IronRock Insurance Company is reporting record revenue growth for 2025, despite recording a loss following the impact of Hurricane Melissa.
The insurer says insurance revenue reached $2.14 billion, a 22 per cent increase over last year.
However, the company posted a net loss of $12.5 million, as claims linked to Hurricane Melissa weighed heavily on its financial performance.
Chairman W. David McConnell says the October hurricane — described as the most severe storm in Jamaica's history — generated significant claims activity and placed major pressure on the company's operations and reinsurance programmes.
IronRock notes that its core underwriting performance remained sound reflecting disciplined risk selection and pricing.
During the year, IronRock also relocated to a new headquarters and expanded its use of technology, including early adoption of artificial intelligence to improve efficiency and customer service.
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