JN General Insurance more than doubled profit for the year to December 2014 with after tax profit hitting $566 million, a 95 percent increase over the $291 million reported for 2013.
The impressive increase came from a mere 8.6 percent increase in premium income amounting to $3.59 billion which helped in leading to an underwriting profit of $160 million compared to a loss of $149 million in 2013. Investment income contributed $471 million to the bottom-line and foreign exchange gains $83 million. The company donated $10.4 million to the JNBS Foundation during the year up from $9.7 million in 2013.
The company which is a subsidiary of Jamaica National Building Society boast assets of $8.5 billion and equity of $3.97 billion at the end of 2014.