Canopy Insurance Limited has made a yearly profit for the first time since it started operations.
The health and life insurance company made $39 million profit in the year ending December 2023 as part of its recovery from a loss of $189 million in the prior year.
The company, a joint venture between conglomerates GraceKennedy Limited and Musson Group, started booking revenue in 2018.
It is competing in a market led by Sagicor Life Jamaica Limited and Guardian Life Limited, respectively.
Canopy's revenue rose to $3.15 billion, reflecting an increase of 15 per cent.
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