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Attention: Keep an eye on Motor One Insurance

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The_Honourable
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Attention: Keep an eye on Motor One Insurance

Postby The_Honourable » February 25th, 2018, 2:09 am

A whistleblower buss some files on Motor One Insurance (previously B&L Insurance). Ganga Singh read a letter that was addressed to Patrick Solomon, the Inspector of Financial Institutions, from Wayne Ian Lewis, the corporate secretary and a director at Motor One Insurance, alleging misconduct and improper corporate governance by the board and senior management.

Two of the company’s new advisors were major players in the Clico/HCU debacle, Carlton Reis and Harry Harnarine.

Skip to 1:23:57 (or click the link below and pay attention to Ganga Singh's contribution.

Click here: https://www.youtube.com/watch?v=wue-FGJ ... t=1h23m57s


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Redman
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Re: Attention: Keep an eye on Motor One Insurance

Postby Redman » February 25th, 2018, 6:23 am

It's about time....well done

Kenjo
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Re: Attention: Keep an eye on Motor One Insurance

Postby Kenjo » February 25th, 2018, 7:54 am

Lol motor one .... how is a notorious name like harry harnarine able to still be in these types of business ? I’m assuming he has qualifications but is there such a shortage of qualified persons ?

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Dizzy28
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Re: Attention: Keep an eye on Motor One Insurance

Postby Dizzy28 » February 25th, 2018, 9:30 am

Isn't Motor One a Kallco company?

Redman
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Re: Attention: Keep an eye on Motor One Insurance

Postby Redman » February 25th, 2018, 11:32 am

Correct....they Recently bought out the co.
Who is the MD?

pugboy
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Re: Attention: Keep an eye on Motor One Insurance

Postby pugboy » February 25th, 2018, 1:23 pm

I believe It was originally owned by duprey,
Himself, not part of clico

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*KRONIK*
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Re: Attention: Keep an eye on Motor One Insurance

Postby *KRONIK* » February 25th, 2018, 1:41 pm

I see a PDP mk4 supra by motor one.

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Re: Attention: Keep an eye on Motor One Insurance

Postby rspann » February 25th, 2018, 3:13 pm

Redman wrote:Correct....they Recently bought out the co.
Who is the MD?


Dino paid $4.5 m USD for 62%, in 2015 . Duprey was still in charge, Recently there was some court matter reported in the news where they wanted to give him back his money and keep the co. Reis is Duprey man of business ,so once he still there ,you know what's going on.

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Re: Attention: Keep an eye on Motor One Insurance

Postby Redman » February 25th, 2018, 3:36 pm

Yes you are correct....it seemed more recent in my mind.

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snatman
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Re: Attention: Keep an eye on Motor One Insurance

Postby snatman » September 17th, 2019, 4:13 pm

General Accident Insurance Company (JA) Limited (GENAC) – Disclosure re Acquisition of Motor One Insurance Company Limited

General Accident Insurance Company (JA) Limited has announced the acquisition of a majority stake in Motor One Insurance Company Limited, a Trinidadian motor insurance company headquartered in Port Spain with a large branch network throughout Trinidad.

https://www.jamstockex.com/general-acci ... y-limited/

pugboy
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Re: Attention: Keep an eye on Motor One Insurance

Postby pugboy » September 17th, 2019, 4:48 pm

They brave to acquire a company owing plenty other insurance companies as they are in the category of the capital type


snatman wrote:
General Accident Insurance Company (JA) Limited (GENAC) – Disclosure re Acquisition of Motor One Insurance Company Limited

General Accident Insurance Company (JA) Limited has announced the acquisition of a majority stake in Motor One Insurance Company Limited, a Trinidadian motor insurance company headquartered in Port Spain with a large branch network throughout Trinidad.

https://www.jamstockex.com/general-acci ... y-limited/

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crazybalhead
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Re: Attention: Keep an eye on Motor One Insurance

Postby crazybalhead » September 18th, 2019, 11:57 am

Yaaaaaayyy! Long live motor one. Excellent service over the years.

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MG Man
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Re: Attention: Keep an eye on Motor One Insurance

Postby MG Man » September 18th, 2019, 12:07 pm

had all my vehicles insured with them at one point
Found a broker and almost everything moved to Nagico now...3rd party for everything so I really dgaf about who the insurer is....all I need is insurance so I can drive my cars

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Re: Attention: Keep an eye on Motor One Insurance

Postby pugboy » September 18th, 2019, 12:18 pm

Dupree getting some extra pocket change

Redman
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Re: Attention: Keep an eye on Motor One Insurance

Postby Redman » September 19th, 2019, 12:44 pm

pugboy wrote:They brave to acquire a company owing plenty other insurance companies as they are in the category of the capital type


snatman wrote:
General Accident Insurance Company (JA) Limited (GENAC) – Disclosure re Acquisition of Motor One Insurance Company Limited

General Accident Insurance Company (JA) Limited has announced the acquisition of a majority stake in Motor One Insurance Company Limited, a Trinidadian motor insurance company headquartered in Port Spain with a large branch network throughout Trinidad.

https://www.jamstockex.com/general-acci ... y-limited/

NOT NECESSARILY.

With the right approach to CBTT you can quickly clean it up, expand the lines.
With the expanded lines- you get re insurance from outside.
Set up your own company to pass the re insurance through-you can export USD as CBTT gives re insurance fees etc high priority.

So you end up with a high margin business, with a way to export hard currency.

The Jamaicans have been hunting here for Gen Insurance cos for a while.

Bankers,Colfire, MotorOne, India,Goodwill all were on the blocks-with exception of Colfire-they were in Capital ' class.

That said any insurance co that is in that class is likely to be spinning off a ton of cash.
That model is a good business model-to make money-not keep clients happy.

After all General Insurance is required by law,in some instances-and mandatory for financing in others, and good business practice in the rest.....There is a reason that TnT is 40% larger than JA.

The next best thing to cocaine and sliced bread.

pugboy
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Re: Attention: Keep an eye on Motor One Insurance

Postby pugboy » September 19th, 2019, 1:52 pm

There is also a reason why them uppercase companies have cheap insurance eh

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