First Life – Joint venture with LOJ

Posted: July 17, 2002 at 12:00 am

The Boards of Directors of First Life and Life of Jamaica have agreed to form a joint-venture that will carry out the administrative functions to support the Group Life, Health, Annuity, Personal Accident and Pension businesses of both companies. An arrangement like this, called Third Party Administration, (TPA) is commonplace in North America and Europe and is a proven method of containment of cost for insurance companies.

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