KINGSTON, Jamaica — A new era in Jamaica’s general insurance sector is underway as British Caribbean Insurance Company (BCIC) officially takes the reins of JN General Insurance Company (JNGI), paving the way for a forthcoming brand overhaul and operational merger.
The acquisition, completed on June 6, marks BCIC’s latest strategic move, carried out in partnership with ICD Group Holdings Limited. JNGI’s parent, JN Financial Group, exited the general insurance space with the transaction. BCIC is now setting its sights on folding JNGI’s operations into its own, subject to the green light from the Financial Services Commission (FSC).
For now, both insurers will operate independently, maintaining the status quo for policyholders while backend transition efforts proceed. A rebrand is on the horizon, with JNGI expected to be renamed BCIC Insurance Limited — the first formal step toward full integration.
Despite all JNGI staff being rendered redundant at the point of sale, BCIC says most were rehired in equivalent roles, minimizing disruption and preserving institutional knowledge.
BCIC Managing Director Peter Levy noted the merger as a milestone for the company. “Welcoming JNGI’s clients and team is an exciting step. We’re committed to delivering the service excellence both companies are known for,” he said.
Former JNGI head Thomas Smith echoed that sentiment, commending the outgoing team and voicing optimism about the combined firm’s future impact on the market.
The integration, once cleared by regulators, is expected to strengthen BCIC’s market share, streamline service delivery, and reinforce its competitive position in Jamaica’s insurance landscape.
