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Sale of Fidelity Pension & Insurance Businesses

Sale of Fidelity Pension & Insurance Businesses

Fidelity Bank Announces Sale of Pension and Insurance Businesses

After 40 years of successful growth and expansion within the Cayman Islands, Fidelity Bank announces that it has undergone a corporate restructuring resulting in the sale of the Fidelity Pension Services and Fidelity Insurance businesses.

This means that Fidelity Bank is once again just that – a bank.

Fidelity Bank’s Cayman-based management and administration teams remain in place with the company, with a renewed focus to bring you a better banking experience.

Fidelity Bank’s heritage in the Cayman community spans over 40 years where it has prided itself on providing members with a personalised approach when it comes to planning their financial future. This sale allows Fidelity Bank to now focus exclusively on its core business and further enhance the service provided to banking customers in the Cayman Islands.

Fidelity Bank customers will still access all the same services from its West Bay Road and Dr Roy’s Drive locations.

 

Sale of Fidelity Pension Services

 

RF Holdings Limited, the parent company of RF Group, acquired Fidelity Pension Services (trustee and administrator of the Fidelity Pension Plan) on 31 December 2019. The Bahamas-based RF Group has provided accounting and administration support services to the Fidelity Pension Plan since its inception in 2004.

Although payment of pension contributions can still be accepted by Fidelity Bank, it is unable to handle any queries related to a member’s holdings in the Fidelity Pension Plan.

 

Sale of Fidelity Insurance

Regional insurance groups Royal Star Assurance and Guardian General Insurance jointly acquired Fidelity Insurance on 30 September 2019. Fidelity Insurance is a leading broker in the Cayman Islands market and has been in operation for over 35 years providing an array of general and health insurance solutions to individuals and companies.


Although payment of insurance premiums can still be accepted by Fidelity Bank, it is unable to handle any queries related to policies held through Fidelity Insurance.

Contact information and further details for the Fidelity Pension Plan can now be found at www.royalfidelity.com/caymanislands, and at  www.fidelitygroup.com/caymanislands/fidelity-general-insurance for Fidelity Insurance.