Insurer sees net income rise nearly 15% in third quarter – Eye Witness News
NASSAU, BAHAMAS — A BISX-listed insurance group has identified the absence of any severe weather disruption as a key factor driving positive results in the third quarter, which saw the company’s net profit increase nearly 15% .
Alister I. McKellar, CEO of JS Johnson, made the revelation in his third quarter interim report.
He said: “The lack of severe weather disruption to day-to-day life was positively reflected in our finances for the quarter. Net profit through September increased 14.54% from $6.054 million to $6.935 million, compared to the same period last year, while other important financial indicators such as claims (decreased by more than 30%) and earnings per share (increased by 11%, $0.72 to $0.80) indicate strong and stable business activity.
McKellar added: “As a country, we also appear to be finally overcoming the Covid restrictions that have made face-to-face interaction with customers so difficult for the past two years. The government canceled all testing requirements for visitors to our shores, vaccinated or not, in September. And when it became clear that our local mask mandate was also out of step with the practices of nearly all of our international tourism partners, the government finally lifted that too on October 1.
McKeller noted that one of the lasting effects of Covid has been the advancement of the company’s online presence and its ability to provide customers with more options in this area.
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