Trinidad and Tobago Insurance Limited takes over Barbados-based insurance company
Chairman of Trinidad and Tobago Insurance Limited (Tatil), Ray Sumairsingh
PORT OF SPAIN, Trinidad – Trinidad and Tobago Insurance Limited (Tatil) has acquired Barbados-based Trident Insurance Company Limited. After officially getting the nod from regulators, Tatil Chairman Ray Sumairsingh announced on Thursday.
Acknowledging that the COVID-19 pandemic may have led to some delays in finalizing the acquisition, Sumairsingh said the transaction had been successfully concluded with the receipt of all the required regulatory approvals here and in Barbados.
The operations of Brydens Insurance, the Barbados branch of Tatil, have already merged with Trident Insurance, under the Trident brand name. The new Trident Insurance will continue to bring its uniquely Barbadian perspective to the business of serving its customers.
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A major Barbados insurance industry merger pursued since 2019 has been completed.
Longstanding entities Brydens Insurance and Trident Insurance Company have officially amalgamated under the brand name Trident Insurance.
But while signaling that his organisation intended to grow its market share, chief executive officer (CEO) David Alleyne made it clear Trident would be doing so by offering enhanced service and products, not undercutting its competitors with cheap and unsustainable prices.
In an interview with the Weekend Nation, Alleyne said, “I wouldn’t sit here and tell you that Trident doesn’t want to grow, we want to grow but we want to grow by doing certain things right. We are not going to be charging the lowest rates in the market to undercut the market, we are not going to be doing that.
Tatil acquires Trident insurance in Barbados cnc3.co.tt - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnc3.co.tt Daily Mail and Mail on Sunday newspapers.
Tatil finalises merger of Trident, Brydens firms in Barbados
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The Tatil building on Maraval Road, Port of Spain. Tatil on Thursday announced the merger of Brydens Insurance and Trident Insurancei in Barbados. Photo by Sureash Cholai
Tatil Ltd has fully acquired the operations of Trident Insurance Company in a merger with its Brydens Insurance branch in Barbados.
The announcement was made on Thursday in a press release. Despite delays, Tatil’s chairman Ray Sumairsingh said the merger received all regulatory approvals in Barbados and TT. Attempts to contact Sumairsingh about the cost were unsuccessful.
In the release, Sumairsingh said the move will allow Tatil to expand its insurance footprint in Barbados and boost its offerings to the market.
T&T s Tatil Insurance acquires Bajan Trident Insurance jamaicaobserver.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jamaicaobserver.com Daily Mail and Mail on Sunday newspapers.