British Caribbean Insurance Company, BCIC, opened its first branch in Barbados this week.
BCIC is owned jointly by the ICD Group and Victoria Mutual Building Society.
The opening fulfilled a long-time desire of ICD group chairman Joseph Matalon to expand BCIC into the Caribbean.
BCIC’s Managing Director, Peter Levy says they were focused on replicating their Jamaican success over the last five decades in Barbados, bringing their way of thinking about insurance and insurance products to the table.
British Caribbean Insurance Company merged with Victoria Mutual Insurance Company in 2010.
With an equity base of almost $3-billion at December last year, BCIC ended its 2016 financial year with a Gross Written Premium of $6.8-billion.
Established in 1962, BCIC is one of the oldest insurance companies in Jamaica.
This is BCIC’s first operation outside of Jamaica.