The Tribune

Two Bahamian insurance companies will today take on new names as part of a rebranding strategy by their Bermuda-based parent.

Colonial Group International, in a statement, said the new corporate identity adopted for all its operations will see its Bahamian affiliates operate under the CG Atlantic brand. Atlantic Medical Insurance will trade as CG Atlantic Medical & Life, while Security and General Insurance Company becomes CG Atlantic General.

Colonial Group’s legal name is now Coralisle Group Ltd, hence the CG brand. Colonial Medical Insurance Company, for example, becomes Coralisle Medical Insurance Company, with its operations in Bermuda, Barbados, the British Virgin Islands (BVI) and Turks & Caicos trading as CG Insurance. In the Cayman Islands, the name change will see the CG companies operate under the banner CG Britcay.

Coralisle Group’s chairman, Dr Grant Gibbons, said: “The Colonial name has served the group well for more than 60 years, but we believe its historical provenance no longer represents who we are or what we stand for as a group in the 21st century.

“We started out in the 1950s as a Bermuda company providing local insurance, and have grown since then into a multinational concern serving diverse markets across the Caribbean. The name change positions us to project a unified brand identity that facilitates recognition and growth in new markets, while building and expanding our business in current markets.”

Naz Farrow, CG’s president and chief executive, said: “CG’s growth across decades in diverse markets had been achieved through a commitment to providing people with products and services that make their lives better and more secure.

“CG’s philosophy starts with putting people first, and the name change will strengthen our ability to reach people needing insurance solutions. We’re excited about the change because it positions CG for the next chapter in our story as the premier insurance provider from Bermuda to the Caribbean.”