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The Tender

Following the decision to combine and put the insurance portfolios of Mutual Life Assurance Company, Crown Eagle Life Insurance Company and Dyoll Life Insurance Company to tender, the Insurance Team at FINSAC contacted several local and Caribbean companies and invited them to bid.

Expressions of interest were received from 9 companies, 8 of which were allowed to enter the bidding process. These were:

  • Barbados Mutual Life Assurance Society
  • Blue Cross of Jamaica
  • Colonial Life Insurance Company (Trinidad) Ltd.
  • First Life Insurance Company Ltd.
  • Guardian Holdings Ltd.
  • Life of Barbados Ltd.
  • Maritime Life (Caribbean) Ltd. Prime Life Assurance Company Ltd.

Life of Barbados Ltd. and Barbados Mutual Life Assurance Society decided to bid for the portfolios as a joint venture.

The Bid Process

The Results

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