February 19th 2026.
ICBL has announced its decision to discontinue writing new Individual Life and Individual Health insurance business.
This decision follows a comprehensive strategic review of the business portfolios, which forms part of a broader capital optimization and business-focused initiative, designed to strengthen the Company’s long-term financial resilience. The review included a detailed analysis of market conditions and long-term shareholder value considerations. ICBL emphasises that this decision does NOT affect existing policyholders’ contractual rights, and wishes to highlight the following:
The existing Individual Life and Individual Health portfolios will be placed into an orderly run-off.
All existing Individual Life and Individual Health policies remain fully valid and in force until expiry or maturity.
All contractual benefits will continue to be honoured in accordance with policy terms.
Claims will continue to be processed and paid in the normal course of business.
Customer service and policy administration functions will remain fully operational. Policyholders will receive direct written communication providing further clarification and reassurance.
Please note that ALL other lines of business, including Group Life, Group Health, Creditor Life, Motor, Property, Liability, and Marine, will continue to be managed as usual.
Additionally, the Company has engaged with the Financial Services Commission (FSC) and will continue to operate in full compliance with the Insurance Act of Barbados and all applicable regulatory requirements. The run-off process will be governed by appropriate actuarial oversight, statutory reserve maintenance, and ongoing solvency monitoring.
The Company remains firmly committed to all its stakeholders. It will continue to deliver innovative insurance solutions across its core business lines, ensuring its sustainability in an ever-evolving operating environment.
