LOJ wishes to advise that it has been in negotiations with Cayman National Corporations (CNC) for the acquisition by LOJ’s subsidiary Sagicor Life of the Cayman Island Ltd., of a controlling interest in Cayman General Insurance Company Ltd, a licensed insurer in the Cayman Islands.
CGI is a 75.2% owned subsidiary of CNC and offers a full range of general insurance products as well as group health insurance and group life products.
Once the regulatory approvals are obtained, LOJ, through Sagicor Cayman will hold 51% of the ordinary shares in CGI, with the Cayman Government holding 24% and CNC retaining a 24.2% stake in the Company
