Beacon Insurance Company has been acquired by Jamaica’s General Accident Insurance Company, through its parent company Musson Jamaica.
The Jamaica Observer reported that despite the acquisition, Beacon will continue to operate independently and maintain its brand in Trinidad and Barbados.
Founder Gerald Hadeed expressed confidence in the move, adding that he was pleased to be associated with the creation of the regional insurance company.
The Hadeed family is set to become minority shareholders in General Accident.
Attempts by 103.1FM News to reach Mr Hadeed for a comment were unsuccessful.
