{"id":31011,"date":"2019-05-15T14:58:03","date_gmt":"2019-05-15T18:58:03","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=31011"},"modified":"2019-05-15T14:58:03","modified_gmt":"2019-05-15T18:58:03","slug":"jamaican-group-completes-take-over-of-trinidad-insurance-company","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/","title":{"rendered":"Jamaican group completes take-over of Trinidad insurance company"},"content":{"rendered":"
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The National Commercial Bank Financial Group (NCBFG) says it has \u201csuccessfully completed\u2019 the acquisition acquire control of the Trinidad-based company, Guardian Holdings Limited (GHL).<\/p>

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NCBFG in a statement posted on the Jamaica Stock Exchange, said together with its whole owned subsidiary, NCB Global Holdings Limited (NCBGH), it had acquired 72,230,750 ordinary shares in GHL following the granting of all necessary regulatory approvals. It said the acqution had taken place earlier this week, but gave no details as to the price paid.<\/p>\n

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GHL building in Trinidad (CMC File Photo)<\/figcaption><\/figure>\n

Late last month, Trinidad and Tobago Finance Minister, Colm Imbert, announced that it had has issued a licence to the Jamaican conglomerate to acquire control of GHL.<\/p>

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GHL is the parent company for an integrated financial services group known as Guardian Group, which is involved in life, health, property and casualty insurance, pensions and asset management throughout the Caribbean.<\/p>

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Imbert said that the licence had been issued under the Foreign Investment Act and allows for Jamaican conglomerate that held 69,547,241 shares, to acquire up to 74,230,750 shares in GHL, representing . 61.99 per cent of the total issued and outstanding shares in the company.<\/p>\n

\u201cAs we stated at the beginning of this journey, we believe that this transaction is a game-changer in the history of the region,\u201d said NCBFG chairman, Michael Lee-Chin.<\/p>

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\u201cAmidst the context of the de-risking impacting the region, we are proud and excited about the implications and prospects of two leading indigenous Caribbean institutions coming together to drive economic growth, customer and share-holder value,\u201d he added.<\/p>\n

GHL chief executive officer, Ravi Tewari, said that since the acquisition of the first block of shares in 2016, the Guard Group had started seeing opportunities for a very \u201cpositive impact for the shareholders, clients and employees of the Guardian group.<\/p>

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\u201cThis further deepening of the relationship between two leading Caribbean countries augurs well for the acceleration of these positive impacts for Guardian and the region,\u201d he added.<\/p>

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Meanwhile, NCBFG,, Patrick Hylton, has been appointed chairman of GHL, replacing Trinidadian, Arthur Lok Jack, who has served as chairman over the past 15 years.<\/p>\n

Hylton noted that as stand-alone regional leaders, NCB and GHL combined, have the opportunity to become a world-class financial service conglomerate, which ultimately has positive implications for shareholders, our region and its citizen<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

The National Commercial Bank Financial Group (NCBFG) says it has \u201csuccessfully completed\u2019 the acquisition acquire control of the Trinidad-based company, Guardian Holdings Limited (GHL). NCBFG in a statement posted on the Jamaica Stock Exchange, said together with its whole owned subsidiary, NCB Global Holdings Limited (NCBGH), it had acquired 72,230,750 ordinary shares in GHL following […]<\/p>\n","protected":false},"author":3,"featured_media":16027,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-31011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional"],"yoast_head":"\nJamaican group completes take-over of Trinidad insurance company - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jamaican group completes take-over of Trinidad insurance company\" \/>\n<meta property=\"og:description\" content=\"The National Commercial Bank Financial Group (NCBFG) says it has \u201csuccessfully completed\u2019 the acquisition acquire control of the Trinidad-based company, Guardian Holdings Limited (GHL). NCBFG in a statement posted on the Jamaica Stock Exchange, said together with its whole owned subsidiary, NCB Global Holdings Limited (NCBGH), it had acquired 72,230,750 ordinary shares in GHL following […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Antigua News Room\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiguanewsroom\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-15T18:58:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/05\/Jamaica-flag.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:site\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\"},\"headline\":\"Jamaican group completes take-over of Trinidad insurance company\",\"datePublished\":\"2019-05-15T18:58:03+00:00\",\"dateModified\":\"2019-05-15T18:58:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/\"},\"wordCount\":384,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:576\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/05\/Jamaica-flag.jpg\",\"articleSection\":[\"Regional\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/\",\"url\":\"https:\/\/antiguanewsroom.com\/jamaican-group-completes-take-over-of-trinidad-insurance-company\/\",\"name\":\"Jamaican group completes take-over of Trinidad insurance company - 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