Guardian Holdings Limited

completed

The project entails an IFC investment of up to $50 million in the form of a long-term subordinated loan to support the medium-term growth strategy of Guardian Holdings Ltd. (“GHL”), an insurer headquartered in Trinidad & Tobago. The expansion involves entering the less developed Central America/Caribbean Basin markets where GHL will focus on growing its life insurance business. GHL will also expand its domestic asset management business in Trinidad & Tobago and regionally. Moreover, GHL plans to further integrate its back-office operations and to extract operating efficiencies from recent and future expansion.GHL is one of the three largest Caribbean insurers with consolidated revenues of $580 million, net income of $93 million, total assets of $2,185 million, and shareholders’ equity of $502 million in 2004. GHL’s operational subsidiaries and joint ventures are engaged in the underwriting of long-term life insurance, non-life insurance, and associated investment activities. The life insurance business traces its origins to 1847. GHL’s flagship Trinidad & Tobago life insurance and P&C subsidiaries are rated A (“Excellent”) and B++ (“Very Good”), respectively, by A.M. Best. These place them in the top quartile of global peers in terms of financial strength and the ability to meet obligations to policyholders.