PHILIPSBURG:--- Assuria N.V., the largest financial group in Suriname and parent company of Gulf insurance Ltd., recently acquired majority shares in MEGA Insurance Co. Ltd., a key player in the Life Insurance industry in Trinidad & Tobago, to further strengthen its investment position in Caribbean markets.
The strategic move is in line with the regional development- and expansion strategy of Assuria, and is aimed to further invest in the fast evolving insurance markets and to continue to provide customers with state of the art insurance products & services.
The Central Bank of Suriname and of Trinidad and Tobago both approved the acquisition whereby Assuria N.V. obtained 77% of the shares in MEGA Insurance. The takeover will bring financial strength and technological expertise to MEGA Insurance, while the Assuria Group will now have an ideal platform for expanding its life insurances operations in wider Caribbean markets.
The acquisition will create good opportunities for Assuria's subsidiary company 'Gulf Insurance' that is currently operating in different Caribbean territories including St. Maarten, Saba, Statia and Curacao. Ms. Nadira Hellendoorn, Branch Manager of Gulf Insurance stated: "We are very pleased with the strategic alliance between Assuria and MEGA and we look forward to work together with the dedicated and knowledgeable staff of our new sister company for the further enhancement of our insurance portfolio. Collaborations like this will add value to our operations and is something our customers will definitely benefit from". More Information will be made available via the company website: www.gulfinsuranceltd.com.