Guardian to synergise Globe, WIA operations - Business - Jamaica Gleaner - Wednesday | September 12, 2012

Guardian to synergise Globe, WIA operations - Business - Jamaica Gleaner - Wednesday | September 12, 2012: "Guardian Holdings' acquisition of Globe Insurance Company of Jamaica Limited will give it control of one-fifth of the market.

The Trinidad conglomerate struck a US$348-million (J$3.4-billion) deal with Lascelles deMercado and Company for Globe last Friday. The transaction is expected to close at the end of November.

The acquisition will now increase Guardian's business in the property, casualty and motor insurance business in Jamaica to about 20 per cent of the general insurance market, according to chairman Arthur Lok Jack.

"I think it's a good acquisition. It will give us more ability to win business and offer more to customers," Lok Jack told Wednesday Business."

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