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""However, where this policy of high interest rates persists for any length of time, it must have a deleterious effect on the life insurance product. Unfortunately, for all concerned, this is exactly what took place in Jamaica during the 10-year period from 1989 to 1998," Parkes said.
"The fact that all these companies'went under' at the same time, must indicate that the cause must be due to something external to these companies."
He insisted that no one with knowledge of the economic conditions prevailing in Jamaica, during the 1990s, could "truthfully and honestly" conclude that the common factors in all the failed companies was incompetent management and failure to contain costs.
The life insurance industry, he said, had "almost single-handedly" supported the Government's divestment of its hotel stock from National Hotels and Properties.
"If the industry was being run in an incompetent and cavalier manner, how could it have contributed so significantly to the development of Jamaica for decades?" Parkes said"
http://jamaica-gleaner.com/gleaner/2...business8.html
Karl, Is liad him ah call yuh ?
Damn...
"The fact that all these companies'went under' at the same time, must indicate that the cause must be due to something external to these companies."
He insisted that no one with knowledge of the economic conditions prevailing in Jamaica, during the 1990s, could "truthfully and honestly" conclude that the common factors in all the failed companies was incompetent management and failure to contain costs.
The life insurance industry, he said, had "almost single-handedly" supported the Government's divestment of its hotel stock from National Hotels and Properties.
"If the industry was being run in an incompetent and cavalier manner, how could it have contributed so significantly to the development of Jamaica for decades?" Parkes said"
http://jamaica-gleaner.com/gleaner/2...business8.html
Karl, Is liad him ah call yuh ?
Damn...