GHL is a listed company on the Trinidad & Tobago and Jamaica Stock Exchanges. Two reputable local families (Lok Jack and Ahmad) together own approximately 32%. Royal Bank of Canada also has a 13% shareholding in GHL. The remaining shares are widely held by local investors consisting of trust companies, pension funds, private companies and individuals including GHL directors.

The proposed investment is for up to US$75 million in newly issued common shares of the Company, a leading insurance provider in Latin America and the Caribbean.

75.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	75.0

* These investment figures are indicative

GHL is headquartered in Port of Spain, Trinidad & Tobago and has offices in most Caribbean territories and the UK.

With IFC as an important shareholder, the Company is expected to strengthen its position as a leading insurance company in the region and to improve its prospects for expansion into new markets in order to obtain a more diversified exposure to weather risks, a wider customer base and stronger financial and operational capabilities. The project is expected to improve the growth potential of the Company, and therefore have strong development impact, including: (i) increased access to insurance products (e.g., life, property, casualty, etc.) in underserved regions such as the Caribbean and Central America; (ii) increased competition as the potential of this market segment is further revealed; and (iii) produce demonstration effects through resulting regional business process innovation.

Through this equity investment IFC can: (i) support the insurance industry in the region and increase its capitalization by investing in and fostering its relationship with a strong, regional financial institution (ii) help restore public confidence and assist in the stabilization of the regional insurance markets following the failure of two key companies; and (iii) assist in scaling up and enhancing the insurance sector in the region. IFC has a unique ability in this case to: (i) substantially strengthen the Company’s balance sheet at a time when other sources of equity financing are unavailable in the market, particularly in its home region (ii) act as an anchor investor, helping the Company mobilize additional financing and achieve an international stock market listing; (iii) provide knowledge and experience, enhancing the Company’s ability to expand into new markets in the Caribbean and Central America; and (iv) provide political risk mitigation as well as assume an honest broker role as a shareholder.

This is a category C project according to IFC''s environmental and social review procedure.