Peter Levy (right) formally hands over the reins of the Insurance Association of Jamaica to Vernon James the new President on Friday June 26, 2020 at a ceremony held at the Jamaica Pegasus Hotel in New Kingston. Vernon James presented a gift to Peter Levy, a montage of some of the activities that took place [...]
The Insurance Association of Jamaica (IAJ) is advising Jamaicans to brace for an increase in premium come January next based on COVID-19 and other market conditions. Responding to questions from The Jamaica Observer's Sunday Finance, IAJ vice-president Mark Thompson explained that a review in premium rates has become necessary because of COVID-19 and its effects [...]
With no vaccine or treatment yet developed, there is a lot of ‘guesstimating’ that the COVID-19 coronavirus may be around for at least another year, but more likely two, and that people and systems will have to adjust. That includes the insurance market, where the absence of business continuity insurance, or BCI, as offset to [...]
The Bank of Nova Scotia (BNS) continues to reduce its Caribbean presence by selling some country operations. Caribbean Investment Holdings Limited (CIHL) announced on June 22 that it has reached an agreement for the purchase of Scotiabank (Belize) from Scotiabank Caribbean Holdings Ltd., a subsidiary of BNS for an initial purchase price of up to [...]
Minister of Finance and the Public Service Dr Nigel Clarke says Jamaicans who are conflicted about the island reopening its economy, before the coronavirus (COVID-19) is completely contained, should understand the consequences of doing otherwise. Growing economic dislocation could affect the livelihood and lives of thousands, Clarke outlined in an interview with Loop News. For [...]
The National Export-Import Bank of Jamaica (EXIM Bank) says it will be disbursing $8.1 billion in loans to micro, small, and medium-sized enterprises (MSMEs) this fiscal year. That is an increase of $2.1 billion over the $6 billion in financing to the MSME sector for 2019/2020. According to Minister of Industry, Commerce, Agriculture, and Fisheries [...]
WASHINGTON, DC, United States (CMC) — The director of the Western Hemisphere Department of the International Monetary Fund (IMF) Alejandro Werner said yesterday Latin America and the Caribbean have become the new coronavirus (COVID-19) global epicentre. He said the human cost has been tragic, with over 100,000 lives lost. The economic toll has also been [...]
Don Wehby (left), Group CEO of GraceKennedy and chairman of Canopy Insurance, shares a light moment with Health and Wellness Minister Dr Christopher Tufton (centre) and Sean Scott, CEO of Canopy Insurance, at the official launch of Canopy Insurance on January 16, 2020 at the Jamaica Pegasus hotel in New Kingston Just over a year [...]
“Small businesses must take a serious look at their current business model: Is it still feasible in this pandemic? What new business opportunities exist? What strategies can be implemented to manage cash flow and extend the life of their operations? It can't be business as usual,” stated Sandra Glasgow, founder and chief executive officer, Biztactics [...]
Financial expert at JMMB Investments Nadine Thomas is encouraging investors to be on the lookout for new opportunities, urging them to stay invested and to take advantage of any new prospect resulting from the novel coronavirus pandemic. Thomas, who was speaking recently at a JMMB Group's weekly Goal Getter Live webinar series, said that there [...]
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