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Massy mulls general insurance in Jamaica

Massy

THE rebranded Trinidad-based Massy group wants to enter the insurance sector in Jamaica.

Without disclosing details of its plans, the move, it indicated, would widen the conglomerate’s customer base beyond its corporate services.

“Massy United Insurance: again we do not have this business in Jamaica but we would like to be,” said group president and CEO Gervase Warner in his address to clients and managers on Monday at the Jamaica Pegasus Hotel in Kingston. United Insurance is in 14 territories across the region,”

Massy United Insurance, based in Barbados, offers general insurance services in the English-and Dutch-speaking Caribbean through a network of sub-agents.

Entry into Jamaica could see Massy gain market share in a sector worth $29.8 billion in gross premiums in 2013, according to industry data.

Warner said that operations in Jamaica currently lack consumer lines to maximise “synergies” arising from the name change.

Such synergies include offering a newly launched Massy loyalty card in Trinidad and Barbados that offers rewards across its various consumer lines.

Published in the Jamaica Observer
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