KINGSTON, Jamaica, Friday March 15, 2019 – Massy United Insurance Limited has officially entered the general insurance market in Jamaica.
Already operating in 18 other islands in the English and Dutch-speaking Caribbean, Massy United Insurance officially opened its Jamaica branch this week.
And Finance Minister Dr Nigel Clarke welcomed its entry to the local general insurance market, saying it will offer new competition that will ensure customers receive the best prices, terms and savings.
“Competition is good for Jamaica. So, we welcome Massy United Insurance to Jamaica for virtue of the competition that they will contribute to,” he said, adding that the expansion of the company into Jamaica is a testament to the fact that the country is moving in the right direction.
“When an organization like the Massy Group, that has opportunity to invest anywhere they want in over 19 markets…and they choose to set up operations in the insurance business, which is a business that takes on risk…it tells you that they, like us [in Jamaica], smell opportunity.”
Chief Executive Officer at Massy United Insurance, Randy Graham, said the Massy Group wanted to provide security for Jamaicans.
“Our decision to introduce insurance in Jamaica has come at a time when natural disasters are becoming more unpredictable and insurance is so necessary and critical,” he said.
The Massy Group is no stranger to Jamaica, as three of its subsidiaries – Massy Gas, Massy Distribution and Massy Technologies – currently operate in the island.
Its last acquisition in Jamaica was in 2006, when it bought the cooking gas assets of Shell, known as Gaspro, and created Massy Gas Products.