Nassau, The Bahamas, April 26, 2025 – Colina Holdings Bahamas Limited (CHBL) has announced its purchase of 100% of the shares of Saxon Group of companies, encompassing the insurance and pension administration entities, effective April 24, 2025.

“This acquisition significantly expands our footprint in the Cayman market, and we are grateful to Saxon’s shareholders for their trust and support throughout the process,” said Terence Hilts, Chairman of CHBL.

Founded in 2011, Saxon Motor and General Insurance Company is a Class A Property and Casualty insurer in the Cayman Islands, specializing in auto insurance with ~25% of the private auto Insurance market share; also providing coverage for liability, property and other risks.

Saxon Administration offers services to Cayman registered Pension plans and has over US$1.5B in assets under administration.

“By integrating Saxon’s keen market knowledge and CHBL’s expertise, we will deliver even greater value to our customers and shareholders,” said Hilts.

CHBL is a holding company, built on a firm foundation of trust, integrity and responsibility. Incorporated in 1993, CHBL has over B$800 million in total assets and over B$200 million in total shareholders’ equity. Its subsidiaries include Colina Insurance Limited (CIL), Colina Financial Advisors Ltd. (CFAL), Colina General Insurance Agency & Brokers Limited, Colina Real Estate Fund Ltd., Indigo Insurance (Bahamas) Limited and Indigo Insurance (Cayman) Limited.

“Joining a larger group will allow us to enhance our services and expand our offerings, to better serve our valued clients, and the plan members,” said Jack Leeland, CEO, Saxon. “This change in ownership is also an exciting time for team members and will create enhanced opportunities for career growth and personal development.”

CHBL has confirmed that Saxon’s current management and staff will remain an integral part of the business, ensuring continuity while leveraging our experience and expertise.

“We are committed to Saxon’s growth and welcome all of its employees to the CHBL family,” said Hilts.

CHBL’s flagship CIL currently dominates the life and health insurance market in The Bahamas. Its Bahamas-based subsidiary, CFAL, is an investment advisory firm entrusted with the management and administration of more than B$ 2.8 billion in assets, including pensions. In past years, the Company has been focused on intensifying its general insurance footprint; making significant investments to modernize and upgrade its operational infrastructure, revamping and revitalizing CGIA while evolutionizing the customer experience through its launch of tech-driven Indigo in The Bahamas and Cayman markets.

Meanwhile, the Saxon group of companies has leveraged technology and best-in-class customer service to become a market leader in the Cayman Islands.

“We are excited about the opportunities this new partnership brings; together, we will set new standards of excellence across the region,” Hilts concluded.