JN Nearing Deal to Sell Insurance Arm to BCIC

The JN Financial Group says it’s currently in the advanced stages of an agreement concerning the transfer of ownership of JN General Insurance Company Limited, JNGI to leading general insurer, BCIC.

The two companies have agreed on the key terms of the deal and have informed their employees.

JN says business continues as normal at all JNGI locations and clients will be unaffected by the pending change.

JN says JNGI remains financially strong, with solid reinsurance agreements and the company is able to meet its financial obligations.

The acquisition is subject to regulatory approval which the companies have indicated they expect to receive and finalise the agreement in the weeks ahead.