ANSA takes over Trident

After months of negotiations, ANSA McAL (Barbados Limited) has purchased the shares of Trident Insurance Company Limited.

Chairman of ANSA McAL Andrew N. Sagba made the announcement in a statement issued today, saying the Trinidad and Tobago conglomerate was delighted to welcome Trident Insurance into the wider ANSA McAL family which comprises 73 companies in more than eight countries.

It is not clear whether the sale of Trident Insurance will affect the staff complement there. Sabga only offered assurances to policyholders in the statement, saying “Trident insurance would continue to conduct business as usual”.

Back in June, David Alleyne, General Manager of Brydens Insurance, which is a branch of the ANSA McAL-owned Tatil Insurance Company in Trinidad and Tobago, told Barbados TODAY, that the companies had come to an agreement to join forces to create a stronger, focused entity.

At today’s signing, President and CEO of Trident Insurance Algernon Algie Leacock said the resources of the ANSA McAL conglomerate would enable Trident Insurance “to better support the evolving needs of our policyholders, and to remain a strong player in this fast-paced and aggressive financial environment”.

“We are therefore extremely pleased to accept this offer,” he added.

Leacock also revealed that the deal paves the way for the Leacock family and Group to pursue “other business opportunities which are a better strategic fit to their existing businesses and future expansion plans”.

The over 39-year-old Trident Insurance Company offers a range of products including property, motor, travel, liability and marine insurance. It is in the top ten of insurers in Barbados, based on gross written premiums. (SD/PR)