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Monday, September 27, 2021
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HomeBusinessPeak Reinsurance, NAGICO Reach Final Takeover Deal

Peak Reinsurance, NAGICO Reach Final Takeover Deal

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(Daily Herald) Philipsburg–NAGICO Insurances announced on Tuesday that definitive agreement has been reached and Peak Reinsurance Company Limited (Peak Re) is set to become its 100-per-cent owner, subject to regulatory approvals being received, and other customary closing conditions being satisfied.

This was announced in a press statement from NAGIO Insurances on Tuesday.

According to the statement, since the initial investment by Peak Re in August 2016, NAGICO Insurances pursued growth opportunities and has expanded its life operations and footprint into the Eastern Caribbean region, and on the general insurance side it has continued to prove itself as a strong, reliable and trusted group having paid nearly USD $1 billion in claims following three category-five hurricanes: Irma, Maria and Dorian, which devastated the region.

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