GENAC appoints Gregory Foster as new country manager


General Accident Insurance Company Jamaica Limited has announced the appointment of Gregory Foster to the position of Country Manager Jamaica, effective May 1, 2025.

Foster has held several senior leadership roles within the company, most recently serving as Chief Operating Officer

Management stated, “He brings to this position a wealth of experience, deep industry knowledge and a track record of effective leadership.  We are confident that under his guidance, the company will continue to advance its strategic objectives and deliver strong performance.”

 Foster continues to serve as a director of General Accident Insurance Company Jamaica Limited.

Meanwhile GENAC’s CFO Stuart Andrade officially demitted office effective April 30, 2025. 

 General Accident Insurance Co. Ja. Ltd. (GENAC) for the twelve months ended December 31, 2024, reported a 33 per cent increase in insurance revenue totaling $11.43 billion compared to $8.58 billion in the corresponding period last year. Insurance revenue for the fourth quarter had an 81 cent increase to close at $3.14 billion compared to $1.73 billion for the comparable quarter of 2023.

Profit before taxation for the twelve months ended December 31, 2024, amounted to $299.67 million, a 60 per cent decrease relative to $740.50 million reported in 2023. Profit before taxation for the fourth quarter amounted to $95.85 million (2023: $519.07 million).

Total comprehensive income for the period totaled $437.08 million, relative to the $546.38 million reported twelve prior.

Earnings Per Share for the twelve months amounted to $0.23 (2023: EPS: $0.52), while Earnings Per Share for the quarter totaled $0.03 (2023: EPS: $0.28). The number of shares used in these calculations was 1,031,250,000.

-Information Source Jamaica Stock Exchange.

Photograph. Gregory Foster. Linkedin photo.

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