KINGSTON, Jamaica — British Caribbean Insurance Company (BCIC) has closed its purchase of JN General Insurance Company (JNGI) and is charting a course to consolidate both brands under one banner, subject to regulatory clearance.
The transaction, completed on 6 June, transferred full ownership of JNGI from JN Financial Group to BCIC and its parent, ICD Group Holdings. As part of the deal, JNGI’s workforce was formally made redundant; however, BCIC has extended offers that effectively keep most of those employees in comparable positions within the enlarged insurer.
For the moment, BCIC and JNGI will continue to issue policies and service customers separately, while internal teams focus on the mechanics of the merger. The immediate, visible change will be cosmetic: JNGI is slated to adopt the name BCIC Insurance Limited in the coming months. Following that rebrand, the consolidated entity will seek approval from Jamaica’s Financial Services Commission to operate as a single company.
Peter Levy, Managing Director of BCIC, welcomed JNGI’s clients and staff, pledging “uninterrupted, best-in-class service” throughout the transition. Outgoing JNGI Managing Director Thomas Smith echoed the sentiment, saying the integration “positions the combined team to serve the market at an even higher standard.”
With the paperwork signed and branding in motion, the focus now shifts to regulatory sign-off—BCIC’s final hurdle before it can officially unify the two insurers under one roof.
