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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 received from Massy United...

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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

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PPS: The new movies schedule for July 19-25 is out.... (No Mamma Mia 2 showing yet though). Top Stories
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Soup Kitchen: Saturday, July 21

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Poll results (5) - " St. Maarten is filthy. Do you agree?"

Yes - 100%
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Poll sponsored by  StMaartenFlowers.comwhere you order online and we deliver offline.
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Undergraduate Barbadian Students at UWI Get Free Tuition

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TV Carib News - 18 Jul 2018
TV Carib Informer News

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