Source: Federal Reserve Board, Distributional Financial Accounts; Bureau of Economic Analysis; calculations by Board staff. 2018:Q4  2018 billion dollars  Figure 11.
The FINSAC head also blamed the crisis on Jamaica’s failure to adequately regulate and supervise the financial sector. He noted, in particular, that the Office of the Superintendent of Insurance, was not adequately staffed and as a department within the Ministry of Finance did not appear to have the stature needed to deal “at eye level” with the moguls of the insurance industry.