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GraceKennedy (GK) acquires Scotia Insurance Caribbean Limited

Posted: Wednesday, August 31, 2022. 5:58 pm CST.

Photo Credit: Grace Kennedy

By Rubén Morales Iglesias: GraceKennedy (GK) has made an agreement with the Bank of Nova Scotia to buy over 100 percent of Scotia Insurance Caribbean Limited (SICL), said the Jamaica Observer.

A GK press release said this move comes one year after Grace Kennedy acquired Scotia Insurance Eastern Caribbean Limited (SIECL), another Bank of Nova Scotia subsidiary. The SIECL was later rebranded as GK Life Insurance Eastern Caribbean Limited (GK Life).

The Jamaica Observer said “SICL is a licensed life insurance company, which offers credit protection to customers on personal loans, residential mortgages, personal lines of credit, personal and small business credit cards”.

SICL operates in several Caribbean countries, including Barbados, the British Virgin Islands, and the Cayman Islands.

The GraceKennedy Financial Group comprises GK Life Insurance Eastern Caribbean Limited, GK General Insurance, Key Insurance, Canopy Insurance, Allied Insurance Brokers, GraceKennedy Insurance Brokers, GK Insurance Eastern Caribbean, GraceKennedy Remittance Services, GraceKennedy Money Services Group, GK Capital Management, and First Global Bank.

 

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