October 21, 2020
NCB Financial Group Limited (NCBFG) has advised that in September 2020, the Company streamlined its Jamaican insurance business through the transfer of the insurance and annuities portfolios of NCB Insurance Company Limited (“NCBIC”), its wholly owned subsidiary in Jamaica, to fellow subsidiary Guardian Life Limited. Consequent on the transfer of the portfolios, NCBIC changed its name to NCB Insurance Agency & Fund Management Limited (NCBIA&FM), as the Company continues to provide pension fund administration and investment management services.
NCBFG has also advised that Vernon James, Managing Director and CEO – NCBIA&FM, will transition to NCBFG where he will assist in the execution of some strategic projects to be undertaken by the NCB Financial Group. This move will create a vacancy for the leadership position of NCBIA&FM and the search to fill this vacancy is underway. Additionally, Mr. James has tendered his resignation from the Board of Directors of NCBIA&FM effective October 31, 2020
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation (s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
