NCB Capital Markets (NCBCM), a subsidiary of Jamaica-based NCB Financial Group (NCBFG), has signed an agreement to offload its entire state in Advantage General Insurance Company (AGIC).

Under the terms of the share purchase pact, Sagicor Investments Jamaica, Fundy Bay Equity Holdings and Resource In Motion will acquire NCBCM’s 100% stake in AGIC.

The transaction, worth approximately $50.5m, is pending receipt of regulatory approval.

Having announced its intention to acquire Advantage General in July 2012, NCB purchased the insurance company in February 2013, from the Neville Blythe-led United General Insurance Company.

Advantage General is a major motor vehicles insurance company in Jamaica. It also offers property, pecuniary, loss liability and accident insurance products and services.

Incorporated in April 2016, NCBFG through the bank and its wealth management, life and general insurance, and offshore banking subsidiaries, offers a range of financial products and services.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The NCB Group manages NCBJ, NCB Capital Markets and its subsidiaries in Barbados and Cayman, NCB Insurance Company, Advantage General Insurance Company, NCB (Cayman), Clarien Group and its subsidiaries in Bermuda, Guardian Holdings and its subsidiaries along with NCB Global Finance in Trinidad and Tobago.