Eppley adds Beacon finance arm

EPPLEY Limited has acquired Trinidad-based NorthWest Premium Financing (NWPF) Limited, effectively bringing a finance business previously housed under Beacon Insurance into another arm of the Musson Group as the conglomerate continues to reshape its regional financial services operations.

The acquisition, disclosed in a notice posted on the Jamaica Stock Exchange, gives Eppley control of a business that provides insurance premium financing and other speciality loans in Trinidad and Tobago and Grenada. Premium financing allows policyholders to borrow the cost of an insurance premium upfront and repay the amount over instalments rather than making a single annual payment.

Commenting on the acquisition, Eppley CEO Raymond Donaldson said: “Eppley is already a leading Caribbean investment business. This acquisition further expands our presence across the region. We look forward to leveraging Eppley’s team, investment philosophy, and platform to build upon the solid foundation at NWPF.”

While Eppley did not disclose the purchase price or other terms of the transaction, the company said in its recently released six-month results that the acquisition had already been completed by the end of June and was contributing positively to interest income.

The deal also appears to have significantly expanded Eppley’s existing premium financing business. Insurance premium financing receivables stood at $276.5 million at June 30, up sharply from $18.8 million at the end of December 2025 and $28 million a year earlier.

NorthWest was previously a wholly owned subsidiary of Beacon Insurance Company Limited, which itself joined the Musson Group after Musson (Jamaica) Limited acquired 100 per cent of the Trinidad-based insurer effective October 31, 2025. Beacon is now slated to amalgamate with General Accident Insurance Company Trinidad and Tobago Limited, subject to regulatory approval. The amalgamated company is expected to remain wholly owned by Musson.

The NorthWest transaction, therefore, places the premium financing company within the wider Musson network, although Eppley has not disclosed the seller or said whether the acquisition formed part of the restructuring now taking place around Beacon and General Accident.

The Business Observer sought additional information from Eppley on the transaction and its plans for NorthWest, but no response had been received up to press time.

Premium financing is not a new line of business for Eppley. The company lists insurance premium financing among its principal credit activities, alongside lease and loan financing and asset management.

At the end of June, Eppley’s proprietary investment portfolio stood at approximately $24.2 billion, spanning cash, operating leases, loan and lease receivables, and strategic holdings across mezzanine credit, real estate, infrastructure and asset management.

Eppley has identified NorthWest as one of the businesses it intends to grow in the second half of the year, saying the acquisition strengthens its insurance premium financing business and expands its presence in Trinidad and Tobago.

The acquisition comes as Eppley continues to expand its balance sheet and investment income. Gross investment income increased 13 per cent to $888.1 million for the first six months of 2026, while net investment income rose to $550.2 million from $441.2 million a year earlier. Net profit increased 11 per cent to $454.9 million, with $259.2 million attributable to Eppley shareholders.

The company had $1.5 billion in cash and deposits at June 30 and said it continued to maintain liquidity to fund its investment pipeline and take advantage of new opportunities.