Following its acquisition of 100 per cent of the shares in Alliance Financial Services Limited, ASFL, in March, Sagicor Group Jamaica is also taking over the securities portfolio of Alliance Investment Management Limited, AIML, through subsidiary Sagicor Investments Jamaica Limited.

Sagicor Investments and AIML have signed a definitive agreement for the purchase of the dealer book, Sagicor Group announced on Monday, saying, subject to due diligence, the deal is expected to be completed over the next two months.

This is the second major move by Sagicor, which is into insurance, commercial banking, stock brokerage and investments, property development and management, pension funds and wealth management, to grow its business by taking over parts of the business of companies under the troubled Alliance brand. Although sharing the brand, AFSL and AIML are separate entities.