Apr 2023 Financial News

GraceKennedy Limited - Notice of Material Information - Acquisition of Scotia Insurance Caribbean Limited

Apr 05, 2023

GraceKennedy (GK) has completed its acquisition of Scotia Insurance Caribbean Limited (SICL) and has announced that the company is to be rebranded as GK Life.

In addition to the seven Caribbean markets GK Life currently serves (Anguilla, Antigua and Barbuda, Dominica, Grenada, St. Kitts and Nevis, St. Lucia, and St. Vincent and the Grenadines), it will now also offer credit protection insurance in the five territories where SICL operated (Barbados, Belize, the British Virgin Islands, the Cayman Islands and the Turks & Caicos Islands). There will be no changes to existing customer policies associated with the acquisition.

Commenting on the acquisition, Group CEO of GraceKennedy, Don Wehby had high praises for the GK team, “This is another bold step towards the fulfilment of our strategy to grow GK’s insurance business in the Caribbean, as we continue to expand the footprint of our Financial Group in the region. The addition of these five new territories to GK Life, means that we have grown GK’s life insurance business to 12 new markets in less than two years. Congrats to our GK team who put in all the hard work to make this a reality.”

The Trinidad and Tobago Stock Exchange Limited
Wednesday 5th April, 2023