Guardian's M&A appetite not diminished by NCBJ deal

The appetite for inorganic growth through M&As at Trinidad and Tobago-based Guardian Group has not diminished with the incorporation of a Jamaican bank as a key shareholder, according to a top executive.

The National Commercial Bank Jamaica (NCBJ) announced last month an agreement to buy 29.9% of Guardian.

Guardian remains determined to expand its footprint in the Caribbean and other Latin American countries through M&A deals, the group's executive director, Douglas Camacho, confirmed to BNamericas.

Camacho had told BNamericas in August about the group's M&A plans.

Having NCBJ as a strategic shareholder "will likely give us greater capability" to pursue regional deals, Camacho noted.

Guardian is one of the largest insurance and financial services providers in the English and Dutch-speaking Caribbean. NCBJ is the biggest financial services institution in Jamaica with bank, wealth management, life and general insurance, and offshore banking subsidiaries.