General Accident Insurance Company has announced a landmark acquisition that will reshape the regional insurance landscape.
The company's parent, Musson Jamaica, has purchased 100% of Beacon Insurance Company, effective October 31.
Beacon will now become a subsidiary of General Accident, pending final regulatory approvals.
This move significantly expands General Accident's footprint beyond Jamaica, strengthening its presence in Trinidad and Tobago as well as Barbados, while opening doors to new markets in Dominica, Grenada, St. Kitts, and Lucia, and St. Vincent and the Grenadines.
With this acquisition, General Accident's gross written premiums are projected to exceed $32 billion annually.
Both brands, Beacon and General Accident, will continue to operate in Trinidad and Barbados, preserving their strong market identities.
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