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BARBADOS MUTUAL TO CONTROL ISLAND LIFE.

Barbados Mutual Life Assurance Society is to take controlling interest in the ailing Jamaican company Island Life, reports CANA (September 7, 1999). The transaction, supported by FINSAC (Jamaica's Financial Sector Adjustment Co., set up to restructure the problem-plagued financial sector) will provide Island Life with access to new capital. Barbados Mutual, which operates in 21 countries, earned profits of J$772 million (US$19.5 million) in 1998. It had assets worth J$36.5 billion (US$981.9 million) at the end of 1998 and capital of J$5.8 billion (US$156.02 million).
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Comment:BARBADOS MUTUAL TO CONTROL ISLAND LIFE.
Publication:Caribbean Update
Geographic Code:5JAMA
Date:Oct 1, 1999
Words:96
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