(Trinidad Guardian) GraceKennedy (GK) has come to an agreement with Scotia Insurance Caribbean Ltd to acquire 100 percent of the shares of Scotia Insurance Eastern Caribbean Ltd (SIECL), with the associated transaction being subject to regulatory approvals and other customary closing conditions.
SIECL is a licensed life insurance company operating in seven countries in the Eastern Caribbean: Anguilla, Antigua and Barbuda, Dominica, Grenada, St Kitts and Nevis, St Lucia and St Vincent and the Grenadines.
According to a release from Grace Kennedy, SIECL offers credit protection regionally to customers on personal loans, residential mortgages, personal lines of credit, personal and small business credit cards.
In a statement Group CEO of GK, Don Wehby said he was pleased to see the acquisition become a reality because the Eastern Caribbean aligns with GK’s strategic vision of expanding its financial services business in the region.
