CAYMAN NATIONAL CORPORATION LTD. ANNOUNCES SALE OF JOINT VENTURE
| Date | 17-Jun-2010 |
|---|---|
|
George
Town, Grand Cayman, Cayman Islands – 17 June 2010 -- Cayman National Corporation Ltd. (CSX:
CNC KY) (CNC) announced that effective 26 May 2010, it has sold its interest in
Aon Cayman National Insurance Brokers Ltd. (ACNIB) to its joint venture partner,
Aon Insurance Managers (Cayman) Ltd. (Aon). CNC
and Aon entered into the joint venture in November 2006. CNC President and Chief Executive,
Stuart Dack, commented that CNC desired to focus on its core businesses of
providing the financial services of banking, wealth management, trust and
company administration, and fund services.
“The joint venture with Aon worked well, and we will continue to have a
prosperous and healthy relationship with Aon in the
future.” The
sale of CNC’s interest in ACNIB will not have any material impact on
CNC. #
# # About
Cayman National Cayman
National Corporation Ltd. is the largest financial services company based in the
Cayman Islands, providing banking, trust and company management, fund
administration, and wealth management, to clients locally and around the world,
from the Cayman Islands and the Isle of Man, with representative offices in
Dubai and Panama. CNC is publicly
traded on the Cayman Islands Stock Exchange. Contact: |