GENAC explains new succession plan

 


Accident Insurance Company Jamaica Limited  which last week announced the appointment of Gregory St. Hugh Foster as Chief Executive Officer and Country Manager of its Jamaica operations outlines that he succeeds longtime executive Sharon Donaldson, who now assumes the full-time role of Group Chief Executive Officer.

 The transition, effective immediately, Management stated, is the result of “a carefully executed succession plan that signals the company’s continued commitment to strong leadership, growth and long term stability across the region.”

They outlined, “ Foster has been an integral member of the executive team since 2014, serving most recently as Chief Operating Officer. With over a decade of experience in the general insurance sector, he has led with distinction across core areas including finance, underwriting, claims, and operations. He is also the strategic lead for AutoSmart Insurance, GenAc’s motor insurance sub-brand.

“Sharon and Gregory have demonstrated the leadership required to execute our strategy and position General Accident for continued success,” said PB Scott, Chairman of General Accident.

“This transition reflects our deep confidence in their ability to guide the company into its next phase of growth.”

They stated “ Foster brings a deep understanding of the Jamaican insurance market, honed during his time as Chief Financial Officer before assuming the COO role in 2019. “

He is a Chartered Accountant and member of the Institute of Chartered Accountants of Jamaica, he previously worked at PricewaterhouseCoopers as an Audit Manager, overseeing audits in insurance, petroleum, and manufacturing sectors.

 “It is a privilege to take on the role of CEO and Country Manager at such an important juncture in General Accident’s growth story,” Foster said. “Together with our exceptional team, I am focused on expanding our market presence, enhancing service delivery, and creating long-term value for our stakeholders.”

 Sharon Donaldson, who has led General Accident for over two decades, Management said has been “central to the company’s regional expansion, delivering strong financial performance, strengthening underwriting capacity, and embedding sound corporate governance practices.” As Group CEO, Donaldson will now oversee the strategic direction of General Accident’s operations in Jamaica, Trinidad & Tobago, and Barbados.

 

 “I look forward to collaborating with Gregory and our regional teams as we continue to scale our operations and deliver innovative solutions to our customers across the Caribbean,” said Donaldson.

Source: Jamaica Stock Exchange

Photo by OPM: PB Scott Chairman of GENAC,

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