Tatil takes over Trident Insurance

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.”

Ibrahim added that the Tatil branch is poised to become a prominent financial services provider in Barbados when Trident pairs its technological platform with Brydens’ robust line up of insurance offerings.

David Alleyne, with over 30 years’ experience in a senior capacity in the insurance industry, has been named the new Trident’s Chief Executive Officer.

Alleyne said: “Trident Insurance’s roots run deep in the Barbadian culture – over four decades – and we will honour that legacy by maintaining the Trident name. Brydens Insurance is highly respected in Barbados, particularly by corporate clients who value a stable, financial services provider, which our international A. M. Best rating supports. Our clients can rest assured that their business with us will be seamlessly transitioned, with no change to their policies, products or services.”
(BT/PR)