Tuesday, April 16, 2024

Two insurance companies merge

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A major Barbados insurance industry merger pursued since 2019 has been completed.

Longstanding entities Brydens Insurance and Trident Insurance Company have officially amalgamated under the brand name Trident Insurance.

But while signaling that his organisation intended to grow its market share, chief executive officer (CEO) David Alleyne made it clear Trident would be doing so by offering enhanced service and products, not undercutting its competitors with cheap and unsustainable prices.

In an interview with the Weekend Nation, Alleyne said, “I wouldn’t sit here and tell you that Trident doesn’t want to grow, we want to grow but we want to grow by doing certain things right. We are not going to be charging the lowest rates in the market to undercut the market, we are not going to be doing that.

“We have to pay our claims, we have to have the right and adequate amount of reinsurance, we have to pay our people properly. You cannot do those things and be the cheapest guy on the block. So we want to grow, but we want people to come to Trident because they will get the best service in this market place. (SC)

 

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