General Accident Insurance Company Jamaica Limited (GAICJ) is pleased to announce its intention to list on 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 growing and most profitable general insurance companies in Jamaica and has been providing all classes of non-life insurance in Jamaica for over 30 years; directly through its sales force and through its strong relationships with the insurance broker community.

GAICJ expects to issue new shares equivalent to 20% of its ordinary share capital and raise J$400 million to J$425 million dollars, which it will use to strengthen its regulatory capital and continue its growth trajectory.

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