"The team at Portland Private Equity understands the property and casualty insurance business and the nuances of business building in Jamaica. They have proven to be deeply knowledgable and well connected investors and I view them as valuable mentors and constructive contributors on the board of directors."
Advantage General Insurance, an AIC Caribbean Fund portfolio company, is acquired by NCB Capital Markets
Kingston, Jamaica
February 12, 2013
Kingston, Jamaica February 12, 2013 - NCB Capital Markets, a wholly owned subsidiary of National Commercial Bank Jamaica Limited, announced today the acquisition of Advantage General Insurance, the largest insurer of motor vehicles in Jamaica. The acquirer described the transaction as a “mutually beneficial acquisition” which is expected to “facilitate the expansion of the suite of financial services that the NCB Group and Advantage General have to offer.”
Contact:
For more information visit www.portlandpe.com or contact Douglas Hewson at dhewson@portlandpe.com.
About Portland Private Equity:
Based in Barbados, Portland Private Equity is a private equity fund management company currently focused on opportunities in the Caribbean region through its management of the AIC Caribbean Fund (ACF). Building on Portland’s track record of successful investments throughout the Caribbean region, ACF is a ~$230M fund focused on medium-sized businesses. Companies in Portland’s portfolio do business in over 20 countries throughout the Caribbean, Central America, and Latin America.