chairman of GAIJC, says “We believe that the Company’s key strengths include its reputation, claims service, deep customer relationships, strategic partnerships with key business originators and reinsurers, and its ability to maintain some of the lowest loss and expense ratios of its local industry peers.”

“We are proud of our management team and staff complement, whose efforts have caused the Company to be recognized as one of the most profitable general insurers in Jamaica based on independent data published by the Insurance Association of Jamaica.”

For enquiries contact:

Melanie Subratie
Deputy Chairman, Musson Group
msubratie@mussongroup.com

Gary Peart
Chief Executive Officer, Mayberry Investments Limited
gary.peart@mayberryinv.com