Beautiful Virgin Islands

Tuesday, Jun 24, 2025

CG to acquire Massy United Insurance Barbados

CG to acquire Massy United Insurance Barbados

Bermuda-based Coralisle Group Ltd (CG) announced today, September 7, 2021, that it has signed an agreement to acquire 100% interest in Massy United Insurance Ltd. (United) of Barbados.
The transaction, which is subject to regulatory approval in relevant jurisdictions, is expected to close as soon as requisite approvals are obtained.

The acquisition of United will significantly expand CG’s existing presence in the Caribbean and add 14 new markets where United operates, including Anguilla, Antigua & Barbuda, St. Kitts & Nevis, Montserrat, Dominica, St. Lucia, St. Vincent, Grenada, Trinidad & Tobago, Guyana, Curacao, Aruba, Jamaica and Belize.

CG and United have complementary operations in the Bahamas, Turks & Caicos, British Virgin Islands, Barbados and the Cayman Islands, with minimal overlap in their product offerings. More specifically, the acquisition will add a complementary suite of property and casualty insurance products to enhance CG’s core life, health and property and casualty product offerings in those locations.

CG Chief Executive Officer Naz Farrow described the acquisition as a ‘game changer’ for CG for its geographical dynamic and new business potential.

‘We are very excited to join with the people of United Insurance in this new venture to provide customers with a full range of insurance solutions,’ she said.

‘We are two well-established companies whose experience, skills and product lines are well matched to meet customer needs in all circumstances. In particular, this acquisition allows us to introduce CG Health, Life and Pension solutions to markets where United operates, building on its strengths in Property and Casualty insurance.’

‘My colleagues and I are particularly looking forward to working with a company whose people-first approach to business is underpinned by a strong record of meeting the needs of customers and employees. We found the cultural, commercial and organizational synergies of this deal to be compelling.’

Both companies are financially strong with CG and United carrying AM Best ratings of A and A-, respectively. Further, a CG-United presence in 20 Caribbean markets with complementary lines of business is expected to diversify its risk profile.

CG Chairman Dr. Grant Gibbons said the acquisition of United aligns perfectly with CG’s strategic objective to grow responsibly toward becoming the insurer of choice in the region.

‘This acquisition,’ he said, ‘will significantly strengthen CG’s presence across the Caribbean, enabling us to continue our growth and deliver insurance solutions to clients seeking comprehensive regional coverage.’

United’s Chief Executive Officer Randy Graham said United was looking forward to working with CG.

‘I see this transaction as the start of a new and exciting chapter for United’s customers and employees,’ he said. ‘Our business will expand with CG’s support, and with our matching commitments to the wellbeing of our clients, this expansion will stand on the firmest footing.’

RBC Capital Markets acted as financial advisor to Coralisle Group Ltd. with Carey Olsen Bermuda Limited as legal counsel. Ernst & Young Corporate Finance acted as financial advisor to Massy Barbados LTD.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
×