Guardian Holdings Limited (GHL), the insurance subsidiary of NCB Group, is selling its insurance company, Thoma Exploitatie BV in The Netherlands.

The Board of Directors of GHL on November 19, 2024, approved the execution of a sale and purchase agreement with PIB Group Limited for the sale of all its 100 per cent equity in Thoma Exploitatie BV 

Thoma Exploitatie BV  is Guardian Group Fatum’s Insurance Brokerage business in the Netherlands. The transaction is to be effected through a closed sale process, which aligns with the efforts of NCB and Guardian to enhance shareholder value. 

The transaction is subject to regulatory approval in the Netherlands. GHL, which is based in Trinidad and Tobago reported a profit attributable to equity shareholders of TT$197 million for the third quarter ended September 30, reflecting a 132 per cent increase compared to the corresponding period last year.

Compared to the prior quarter this year, third-quarter profits surpassed second-quarter performance by TT$30 million or 18 per cent mainly 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.