Tatil finalises merger of Trident, Brydens firms in Barbados
9 Hrs Ago
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.
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Port of Spain – 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 has been successfully concluded with the receipt of all the required regulatory approvals here and in Barbados.
The operations of Brydens Insurance, which is 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.
Tatil takes over Trident Insurance
Article by May 7, 2021
Trinidad and Tobago Insurance Limited (Tatil) has officially acquired Trident Insurance Company with regulators in both countries giving their nod to the deal, Tatil Chairman Ray A. Sumairsingh announced Thursday.
The acquisition process which started in December 2019 had suffered setbacks owing to the COVID-19 pandemic.
The operations of Brydens Insurance, the Barbados branch of Tatil, have already merged with Trident Insurance, under the Trident brand name.
Commenting on the acquisition, M. Musa Ibrahim, Tatil’s Managing Director said: “We are excited by the many opportunities this transaction creates and the enhanced value it will bring to our stakeholders. Not only will our clients benefit from an expanded portfolio of products and services – including an A- (Excellent) financial rating from A. M. Best – but it opens doors for our employees to enhance their skills and career options.”