Key Insurance says an unusual spike in claims during the first six months of  its financial year resulted in its racking up losses.

   The insurance company suffered an operating loss of  J$19 million and claims amounted to an unprecedented $142 million.
   Key Insurance in notes attached to its financial results, explained that it is reviewing its risk detection and pricing mechanisms to identify possible weaknesses and take corrective actions.
Despite the constant lowering of  premium rates in the general insurance market, Key Insurance says it will meet its premium written targets for the financial year.