The British Caribbean Insurance Company (BCIC), which is owned jointly by the ICD Group and the Victoria Mutual Building Society, opened its first branch in Barbados this week, fulfilling a long-time desire of ICD group chairman Joseph M Matalon to expand BCIC into the Caribbean region.
Peter Levy, BCIC’s managing director commenting on the move indicated that 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 (BCIC) merged with Victoria Mutual Insurance Company (VMI) in 2010 in a share exchange that left VMI with a minor stake in the larger insurer in exchange for its operational assets,
With equity base of $2.97 billion at December 2016 BCIC ended its 2016 financial year with a Gross Written Premium of $6.8 billion.
Established in 1962, BCIC is considered one of the oldest insurance companies in Jamaica, this will be BCIC’s first operation outside of Jamaica.BM