Canopy posts $4.8b revenue and nears erasing start-up deficit

Canopy Insurance Limited, a joint venture between GraceKennedy Group and Musson Jamaica Limited, posted profit for a third consecutive year, with revenue and earnings both rising by double-digit levels. The results were achieved against the backdrop of Hurricane Melissa, the Category 5 storm that struck Jamaica last October. Net profit for the year reached $253.9 million, up 17 per cent from $216.9 million in 2024. Total revenue rose 22 per cent to $4.83 billion from $3.96 billion, driven by growth in Canopy’s client base beyond its founding corporate sponsors.