In a landmark move set to reshape the Caribbean insurance landscape, General Accident Insurance Company (Jamaica) Limited (JSE:GENAC) and Beacon Insurance Company Limited have announced their intention to merge, creating a dominant regional insurer. The transaction, finalized on October 31, 2025, sees General Accident’s parent company, Musson (Jamaica) Limited, acquiring 100% of Beacon. Pending regulatory approvals, Beacon will operate as a subsidiary of General Accident, maintaining its independent brand and leadership structure. This strategic acquisition significantly expands General Accident’s footprint, granting access to new markets in Dominica, Grenada, St Kitts, St Lucia, and St Vincent, while bolstering its presence in Trinidad and Barbados. The combined entity is projected to generate annual gross written premiums exceeding J$32 billion. Beacon’s CEO, Christopher Woodhams, will report directly to Sharon Donaldson, Group CEO of General Accident, and will oversee the merged operations in Trinidad. Additionally, Woodhams and Beacon director Christian Hadeed will join General Accident’s board. The Hadeed family, now minority shareholders in General Accident, expressed confidence in the merger’s potential to uphold Beacon’s legacy of excellence. Gerald Hadeed, Beacon’s founder, praised the alignment of values between the two companies, emphasizing their shared commitment to client service and innovation. General Accident Chairman P B Scott lauded Beacon’s management and expressed excitement about the merger’s ability to enhance service delivery across the Caribbean.