Durrant Pate/Contributor

Trinidad-based regional insurance giant Guardian Holdings Limited has completed the sale of its insurance company, Thoma Exploitatie BV in The Netherlands.

The multi-million dollar transaction was successfully concluded on Friday, January 24. Last November, Our Today reported that the Guardian Board of Directors, on November 19, 2024, approved the execution of a Sale and Purchase Agreement with PIB Group Limited for the divestment of its 100 per cent of the shares in Thoma Exploitatie B.V. 

This sale will result in a record gain being reflected in Guardian’s consolidated financial results in the first quarter, aligning with the company’s commitment to deliver value to shareholders.

In its September 2024, Guardian reported profit attributable to equity shareholders of TT$197 million, reflecting a 132 per cent increase compared to the corresponding period of 2023.

This was due to higher net income from investing activities and lower net insurance finance expenses offset by lower insurance service results, higher operating expenses and higher taxation.

Thoma Exploitatie BV is Guardian Group Fatum’s Insurance Brokerage business in the Netherlands.