May 28, 2026
General Accident Insurance Company Jamaica Limited (GENAC) has advised that it has issued shares as consideration to CGH Limited in keeping with the executed definitive agreements among GENAC, Musson (Jamaica) Limited and CGH Limited for the acquisition of the Beacon Insurance Company Limited (Beacon). The company has further advised that prior to the transaction, CGH Limited was the controlling shareholder of Beacon. Upon completion of the acquisition of Beacon by Musson and GENAC, GENAC will own 70% of Beacon.
GENAC has also advised that CGH has been issued 150,021,478 ordinary shares and 9,700 redeemable preference shares in the capital of GENAC. Aspects of GENAC’s acquisition of Beacon remain subject to the receipt of final regulatory approvals from Beacon’s regulators.
GENAC has further advised of the appointment of Mr. Christian Hadeed and Mr. Christopher Woodhams to the Board of Directors, effective May 19, 2026.
For further details, visit www.jamstockex.com
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