GraceKennedy is to acquire 100 per cent of Scotia Insurance Caribbean's business.
GK announced the deal Tuesday, however it is still subject to regulatory approval.
Scotia Insurance Caribbean operates in Barbados, Belize, British Virgin Islands, Cayman Islands and Turks & Caicos Islands.
The announcement comes exactly one year after GK's acquisition of Scotia Insurance Eastern Caribbean.
The entity was later rebranded to GK Life Insurance Eastern Caribbean.
The acquisition will bring GK's life insurance business to 12 markets in the region.
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