General Accident Insurance advises that it has successfully applied for graduation of its listed ordinary shares from the Junior Market to the Main Market of the Jamaica Stock Exchange, which will take place effective September 27,
General Accident spreading wings
According to the company, since being listed on the Junior Market over ten years ago, the Company has grown its gross written premium almost seven-fold. In addition to its market leadership in Jamaica, the Company has established a regional presence in Barbados and Trinidad. The Directors of General Accident believe the successful application reflects its growth, increasing scope and ability to comply with the applicable governance standards for companies listed on the Main Market.
The company with more than $15 billion in annual premium income reported a profit of $577 million last year and $246 million for the six months to June this year up from just $41 million for the same period in 2022. ICInsider.com projected profit of more than $1 billion for 2023.
The move follows Eppley another member of the Musson Group that migrated from the Junior Market in December 2018.
