On Au­gust 16, the Cen­tral Bank of T&T grant­ed Re­pub­lic Fi­nan­cial Hold­ings Ltd (RFHL) ap­proval for its whol­ly owned sub­sidiary, Re­pub­lic Evolve Ltd to be reg­is­tered as a long-term in­sur­ance com­pa­ny to con­duct the life in­sur­ance class of busi­ness on­ly.

Ef­fec­tive Sep­tem­ber 15 Re­pub­lic Evolve Ltd (Re­pub­lic Evolve) be­came known as Re­pub­lic Life In­sur­ance Com­pa­ny Ltd (Re­pub­lic Life).

“The move in­to the in­sur­ance sec­tor is a ma­jor mile­stone for the RFHL Group and sup­ports the com­pa­ny’s on­go­ing strate­gic ex­pan­sion of the range of prod­ucts of­fered un­der the Re­pub­lic brand,” a re­lease from RFHL stat­ed yes­ter­day.

Speak­ing on the oc­ca­sion of the name change, Nigel Bap­tiste, pres­i­dent and CEO of RFHL, said “I am ex­treme­ly ex­cit­ed by this new op­por­tu­ni­ty for the Re­pub­lic Fam­i­ly and look for­ward to the launch of our suite of life in­sur­ance prod­ucts as we seek to bet­ter serve the needs of our many clients.”

When RFHL an­nounced its en­trance in­to in­sur­ance, it stat­ed that it ex­pect to com­mence of­fer­ing its first life in­sur­ance prod­ucts with­in 12 months.