Sagicor Investments today announced that the sale of shares in Advantage General Insurance Company Limited (AGIC) by NCB Capital Markets Limited to an unincorporated consortium led by Sagicor Investments Jamaica Limited (SIJ) through its wholly owned subsidiary Phoenix Equity Holdings Limited was completed on September 30, 2019.

In a release yesterday, Chris Zacca, chairman of SIJ and president and CEO of SIJ parent company, Sagicor Group Jamaica, said that the acquisition gives his company a stronger foothold in the insurance market.

“The acquisition of AGIC brings a welcome addition to the suite of products and services offered by the Sagicor Group, and provides Sagicor with a solid foothold into Jamaica’s general insurance market,” he said.

“We are pleased to officially welcome the Advantage General Insurance team to the Sagicor family. We are stronger today as a group and are excited to work with them,” he further stated.

The deal is expected to afford clients, team members, and shareholders of Sagicor and the wider Jamaica a more expanded suite of financial products and services.

“The consortium will now work to implement a strategy for the growth of AGIC’s business and its full integration into the Sagicor Group,” the release stated.