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SAGICOR Financial Corporation is paying nothing to CLICO and British American Trinidad to acquire their tradition insurance portfolios, worth over $8 billion, as the regional insurance company is acquiring insurance liabilities that have a greater value that the total investment assets that are to be transferred to Sagicor.

This is what multiple insurance sources told Express Business last week In statement released on October 7, Sagicor disclosed that about “US$1.2 billion of total investment assets are proposed to be acquired to offset a similar amount of actuarial liabilities which are expected to be assumed.”

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JMMB Group Ltd (JMMBGL) recently launched an Additional Public Offering (APO) of shares concurrently in both Trinidad and Tobago and Jamaica. The issue is currently sized at 266,737,797 ordinary shares, with JMMBGL reserving the right to increase this issue to a maximum of 325m shares. 

THE CONVENTIONAL belief in sociology used to be that it takes a whole generation for patterns of social or cultural behaviour to change. The rule of thumb definition of generation was 15 years. In this axial age we are going through, time seems to have speeded up and cultural changes take place every decade or less. This is as true in industrial relations as it is in family life, in economic or political life.

SCOTIABANK’s senior vice president Caribbean South & East Stephen Bagnarol is in St Kitts and Nevis finalising matters relating to the transfer of the bank’s operations to Republic Bank.

ONE day last week—it must have been Tuesday, my offday—I was flipping through the newsroom of the T&T Stock Exchange website, when I came across a notice that read: “The Trinidad and Tobago Stock Exchange Limited (TTSE) received notice from Massy advising that a shareholder connected to a director purchased 109,273 Massy shares on October 21, 2019.” That’s interesting, I thought to myself, as I headed directly to the pulldown menu that allows viewers to get all of the recent notices of the companies listed on the local stock exchange.