Massy Holdings exits insurance business

AS the group continues to rationalise itself from a conglomerate of companies to investment portfolio management, Massy Holdings Limited has announced the sale of its Massy United Insurance Limited (MUI) subsidiary to Bermuda-based Coralisle Group Limited for US$90.5 million ($13.67 billion).

Massy is a Trinidad-based conglomerate with numerous business operations across the Caribbean. Since 2018 the company has been focused on supporting its autonomous business portfolios in the areas of integrated retail, motors & machines and gas products. This has seen it dispose of various subsidiaries, with its latest announcement being on MUI which comprises the property and casualty insurance business line under its financial services segment.

https://www.jamaicaobserver.com/business-report-daily-biz/massy-holdings-exits-insurance-business_230702?profile=1056