SAGICOR LIFE JAMAICA BUYS LOCAL GROUP HEALTH PORTFOLIO

Sagicor Life Jamaica, formerly Life of Jamaica, has agreed to buy the group health insurance portfolio of Blue Cross Jamaica, potentially ending a battle between the two companies for the management of the JMD2.5bnbn ($34.8m) Government Employees Administrative Services Only (GEASO) Health Insurance Scheme, reports the Jamaica Observer . Blue Cross, which manages JMD2.57bn in premiums under GEASO and JMD1.86bn in commercial premiums, managed the Jamaica health scheme from the mid 1980s to last year, at which point the scheme was put to tender. The Jamaican government appeared set to award the contract to Life of Jamaica, despite a recommendation from an actuary that the scheme stay with Blue Cross. Various controversies led the Government to re-open the tender process.