KINGSTON, Jamaica — British Caribbean Insurance Company (BCIC) plans to merge with its newly acquired Jamaican rival, JN General Insurance Company (JNGI), into a single entity following a rebrand, pending regulatory approval, the companies announced on Wednesday.
The sale of JNGI by JN Financial Group Limited to BCIC and ICD Group Holdings Limited was finalized on June 6, BCIC said in a statement.
All JNGI employees were made redundant as part of the transaction, though most received job offers for similar roles at BCIC.
Both insurers will continue operating separately “in ordinary course” for now, with no immediate changes for policyholders, the statement said. The only current change is the transfer of JNGI ownership to BCIC and ICD Group.
“We are thrilled to welcome the customers, employees, and partners of JNGI into the BCIC family,” said BCIC Managing Director Peter Levy, emphasizing a focus on maintaining high service standards.
