Lo­cal fi­nan­cial gi­ant, Guardian Hold­ings Ltd (GHL), yes­ter­day an­nounced that its board of di­rec­tors had ap­proved the ac­qui­si­tion of the pen­sion fund man­age­ment port­fo­lio of NCB In­sur­ance Agency & Fund Man­age­ment Ltd on Ju­ly 11.

The pen­sion fund man­age­ment port­fo­lio was ac­quired by Guardian Life Ltd (GLL), which is GHL’s life, health and pen­sion busi­ness based in Ja­maica.

The trans­ac­tion in­volves re­lat­ed par­ties as NCB Fi­nan­cial Group (NCBFG) owns 61.77 per cent of GHL and 100 per cent of NCB In­sur­ance Agency & Fund Man­age­ment Ltd.