Colonial Fire and General Insurance Company Limited, COLFIRE, and Trinidad and Tobago Insurance Limited, TATIL, are proposing to amalgamate into a single company, subject to regulatory approval from the Central Bank of Trinidad and Tobago.
The update was communicated to policyholders in an email issued by the companies on Thursday.
The proposed amalgamation is the latest step in a transaction that began in 2021, when TATIL entered into an agreement to acquire COLFIRE from CL Financial, which was then in liquidation.
The acquisition received regulatory approval in 2022 and was completed in February 2023, with TATIL ultimately acquiring full ownership of COLFIRE.
The companies are now proposing to formally bring the two businesses together, with the stated objectives of strengthening financial stability, improving operational efficiency, enhancing customer service and claims handling, and expanding insurance offerings.
If approved, the amalgamated company will operate under the legal name Trinidad and Tobago Insurance Limited. However, both the COLFIRE and TATIL brands will remain visible in the marketplace.
Policyholders are being assured that their existing policies, coverage, benefits, terms and conditions will remain unchanged. All current and future claims will continue to be honoured, and no action is required from policyholders at this time.
The amalgamation is expected to take effect on January 1st, 2027, at which point TATIL will assume all rights, obligations and liabilities related to both companies’ general insurance policies.
Policyholders and shareholders may inspect the Scheme of Amalgamation and related documents at TATIL’s Maraval Road office or COLFIRE’s Duke and Abercromby Street location from September 11th to October 2nd, 2026.
Persons wishing to object to the proposed amalgamation may submit written objections to the Central Bank, COLFIRE or TATIL within the prescribed period.