Rochelle Cameron replaces Don Wehby as Chairman at Key Insurance





Key Insurance Company Limited, a subsidiary of the GraceKennedy group indicates that Don Wehby has retired from his position as a director of the Company, effective February 14, 2025. 
Attorney at Law Rochelle Cameron is replacing him as Chairman of the Board of Directors, effective immediately.

Key stated, “The Board wishes to express its profound appreciation to Mr. Wehby for his exceptional leadership, strategic guidance, and unwavering commitment to the Company. His vision and contributions have been instrumental in driving the Company's growth and success over the past years. The Board welcomes Ms. Cameron to her new role and looks forward to her leadership in guiding the Company's continued growth.”

Key Insurance Company was incorporated in 1982. It became a subsidiary of the GraceKennedy Group in 2020, sinch which time the company has reversed a loss making position.

The general insurance company operates in motor and non-motor segments offering commercial, property, casualty, liability, engineering and personal insurance products.

Rochelle Cameron is an Attorney-at-Law and the founder and CEO of Prescient Consulting Services Limited, where she leads a team offering tailored guidance in Business Strategy, Leadership Development, and Team Engagement.

Her professional journey spans 25 years at the Jamaican Bar, with public and private sector experience. Her leadership roles include serving as Crown Counsel with the Office of the Director of Public Prosecutions in Jamaica and Vice President of Legal and Regulatory at Cable & Wireless Communications. Cameron holds an MBA in International Business and has served as a lecturer

Key Insurance for the for the quarter ended 30 September 2024 achieved an 18 per cent increase in revenue compared to the corresponding period in 2023.

For the nine months ended September, the revenue increase was $293.2 million, or 15 up, compared to the same period in 2023.

Growth was driven primarily by steady premium gains in the motor portfolio, which accounted for 65 per cent of the total insurance revenue. Additionally, profit before tax rose by 24 per cent, from $60.5 million to $75.1 million, over the corresponding period in 2023.

Insurance service expenses increased by 20 per cent in the quarter ended 30 September 2024 and 18 per cent in the nine-month period ended 30 September 2024 when compared to the respective prior year corresponding periods.

Management noted that although core expenses remain carefully managed, a rise in both the frequency and severity of motor vehicle accidents led to a $177 million or 22 per cent increase in claim expenses, for the nine months ending September 30, 2024, compared to the corresponding period in 2023.

They said that Key’s continued focus on its investment portfolio resulted in a 24 per cent increase in investment income over the prior year nine-month period.

Photo: Rochelle Cameron

Caribbean Money Daily

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