“GEL selling shares in Sagicor”

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Goddard Enterprises Limited (GEL) is easing further out of the financial sector in Barbados.

The Barbados conglomerate is selling its 45 per cent shareholding in Sagicor General Insurance Inc., having disposed of its 49 per cent stake in the former Globe Finance Inc. last year.

“Subsequent to the [financial] year-end, the Company signed an agreement to dispose of its 45 per cent shareholding in Sagicor General Insurance Inc,” GEL said as it reported on its performance for the year ended September 30, 2018.

Sagicor General is jointly owned by Sagicor Life Inc. and GEL and offers general insurance coverage for property, motor, accident, marine cargo and hull. (SC)

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