No mass layoffs at Massy; only 5% staff reduction
PHILIPSBURG - Reports reaching our news desk indicated that 50% of Massy United Insurance in Trinidad were being let go and Barbados and the BVI were to soon follow. However, an official statement StMaartenNews.com received from Massy United...
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stmaartennews.com
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Dear Reader
We were once again perplexed.
Massy United Insurance Ltd. informed us in an official statement that as of June 2018 it has paid out $72 million US Dollars to 48 damage claims of clients on St. Maarten at an average pay-out of a whopping $1,5 million dollars per claim.
How can this be?
How can it be that insurance companies are pumping millions upon millions into St. Maarten, compensating clients for hurricane damages incurred in 2017 during the passing of hurricanes Irma and Maria and we are not seeing this translated into booming economic activities on the island?
We even question whether a foreign insurance company such as Massy is even licensed to operate on St. Maarten.
Because their clients may be St. Maarten-based policy-holders, but the millions cannot possibly be coming directly into St. Maarten.
We ought to see a significant increase in foreign exchange currencies being held in the reserves of our Central Bank as well.
We have dispatched another email to the Central Bank of Curacao and St. Maarten (CBCS) with questions about Massy's right to operate in the territory of Dutch St. Maarten.
Maybe with the answers we may get a clue as to where the millions in claims pay outs are really going.
Best regards,
Terrance Rey
The Publisher
StMaartenNews.com
PS: Email
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PPS: The new movies schedule for July 19-25 is out.... (No Mamma Mia 2 showing yet though).
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StMaartenNews.com Top Stories
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St. Maarten community joins KPSM and Rogers family ...
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TelEm Group CEO Kendall Dupersoy calls for fair action...
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Presenting Shakainah Pompier Arrindell-Miss Teen St.Maarten
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Minister Geerlings discusses issues of mutual interests...
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Contractors and builders advised to have plans in place...
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Traffic interruption on A.T. Illidge Road on Saturday
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WIB Supports "Back to School Drive"
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Rotary Club Mid Isle Making a Difference in our Community
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Dutch Representative, SMDF and WIB Partner for Foster Home
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Tzu Chi distributes rice to 300 hurricane relief families
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StMaartenNews.com BES News
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Parliament With Questions About Airline Permits
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Soup Kitchen: Saturday, July 21
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Registration Now Open for EXPO section at #SPORTSMATTER...
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CPS calls on communities to clean-up mosquito breeding sites
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Minister Blok statements about ethnicity and multicultural..
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Who was Jean Brooks aka "Tata"?
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A man from French Quarter
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StMaartenNews.com - Regional News
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StMaartenNews.com Online News Stories
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Trini Woman Jailed in UK for Defrauding Charity of US$1M
LONDON, England, Wednesday July 18, 2018 -A Trinidadian-born woman has been jailed in the United Kingdom for defrauding a charity she worked for of just over US$1 million. Nadia Deone Chase Ali, 35 was sentenced to six years in prison after being ...
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Let's Cruise - Eastern, Western, Southern Caribbean...
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Parliament Approves Further Extensions for Zones of Spec Ops
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Resort claim now likely to reach over US$100 million
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Zero tolerance on corruption, says Barbados PM
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Undergraduate Barbadian Students at UWI Get Free Tuition
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Caribbean foreign direct investment up 20 percent in 2017
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Weather Forecast: Friday to Sunday
DATE ISSUED: Thursday July 19, 2018 @ 18:00 LST (22:00 UTC) VALID UNTIL: Friday evening (18:00 LST) July 20, 2018 Tonight through Friday evening: Partly cloudy, hazy and breezy with brief passing showers possible. Forecast High: 31°C / 88 °F...
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StMaartenNews.com Dutch News
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Dutch foreign minister 'regrets' controversial comments
Dutch foreign minister Stef Blok says he 'regrets' the concern his comments about refugees and multicultural societies, made at a private meeting in July, have caused. The minister has come under fire from across the political spectrum for the...
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Dutch foreign ministry has no doubts about US support...
The Netherlands has no doubts about American support for its investigation into the downing of flight MH17 despite reports that US officials withheld a statement blaming Russia, the foreign affairs ministry said on Thursday. 'Over the past few...
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Festivals continue to break law on deals with big tobacco
Tobacco companies are continuing to sign exclusive deals with festival organisers to ensure theirs are the only cigarettes on sale even though this against the law, according to journalists specialising in the tobacco industry. Researchers...
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Limburg toddlers to learn Limburgish?
Toddlers in Limburg are to be spoken to in Limburgish in an effort to help keep the local language alive, the Limburger newspaper said on Thursday. The province is launching an experiment at play group Spelenderwijs in the far south in which play ...
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TV Carib News - 18 Jul 2018
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Book your summer vacation with AirSXM
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Ready to plan your summer vacation trip? Search for flights, hotels, car rentals and vacation packages online on AirStMaarten's booking site.
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