Jan 2007 Financial News

Mega Insurance to list on stock market

Jan 10, 2007

MEGA INSURANCE COMPANY LTD is determined to become listed on the T&T Stock Exchange at the earliest opportunity, its president and chief executive officer reaffirmed yesterday.

Addressing a function to launch Mega Insurance’s 2007 hanging calendar, Reflections, Albert Tom Yew said 2006 was a very successful year for the company, noting that there had been increases in all areas of business. He told guests that persistency was higher 94 per cent, one of the highest ratios in the local insurance industry, annualised premiums were continuing to show “phenomenal increases,” topping the $40 million mark in 2006, and its equity base had shown “robust increases” over the last five years.

In an interview, he later said the company intended to be listed on the Second Tier market of the Stock Exchange.

In an address, Minister of Public Utilities and the Environment Pennelope Beckles spoke about the importance of recycling as one way of reducing the amount of waste which reaches the nation’s landfills and dumps.

She said each person generates four pounds of waste each day and the quantity of waste to be disposed of is increasing because of lifestyle changes and population growth. However, she said as much of 98 per cent of the waste at landfills can be recycled. “Too much of our garbage ends up in rivers, empty lots, on beaches and the like!” the minister said.

On the subject of the landfills, Beckles said tenders for the shutdown of the Beetham dump are being evaluated and she hopes to announce the successful bidder within the next month or two.


Source:
The Trinidad Guardian
Wednesday 10th January, 2006

http://www.guardian.co.tt/business2.html