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.

JSSE pioneer 5 targeting $90m in project funding

By |2019-02-21T12:27:14+00:00February 21st, 2019|news|

Five non-profits aiming to raise a combined $90 million as a precursor to listing their projects on the Jamaica Social Stock Exchange, the JSSE, have amassed 15 per cent of the target on the first day of the launch of the pledging website on Monday. Members of the public can pledge funds to any of [...]

Minister: Petrojam’s value dropped by almost US$100 million in 12 years

By |2019-02-21T12:22:07+00:00February 21st, 2019|news|

The market value of Jamaica's sole oil refinery Petrojam has dropped by nearly US$100 million in the past 12 years, newly appointed Energy Minister Fayval Williams has revealed. According to Williams, a valuation conducted in 2006 by an international firm using globally accepted standards placed the value of the 55 year-old refinery at US$126 million. That was the same year [...]

Insurance hazard – Study finds most motorists driving without coverage

By |2019-02-20T00:07:25+00:00February 20th, 2019|news|

More than half the vehicles in Jamaica are uninsured, a statistic that is of huge concern to road-safety officials and one which the police consider “frightening”. A study conducted by the Jamaica National Group, based on data culled from Tax Administration Jamaica and the Insurance Association of Jamaica (IAJ), shows that up to 57 per [...]

Jamaican entrepreneurs featured in Forbes magazine

By |2019-02-20T00:04:00+00:00February 20th, 2019|news|

Some Jamaican entrepreneurs, leaders and personalities involved in the island's sustainability and renewable energy movement were recently featured in the internationally renowned business magazine, Forbes. The coverage came in the form of two articles entitled “Make Jamaica Green Again: 10 Powerful Women Leading The Sustainability Movement” and “6 Renewable Energy Entrepreneurs Lighting Up Jamaica”. The [...]

Independent BOJ expected to modernise bank oversight

By |2019-02-19T08:55:22+00:00February 19th, 2019|news|

The modernisation of Jamaica’s central bank will see the Government pumping around $26 billion of fresh capital into the Bank of Jamaica, BOJ, as it transitions to independence. Side by side with its recapitalisation, says Finance Minister Nigel Clarke, the BOJ will be moving to incentivise interbank activity and trading, so that demand for [...]


By |2019-02-19T08:53:07+00:00February 19th, 2019|news|

After much planning, organisers of the 21st staging of the Sagicor Sigma Corporate Run can turn to celebration having surpassed their targets for the number of participants and donations yesterday. The annual event, dubbed the Caribbean's largest road race, continued to lift its standard with a record-breaking turnout of 27,028 participants and $52.4 million raised [...]

Yaneek Page | Keeping consumer data private

By |2019-02-19T08:46:32+00:00February 19th, 2019|news|

ADVISORY COLUMN: BUSINESSWISE The Businesswise column titled “Bank Customer Feels Naked and Exposed” published February 3, 2019, triggered a flood of responses from members or the public who fear being stripped of their right to privacy by the catch-all nature of the Bank of Jamaica’s anti-money laundering and anti-terrorism regulatory guidelines. Here are just eight [...]

Cedric Stephens | Elevating the insurance consumer

By |2019-02-19T08:43:19+00:00February 19th, 2019|news|

ADVISORY COLUMN: INSURANCE HELPLINE The staff in the Financial Services Commission’s insurance division and its leaders earned applause last week. They have started a process to modernise the ways in which the $107 billion insurance industry that they regulate transacts business with consumers. The changes, which were predicted in my column ‘Finally, Insurance Reform with [...]

IronRock misses targets but optimistic after turnaround in 2018

By |2019-02-19T08:39:25+00:00February 19th, 2019|news|

For the financial year ending December 2018, IronRock Insurance – the newest entrant in a market of nine operating companies – generated a profit of $811,000. By itself that number would be unimpressive. But within its proper context – it marks a turnaround of a large loss of nearly $48 million the year before – [...]

NCB faces yet another hurdle in Guardian takeover bid

By |2019-02-19T08:36:01+00:00February 19th, 2019|news|

NCB Financial Group has been forced to extend the closing deadline for its takeover of Guardian Holdings Limited (GHL) because it still has hurdles to clear. Jamaica’s largest banking group needs approvals from Trinidad & Tobago’s Ministry of Finance under the Foreign Investment Act, Insurance Act, and Financial Institutions Act of T&T, without which it [...]

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