Caribbean Assurance Brokers has reported flat revenues for the financial year, totalling just over $538 million, a slight dip from the $542 million posted in the previous year.
The company faced a challenging period, recording a gross loss of nearly $101 million, compared to a gross profit of $124 million in 2023.
This significant reversal highlights pressures on the company's bottom line, despite a strategic focus on manpower growth through targeted recruitment, training and effective supervision.
Earnings per share also took a hit, moving from $0.47 per share last year to a loss of $0.38 per share for 2024, reflecting the overall decline in profitability.
Caribbean Assurance Brokers says it remains committed to long-term sustainable growth and development, despite the challenges faced in the last year.
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