Guardian starts restructuring group

GUARDIAN Holdings Limited (GHL) has begun reorganising ownership interests within its group after receiving initial regulatory clearance for a restructuring designed to separate its financial and non-financial businesses.

The first phase took effect on October 10, following a letter of non-objection from the Central Bank of Trinidad and Tobago (CBTT), according to an October 14 shareholder notice published through the stock exchange. The development advances plans announced in May to establish a financial holding company within the regional group.

Guardian Insurance Limited, the subsidiary earmarked to take on that role, has been renamed Guardian Group Financial Holdings Limited (GGFHL). It remains wholly owned by GHL, which continues as the overall parent listed on the Jamaica and Trinidad and Tobago stock exchanges.