Special Advisory: NCB Financial Group Limited (NCBFG)

July 01, 2020

NCB Financial Group Limited (NCBFG) has advised that it has started the process of streamlining the insurance business currently offered by its competing subsidiaries – NCB Insurance Company Limited (“NCBIC”/“the Company”) and Guardian Life Limited (“GLL”).
To this end, NCBIC has submitted applications to the Financial Services Commission seeking approval for the following:
    1.  the transfer of 100% of the Company’s portfolio of insurance and annuities business to Guardian Life Limited;
    2. to be licensed as a dealer under the Securities Act; and
    3. registration of the Company as an insurance agent under the Insurance Act.

The submission also indicates that the application for approval of transfer of business and the application for registration as an insurance agent are contingent upon each other. If approved, these applications will allow NCBIC to discontinue its business as an insurance underwriter, retain and continue to operate its business as a Pension Fund Administrator and Investment Manager, while selling insurance products as an exclusive agent of Guardian Life Limited under a new company name. Insurance policies for existing policyholders will not be impacted, as GLL will honour the contracts being transferred on its current terms.

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.

More Stories from the Market
mje_
April 24, 2026 Mayberry Jamaican Equities (MJE) Unaudited Financial Results for the Three Months Ended March 31, 2026_USD Mayberry Jamaican …
Logo - Mayberry Group Ltd.
April 24, 2026 Mayberry Group Ltd Unaudited Financial Results for the Three Months ended March 31, 2026      …
image (6)
April 24, 2026   Mayberry Investments Limited Unaudited Financial Results for the Three Months Ended March 31, 2026   Discla…
shutterstock_148562033
April 24, 2026   Supreme Ventures Limited (SVL) has advised that on April 22, 2026, a connected party purchased 79,288 SVL shares. &nbsp…
shutterstock_453968572
April 24, 2026   Dolphin Cove Limited (DCOVE) has advised that Mrs. Rhonda A Goodison has resigned as Company Secretary, effective April 21…
shutterstock_193038047
April 24, 2026 Trinidad and Tobago’s economy showed signs of moderation during the first three quarters of 2025, as weaker activity in the non-ener…
shutterstock_453968572
April 24, 2026 United States: Economists Raise US Inflation Forecasts as Iran War Drags On   Economists raised their estimates for US infl…
MIL
April 23, 2026 Mayberry Jamaican Equities Limited (MJE) has advised that the daily Net Asset Value (NAV) for April 20, 2026, was J$7.60. MJE’s clos…