As­suria NV has ac­quired a sec­ond in­sur­ance com­pa­ny in Trinidad and To­ba­go.In a no­tice to share­hold­ers, the com­pa­ny an­nounced its 77 per cent share­hold­ing in Mega In­sur­ance Com­pa­ny (MIC) with an ac­qui­si­tion of 15,791,682 of the com­pa­ny's is­sued shares. "Fol­low­ing As­suria NV of­fer dat­ed No­vem­ber 11, 2014 to pur­chase 18,183,334 or­di­nary shares or 89 per cent of the is­sued and out­stand­ing shares of Mega In­sur­ance Com­pa­ny Ltd and Mega's di­rec­tors cir­cu­lar of De­cem­ber 19, 2014, As­suria suc­cess­ful­ly ac­quired 15,791,682 shares," the com­pa­ny said

This fol­lows As­suria's ac­qui­si­tion of an­oth­er lo­cal com­pa­ny, Gulf In­sur­ance Ltd, in April 2013.On Jan­u­ary 22, Lind­say Gillette, Paul Vi­lain, In­der­jeet Be­har­ry and Er­rol Cheong re­signed as di­rec­tors of MIC.In a state­ment to the me­dia on Fri­day, As­suria said the re­main­ing shares amount­ing to 23 per cent are be­ing held by share­hold­ers."With this ac­qui­si­tion, As­suria has strength­ened its in­vest­ment po­si­tion in T&T, hav­ing ac­quired 100 per cent of Gulf In­sur­ance Ltd–a provider of gen­er­al in­sur­ance ser­vices–in April 2013.

As­suria re­gards the ac­quir­ing of Mega's shares as strate­gic to its T&T and Caribbean re­gion­al de­vel­op­ment strat­e­gy," the com­pa­ny said.

The new chair­man of the MIC, Stephen Smit, al­so holds the po­si­tion of CEO of As­suria NV. Oth­er mem­bers of the board are Ar­mand Achaibers­ing, chief fi­nan­cial of­fi­cer, As­suria NV; Nario Mer­hai, chief com­mer­cial of­fi­cer, As­suria NV; Suniel Nand­per­sad, deputy di­rec­tor, For­eign Op­er­a­tions, As­suria NV; Ja­son Clarke, CEO, Gulf In­sur­ance Ltd; Mar­tin Jim, fi­nan­cial con­sul­tant; An­gela Lee Loy, CEO, Aegis Ltd; Al­bert Tom Yew, CEO, Mega In­sur­ance Com­pa­ny.