News Release: HAMILTON, Bermuda – Bermuda-based Colonial Group International has adopted a new corporate identity for all its operations, which extend from Bermuda to the Caribbean.
From October 5, the group’s legal name is now Coralisle Group Ltd, with all companies in the group operating under the brand CG.
Colonial Medical Insurance Company Limited, for example, becomes Coralisle Medical Insurance Company Ltd. with its
operations in Bermuda, Barbados, BVI and Turks & Caicos, trading as CG Insurance.
In Cayman, the name change will see CG companies operate under the banner CG Britcay.
In The Bahamas, the name change will see companies operate under the banner CG Atlantic. Atlantic Medical Insurance Limited, for example, will trade as CG Atlantic Medical & Life, and Security and General Insurance Company Limited will trade as CG Atlantic General.
Coralisle Group 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said: “the Colonial name has served the group well for more than 60 years, but we believe its historical provenance no longer represents who we are or what we stand for as a group in the 21st Century.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 CEO, 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.”
- About Coralisle Group Ltd: Coralisle Group Ltd. is a Bermuda-based holding company for the Coralisle Group of Companies (the “Group”), which has commercial operations in Bermuda, the Cayman Islands, The Bahamas, the British Virgin Islands, Barbados and the Turks and Caicos Islands. The Group comprises independently incorporated companies in these jurisdictions offering property and casualty insurance, employee benefits for pensions and health, life assurance and personal investment products and has received an A (Excellent) rating from AM Best. Coralisle Group currently manages approximately US$400 million of premium and contributions each year with Group shareholders’ equity in excess of US$270 million and manages nearly US$700m of pension funds. The Group draws commercial strength from the cohesion of a group of companies accessing a variety of skills, experience and local knowledge in different jurisdictions.