About IAJ

The business of the IAJ is managed by a Board of Directors comprising the CEOs of the Life and General Insurance Companies. The Board is made up of four representatives from the life sector and four from the General Insurance sector.

GraceKennedy makes offer to acquire Key Insurance

By |2020-01-23T00:20:13+00:00January 23rd, 2020|news|

Following on the heels of its 15 per cent share acquisition last year December, the GraceKennedy Group (GKG) has announced plans to further strengthen and expand its financial division through an offer by the holding company, GraceKennedy Financial Group Limited (GKFG), to acquire a greater stake in Key Insurance Company Limited. In going public on [...]

Port Royal residents must own development, says PM

By |2020-01-23T00:16:53+00:00January 23rd, 2020|news|

KINGSTON, Jamaica — Prime Minister Andrew Holness says the Port Royal Development project is being pursued in a “very holistic way” with the participation and support of residents, who must own the development. “We cannot displace the people who live in Port Royal; they must become a part of the development,” he said. “They must become defenders of [...]

Gov’t adds $8b to budget

By |2020-01-23T00:13:04+00:00January 23rd, 2020|news|

KINGSTON, Jamaica — The 2019/20 budget is being increased by approximately $8 billion, according to the supplementary estimates for the fiscal year. The estimates which were tabled by the Minister of Finance and the Public Service, Dr Nigel Clarke, in the House of Representatives today, showed no increase in public debt service, but a [...]

Managing flexibility Bank of Jamaica governor shares his thoughts on the teething pains of a modern foreign exchange market

By |2020-01-22T11:21:57+00:00January 22nd, 2020|news|

The Jamaica dollar closed 2019 at $132.57 versus the US dollar, an annual depreciation of 3.7 per cent. This year-over-year change in the exchange rate was moderate compared to annual depreciation of 2.1 per cent in the previous year and appreciation of 2.8 per cent in 2017. Since the implementation of BFXITT (Bank of [...]

STATIN reports continued decline in unemployment

By |2020-01-22T11:14:15+00:00January 22nd, 2020|news|

THE Statistical Institute of Jamaica (STATIN) in its latest labour force survey findings has indicated that the country's unemployment rate continues to trend downwards while female employment increases. The country's chief data processing entity, while presenting its review at a media briefing held at the Knutsford Court Hotel on Friday, noted that for October 2019 [...]

GraceKennedy, Musson partner to form health and life insurance company

By |2020-01-22T11:05:44+00:00January 22nd, 2020|news|

GraceKennedy and the Musson Group have partnered to enter the group health and life insurance market under the name Canopy Insurance Limited.  In a statement this afternoon, the company said it is ramping up preparations to begin operations in the second half of this year. The new venture recently received successful registration from the Financial Services [...]

Inflation rate reaches 6.2 % in 2019

By |2020-01-22T10:57:39+00:00January 22nd, 2020|news|

The All Jamaica Consumer Price Index recorded an inflation rate of 0.5 per cent in December 2019, resulting in the calendar year inflation rate of 6.2 per cent, according to the Consumer Price Index (CPI) Bulletin – December 2019. The Statistical Institute of Jamaica (STATIN), which released the figures through their bulletin informed that [...]

Government prioritising 20 per cent procurement spend for small businesses

By |2020-01-17T09:14:02+00:00January 17th, 2020|news|

KINGSTON, Jamaica — The Government says it is placing priority on ensuring that Jamaica's small businesses will benefit from 20 per cent share of the Government's procurement spend this year. Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries Floyd Green, who made the disclosure, noted that the process started late last [...]

New process for ‘Learner’s’ licence

By |2020-01-14T21:07:06+00:00January 14th, 2020|news|

As of January 25, 2020, the process to obtain a Provisional (Learner) Driver's Licence will change. Persons wishing to obtain a “Learner's Licence” will now first have to visit any of the Island Traffic Authority (ITA) Examination Depots to do the multiple choice Road Code Test, as part of the application process.   The new [...]

Sigma goes virtual

By |2020-01-14T21:03:08+00:00January 14th, 2020|news|

Shani McGraham-Shirley, patron of Sagicor Sigma Corporate Run addresses Editors and Reporters at Jamaica Observer's Monday Exchange at the newspaper's Beechwood Avenue office yesterday. Numerous individuals at home and abroad now have the opportunity to participate in the Sagicor SIGMA Corporate Run with the introduction of the 'My Sigma Virtual Run' for this year's 22nd [...]

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