Trinidad & Tobago, the southernmost Island of the
Caribbean, is where it all began. The seed was sown
in 1847 when Standard Life of Scotland started a
branch office in Trinidad. The company underwent
many transformations until a holding company was
established on June 18, 1996 out of Guardian Life of
the Caribbean Limited, to consolidate the Group’s
investments in life, property and casualty insurance
and in property development.
In 1999, this parent company, Guardian Holdings
Limited (GHL), acquired certain substantial
insurance portfolios in Jamaica and incorporated a
wholly-owned subsidiary, Guardian Life Limited. The
investment in Jamaica was based on the assessment
that even in the context of a weak but improving
economy, financial services in Jamaica will grow
strongly over several years as that sector rebounds
from the difficult circumstances of the recent
times.
The next year GHL went a step further and bought
Royal & Sun Alliance Insurance (Jamaica) Ltd., a
leading property & casualty underwriter and the name
reverted to West Indies Alliance Insurance Company
Ltd. In 2002 West Indies Alliance became a wholly
owned subsidiary of Guardian General Insurance
Company Ltd., itself a GHL subsidiary.
Also
In 2000, the Group structure evolved further as it
pursued strategies of regional expansion in life
insurance, diversification into other areas of
financial services, entry into other sectors of the
residential property development and management
market, and investment in opportunities in certain
emerging businesses.
In that year, Guardian Asset Management was
incorporated as a wholly owned GHL subsidiary in
Trinidad & Tobago and was granted a license to
operate as a financial institution under the
Financial Institutions Act by the Central Bank of
Trinidad & Tobago in 2003. Guardian Asset Management
clients can create, build and preserve wealth with
innovative investment solutions. The service
includes asset allocation, diversification and
frequent rebalancing of portfolios, building blocks
that form the foundation of any sound long-term
investment strategy. GAM’s specialized service
includes Private Wealth Executive Services and
Mutual Funds.
In 2001 two of the region’s leading property and
casualty insurance companies were acquired by
Guardian Holdings Limited and amalgamated to
establish Guardian General; one of the largest
property and casualty insurers in the region. This
subsidiary offers property and casualty insurance
products, including Motor, Property, Crime,
Liability, Marine and Travel.
GHL purchased Link Underwriting Agency Limited (LUAL)
in 2003 and provided the capital for Link Insurance
Company Limited (LICL) to be established in
Gibraltar. The Company commenced trading in January
2004.
In a bid to expand its presence in Europe Guardian
purchased another Gibraltar based insurer, Zenith
Insurance plc (ZIP), in January 2005. LICL and ZIP
were brought together at the same registered address
in Gibraltar but continued to operate as separate
companies both providing a range of motor insurance
products.
Zenith and Link are well known names within the UK
insurance market, both having been established as
motor syndicates within the world renowned Lloyd’s
of London. At the time of their purchase by Guardian
the companies had similar operating models,
distribution being exclusively through UK insurance
intermediaries and both utilising UK based service
companies.
ZIP had been using the services of Zenith Insurance
Management Limited which was also purchased by the
Guardian Group. The Company was later renamed Zenith
Services UK Limited (ZSL).
LICL used the services of Rubicon who went into
administration during 2006. To minimise the impact
on staff, brokers and policyholders ZSL stepped in
and purchased the operation from the administrators.
From this point forward both LICL and ZIP had just
one service operation which on 1st May 2007 became
GHL Insurance Services UK Limited. The Company is
based in the Sussex market town of Haywards Heath.
During 2007 a decision was made to transfer LICL to
ZIP to eliminate not only the duplication of
products but also services and costs associated with
operating both insurance companies. This was the
first transfer of its kind undertaken in Gibraltar.
Zenith Insurance plc remains as the sole insurer.
Today GHL is the parent company for an integrated
financial services group whose business focus is in
life, health, property and casualty insurance,
pensions, asset management and private equity. The
Group operates across the English and Dutch
Caribbean, Central and Latin America and has
expanded its international presence in Europe
through strategic acquisitions in the United Kingdom
and Gibraltar.
GHL is listed on the Stock Exchanges of Trinidad &
Tobago and Jamaica. It was selected by the Gleaner
and Mona School of Business Jamaica as winner of the
Gilt Edged Golden Awards 2003 for both Jamaica and
the Caribbean, Most Admired Company in Trinidad &
Tobago (2003) and Caribbean Company of the Year
(2000).
