The Company - Insurance Corporation of Barbados Limited

The Insurance Corporation of Barbados Limited (ICBL) is the successor company to Insurance Corporation of Barbados.  On December 6, 2000 the operations of the former company were vested in ICBL through an Act of Parliament.  The Company continues to offer all classes of insurance covered by its predecessor.  This includes Individual and Group Life and Medical Insurance, Annuities, Pensions and Pension Management, Creditor Life, Property, Liability, Accident, Sickness, Motor, Marine and Aviation and Transit insurance.

The Company's shares are traded on the Barbados Stock Exchange, and there are over 2200 shareholders.  BF&M Limited in Bermuda, through its wholly owned subsidiary, Hamilton Financial Limited, domiciled in St Lucia, is the major shareholder with approximately 51.7% interest in the issued and outstanding shares of the Company while the other shares are owned by institutional  and individual investors.

The Company has a financial strength rating of A- (Excellent) and an issuer credit rating of "a" by rating agency A M Best Company Inc.

The predecessor Company was established in 1978 by an Act of Parliament (Insurance Corporation of Barbados Act Chapter 311 which took over the portfolio of the Standing Insurance Committee.  This Committee was responsible for insuring government properties and settling liabilities incurred by the Crown.  At the time of its establishment, the Government felt that having a Barbadian owned company would help to reduce the outflow of foreign exchange which was being sent to international companies that had agencies in Barbados.