KINGSTON, Jamaica — President of the Private Sector Organisation of Jamaica (PSOJ), Metry Seaga, says there is a need for strong structure, stability and smart, strategic investments in the Jamaican people.

Seaga, who was speaking at the launch of the Marathon Insurance Brokers’ (MIB) new Life Division on Wednesday, said that businesses in Jamaica need more than optimism in order to experience real growth.

He went further to point out that insurance plays a vital part in the growth equation and that the new Life Division is a statement of assurance and commitment to the Jamaican workforce.

“Without access to reliable health insurance, a single illness can wipe out a family’s savings. Without life insurance, a tragic event can plunge a household into poverty. And without employee benefits, talented individuals may look abroad for better opportunities,” he said.

Chairman of the Marathon board of directors, Richard Burgher, said that the opening of the new division is a testament to MIB’s ongoing evolution and commitment to delivering a full range of insurance
solutions to the Jamaican market.

With sights set on expanding the services to other countries in the Caribbean, Burgher said the firm will leverage its strong technological and e-commerce presence to position itself competitively across the region.

“The recently announced shifts in United States trade dynamics has rocked businesses across the region, indeed, the world has not experienced this type of tectonic economic shift since Brettonwoods… In every crisis, there are opportunities, and it’s our job as business leaders to find and deliver those opportunities. It is with this in mind that we remain confident in our growth strategy, and I can say with some confidence that our planned IPO (initial public offering) for next year remains on track. We continue to believe that with our strong fundamentals and the talented team we have in place, Marathon is well-positioned to offer investors an exciting opportunity for growth and expansion,” Burgher said.

Meanwhile, President and Chief Executive Officer of Marathon, Levar Smith, said the launch of the new unit marks a major step in the firm’s determination to give clients full access to critical financial information, support and the best options in responding to their economic, employment benefits and health challenges.

“Marathon remains on the cutting edge of the insurance industry, and our mission is to stay ahead of the curve, providing full coverage of your life, health and assets. Our commitment is to develop viable and affordable solutions for the broadest spectrum of situations even before they arise,” Smith said.