Minvielle & Chastanet Insurance Brokers (MCIB) is pleased to announce the transfer of its insurance portfolio in the Eastern Caribbean to CGM Gallagher Group (CGMG), effective August 11, 2014.

Speaking on the transaction, Peter Melhado, chair of CGMG, stated:{{more}} “We are absolutely delighted to be in a position to serve the customers of MCIB and look forward to bringing even more value to managing their risk through our Caribbean expertise combined with the international reach of our partner, Arthur J Gallagher & Co, one of the world’s largest insurance brokers.”

Anthony Ali, CEO of Goddard Enterprises Ltd, the ultimate parent of MCIB, observed: “This transaction allows MCIB’s customers the best possible service going forward and both Minvielle & Chastanet Ltd and the Goddard Group plan to remain involved in the early stages of the transfer of operations to ensure a seamless transition for our customers.”

CGMG has operated throughout the Caribbean from 2004 and has offices in Jamaica, Barbados, St Lucia, St Vincent and the Grenadines, St Kitts/Nevis, Grenada and now, Dominica and Antigua and Barbuda. It has over 150 employees and is the largest broker in the Caribbean. Its majority shareholder, Arthur J Gallagher & Co, is a large international insurance broker and risk management services firm, based in Itasca, Illinois, and was recognised by the Ethisphere Institute as one of the World’s Most Ethical Companies in 2014 for the third consecutive year.

Goddard Enterprises Ltd, parent of Minvielle & Chastanet Ltd, which in turn owns MCIB, is a large Caribbean-based conglomerate with interests in airline management, manufacturing, distribution, general insurance and tourism related services, agriculture and other sectors. It was formed in 1921, employs over 5,000 people and operates throughout the Caribbean and Latin America.