GHL to Acquire Globe Insurance from Lascelles

On September 11, 2012, Guardian Holdings Limited (GHL), in a joint statement with Lascelles deMercado & Co. Limited (LAS), announced the acquisition by GHL of 100% of the issued share capital of Globe Insurance Company of Jamaica Limited (Globe) from LAS, for a cash consideration of US$38 Million.

The successful completion of this transaction is subject to all necessary approvals from the Financial Services Commission of Jamaica. Globe is a major player in the general insurance market in Jamaica underwriting the following classes of insurance business: Property, Motor, Liability, Accident, Engineering and Marine.