Guardian Holdings Ltd has demonstrated sustained growth in its third quarter, posting a profit of $237 million attributable to equity shareholders for the period ending September 30. This marks a significant 20% increase, or $40 million, compared to the $197 million reported in the same period last year. The company’s consolidated financial statements attribute this growth to the expansion of its core insurance operations across English-speaking Caribbean nations, the Dutch Caribbean, and the Netherlands. Chairman Robert Almeida emphasized the group’s commitment to sustainable, long-term value creation, supported by operational efficiencies, disciplined cost management, and favorable market conditions. Key achievements during the quarter included a robust performance ratio, a substantial rise in earnings per share from $2.58 to $5.52, and a 28% increase in return on equity. Additionally, Guardian Holdings successfully refinanced its $1.02 billion bond by issuing a $1.05 billion secured multi-tranche bond. On October 3, credit rating agency CariCRIS reaffirmed the group’s ratings of CariAA- on the regional scale and jmAAA on the Jamaican national scale, maintaining a stable outlook. Almeida also highlighted the group’s strong capitalization and regulatory compliance. Insurance revenue for the quarter grew by $109 million, reaching $1,588 million, while other operating expenses increased by $37 million to $244 million. The board proposed a third quarterly dividend of 23 cents per share, bringing the year-to-date total to 66 cents per share, a 43-cent increase over the previous year. For the nine months ending September 30, the group reported a profit of $1,281 million, a 114% increase from the prior year, driven largely by the sale of Thoma Exploitatie BV in January. Excluding discontinued operations, the group’s profit from continuing operations stood at $630 million, a 7% increase over the previous year. Almeida noted that the core insurance operations remain robust, with insurance service results outperforming the prior year by $207 million or 34%.
分类： business
-
Wam partners with Visa, NPICTT
WamNow Technologies Ltd., a pioneering force in Trinidad and Tobago’s digital finance landscape, has unveiled groundbreaking partnerships with global payment giant Visa and the National Payment and Innovation Company of TT (NPICTT). These collaborations, announced at Wam’s official launch on October 16 at Worx Coworking Space in Port of Spain, are set to redefine the digital payment experience for citizens and businesses across the Caribbean nation.
-
Recovery in progress
In the aftermath of Hurricane Melissa, Jamaica’s financial infrastructure is gradually coming back online, though significant challenges remain. Edmundo Jenez, CEO of JETS Limited, provided a detailed update on the status of the Multilink and Automated Clearing House (ACH) networks, which are critical for domestic financial transactions. While the core systems were restored by Wednesday morning, widespread power outages and acts of vandalism are severely hampering the recovery process. Jenez explained that the financial networks were shut down preemptively to avoid damage from the hurricane. Although the primary switches in Kingston are operational, only 45% of Automated Banking Machines (ABMs) and less than 14% of Point-of-Sale (POS) terminals are currently functional. Transaction volumes have plummeted, with Thursday’s expected $2 billion in transactions reduced to just $600-$700 million. Jenez emphasized that without restored power and telecommunications, the pace of recovery will remain sluggish. He also expressed frustration over vandalism incidents, including damaged ABM screens and attempted thefts, which further complicate efforts to restore normalcy. Despite these setbacks, JETS remains committed to supporting Jamaica’s economic recovery.
-
Lifespan Water production affected by Melissa
KINGSTON, Jamaica — Lifespan Company Limited, the renowned producer of Lifespan Spring Water, has announced revised production schedules in the aftermath of Hurricane Melissa, which caused significant damage to several of its facilities. The company revealed that its primary plant is currently operating at reduced capacity due to power outages and limited communication channels. Similar challenges are being faced at its Montego Bay location, while the Kingston facility remains operational but with restricted communication capabilities.
-
Carib Cement resumes dispatch operations following Hurricane Melissa
KINGSTON, Jamaica — Caribbean Cement Company Limited (Carib Cement) has successfully resumed cement dispatch operations at its Rockfort plant following the aftermath of Hurricane Melissa. The company announced on Friday that comprehensive safety inspections and restoration efforts were conducted to ensure the facility’s structural integrity and operational readiness.
-
Condos at The Beach Club, Barbuda Start at $7 Million as Luxury Sales Launch
The Beach Club, Barbuda, has unveiled its exclusive collection of ultra-luxury beachfront residences, with prices ranging from US$7 million for The Beach Club Villas to US$15 million for The Beach Club Estates. The Nobu Beach Inn Residences, fully serviced by the Nobu Beach Inn, start at US$12 million. Spanning 400 acres of pristine coastline, this ambitious project is the brainchild of founders Robert De Niro, Daniel Shamoon, and James Packer. Central to the development is the Nobu Beach Inn resort, expected to be completed by late 2026, which will offer private homes, villas, and estates designed to blend world-class hospitality with a nature-first, low-impact approach. Managing Partner Daniel Shamoon described the resort as ‘a discreet, low-key destination where world-class hospitality subtly meets the ease of Caribbean living,’ promising buyers and guests a ‘true toes-in-the-sand, barefoot luxury experience.’ The development features three residential options: the Nobu Beach Inn Residences, comprising 25 serviced beachfront homes ranging from 5,000 to 6,000 sq. ft.; The Beach Club Villas, offering 23 one-acre beachfront lots with flexible layouts; and The Beach Club Estates, consisting of seven six-acre plots with up to 480 ft. of shoreline. Amenities include the Nobu Barbuda restaurant, an omakase sushi bar, an oceanfront pool, a spa, and tennis courts. Sustainability is a key focus, with the resort utilizing renewable energy, an on-site farm, and employing local Barbudans. Located on Barbuda’s southwest coast, The Beach Club is conveniently accessible via the new Burton Nibbs International Airport, with private jet and inter-island connections from Antigua just 10 minutes away.
-
Visitor arrivals, cruise traffic boost foreign exchange earnings
The Barbados economy demonstrated robust growth in the first nine months of 2025, expanding by 2.7%, as reported by the Central Bank on Wednesday. This growth was fueled by significant contributions from tourism, agriculture, construction, and business services, while unemployment reached a historic low of 6.1%. Central Bank Governor Dr. Kevin Greenidge highlighted these achievements during a press conference at the Courtney Blackman Grande Salle, emphasizing the resilience of the economy despite global trade tensions and slowing growth in advanced economies. Key sectors such as tourism and agriculture drove real GDP growth, while construction and business services bolstered the non-traded sector. Inflation remained subdued, with a 12-month moving average of 0.5% by August, as import costs declined. The external position of the country remained strong, supported by robust tourism receipts and increased long-term financing. International reserves stood at $3.3 billion at the end of September, offsetting a wider merchandise deficit. Fiscal performance also improved, with a primary surplus of $574.1 million (3.8% of GDP) and a fiscal surplus of $227.1 million (1.5% of GDP). The debt-to-GDP ratio decreased by 2.9 percentage points to 100.1%. Tourism played a pivotal role, with long-stay arrivals rising by 5.5% to 537,897, driven by increased airlift and marketing campaigns. The United States led visitor growth, contributing 36% of arrivals, while Europe and CARICOM markets also saw significant increases. Cruise arrivals surged by 31.5%, reflecting higher vessel occupancy rates. The labor market saw continued improvement, with unemployment hitting a record low of 6.1% in June, marking the fifth consecutive quarterly decline. Sectors such as agriculture, utilities, tourism, and construction drove job creation, while jobless claims remained below historical averages. The Central Bank’s report underscores the broad-based economic recovery and the pivotal role of tourism in sustaining growth and employment.
-
Globally Recognised CBI/CIP Expert to Deliver
The Eastern Caribbean Central Bank (ECCB) is set to host its 27th Sir Arthur Lewis Memorial Lecture on Wednesday, November 5, at 6:00 p.m. in the Sir Cecil Jacobs Auditorium, located on the ECCB Campus in Saint Christopher and Nevis. This year’s lecture will be delivered by Dr. Kristin Surak, a renowned expert on citizenship by investment (CBI/CIP) and Associate Professor in Sociology at the London School of Economics and Political Science. The event will focus on the theme, ‘Development by Design: Leveraging Citizenship for Economic Resilience in Small Island Developing States.’
Dr. Surak, author of the influential book *The Golden Passport: Global Mobility for Millionaires*, has established herself as a leading authority on how nations generate revenue through citizenship programs, how affluent individuals utilize these programs to enhance global mobility, and the broader implications for development, inequality, and economic resilience. Her insights are particularly relevant to the Eastern Caribbean Currency Union, where CBI/CIP programs are integral to financing economic transformation and fostering resilience.
The lecture series commemorates the legacy of Sir Arthur Lewis, a Nobel Laureate whose groundbreaking work in development economics continues to inspire strategies for resilience in small states. Dr. Surak’s presentation aligns with this vision, offering timely perspectives on the role of citizenship investment in economic sustainability.
The event coincides with the ECCB’s initiative to establish the Eastern Caribbean Citizenship by Investment Regulatory Authority, aimed at enhancing governance, transparency, and long-term sustainability of CBI/CIP programs across the region. The lecture will be livestreamed on ECCB Connects’ YouTube channel, making it accessible to a global audience.
-
Government launches “RD-Trabaja” with 7,000 job opportunities for Dominicans
Santo Domingo witnessed a significant economic development this Thursday as President Luis Abinader unveiled the ‘RD-Trabaja’ program alongside the expansive job fair titled ‘Tu empleo está aquí’ (Your Job Is Here). The initiative, designed to fortify the national economy through quality employment, features 66 companies offering 7,012 formal job positions across the Dominican Republic. President Abinader underscored the program’s importance, citing both local and foreign investments as indicators of a robust labor market. Notably, the Mexican company Moon Palace is set to create 3,500 jobs, further validating the growing confidence in the country’s economic prospects. The president also revealed plans to extend the program beyond Santo Domingo, with two new industrial buildings slated for inauguration in San Juan’s Free Trade Zone, promising immediate employment opportunities. The Ministry of Labor and INFOTEP have played pivotal roles in bridging the gap between job seekers and employers, offering technical training to streamline the hiring process. The job fair, held at the UNICARIBE Convention Center on the 30 de Mayo Highway, operates from 9:00 a.m. to 5:00 p.m., showcasing vacancies in the hotel, industrial, and service sectors.
-
Puerto Plata to welcome 62 cruise ships in November
Puerto Plata is gearing up for a bustling November as the Ministry of Tourism (MITUR) announced the arrival of 62 cruise ships to the region. Among these, 39 vessels will dock at the state-of-the-art Taino Bay port, while 23 will anchor at Amber Cove. This surge in maritime traffic aligns with the Dominican Republic’s national strategy to bolster cruise tourism and solidify its reputation as a premier Caribbean destination. Tourism Minister David Collado highlighted the significance of this development, underscoring the country’s commitment to enhancing its tourism sector. Atahualpa Paulino, MITUR’s regional director for the north, emphasized the economic ripple effects of these arrivals. He noted that the influx will invigorate the local economy, creating opportunities for workers, entrepreneurs, and service providers across Puerto Plata. Paulino described November as one of the busiest months for the country’s tourist ports, attributing the surge to the confidence international cruise lines have in the region’s tourism management. With its cutting-edge port infrastructure, seamless institutional coordination, and a growing array of attractions, Puerto Plata continues to cement its status as one of the Caribbean’s most sought-after cruise destinations.