Cameron takes over as chairman at Key Insurance

With the retirement of Don Wehby on February 14, 2025, attorney-at-law and businesswoman Rochelle Cameron was appointed to take over the position of chairman at Key Insurance coverage Firm Restricted, efficient instantly.

In a discover posted to the Jamaica Inventory Alternate (JSE), firm secretary for Key Insurance coverage Kerry-Ann Heavens welcomed Cameron to the brand new position whereas commending Wehby for his distinctive management in the course of the time he served as chairman with the overall insurer.

“The Board needs to precise its profound appreciation to Mr Wehby for his distinctive management, strategic steerage, and unwavering dedication to the corporate. His imaginative and prescient and contributions have been instrumental in driving the corporate’s progress and success over the previous years.

“The Board additionally welcomes Ms Cameron to her new position and appears ahead to her management in guiding the corporate’s continued progress,” the discover said.

Wehby, who made the private resolution to step again from company life in late 2024 for health-related causes, served as the corporate’s chairman since 2020 following the acquisition of majority shareholding by the GK Group for which he was the CEO. The corporate’s administration, headed by Basic Supervisor Tammara Glaves-Hucey, in a separate thanks be aware, lauded the previous chairman for his legacy and the lasting impression he has made on Key Insurance coverage and the monetary sector.

“As we shut this chapter, we prolong our heartfelt gratitude to Mr Don Wehby for 5 years of outstanding management as chairman of Key Insurance coverage Restricted. His imaginative and prescient, knowledge and steadfast assist have formed our success and impressed our crew, past boardroom choices, Mr Wehy has been a pillar of energy — main with integrity, ardour and excellence,” the famous learn.

Getting into some massive sneakers, Cameron, who involves the position armed with over twenty years of management expertise, is thought to be an influential enterprise strategist. She is predicted to additional information the corporate in its continued turnaround, particularly at this juncture when it appears to be like to embark on the subsequent chapter of progress.

Key Insurance coverage, as soon as suffering from a collection of economic woes, has because the time of its acquisition by the GK Group launched into a formidable turnaround technique geared toward driving profitability and sustained long-term progress for the over-40-year-old firm. Having managed to ship on this goal in a brief span of time, the corporate now comfortably continues to ship elevated worth for shareholders.

As much as the tip of the nine-month interval ended September 30, 2024, income for the corporate stood at $2.3 billion, virtually 15 per cent above that of the identical interval for the earlier yr. The expansion, pushed primarily by regular premium positive factors within the motor portfolio, accounted for roughly 65 per cent of whole insurance coverage income. Internet revenue for the interval additionally climbed $24.2 per cent to whole $50.2 million.

“Regardless of a difficult financial local weather — with elevated motor claims, falling rates of interest, and an energetic hurricane season, our Q3 [quarter three] efficiency underscores the Firm’s resilience and powerful progress potential. We’re positioned to face market challenges head-on with steady assessments of our motor and non-motor portfolios to establish alternatives for optimising operational effectivity and growing profitability,” the corporate’s director stated within the interim report back to shareholders.

“KEY continues to position excessive significance on managing dangers, figuring out progress alternatives, enhancing the shoppers’ expertise, whereas staying attuned to market tendencies. Our precedence is to ship shareholder worth and foster sustainable progress that advantages all stakeholders,” they additional famous.