Sign up for The Gleaner’s morning and evening newsletters. “Having culminated this deal successfully, we would be excited about any opportunity that comes forth within Jamaica and regionally,” Craig, the former CEO of Billy Craig Insurance Brokers, said about the prospect of landing licensed brokerage business elsewhere in the region.
We felt that together we could achieve our goals of becoming a larger regional broker,” William Craig, BCMG’s executive chairman, told the Financial Gleaner in a joint interview with Thomas Smith, the company’s CEO. Discussions began in earnest in 2019, because we recognised the similarities in the operational culture of both organisations. “We had been looking at opportunities over many years. That arrangement will continue with BCMG.
The merger places the new company in a position to capitalise on the partnership network that 58-year-old Billy Craig Insurance has built across the Caribbean, to scope out an even bigger share of the local and regional insurance brokerage business, its principals say.īilly Craig Insurance has been for many years the official correspondent in Jamaica for Aon PLC, the London-based global professional services company that provides risk, retirement and health insurance consulting for mainly large multinational companies operating in several countries. BCMG Insurance Brokers Limited is among the newest intermediaries in the Jamaican insurance marketplace, but the company, born of the July 1 merger of once-rival insurance brokers Billy Craig and MGI, has many years in the business, a formidable portfolio and strengthened asset base under its belt.