Re­pub­lic Fi­nan­cial Hold­ings Ltd (RFHL) has grant­ed ap­proval for its whol­ly owned sub­sidiary, Re­pub­lic Evolve Ltd’s reg­is­tra­tion as a long-term in­sur­ance com­pa­ny to con­duct the life in­sur­ance class of busi­ness on­ly.

The ap­proval was grant­ed by the Cen­tral Bank on Au­gust 16.

Re­pub­lic Evolve Ltd said it ex­pects to com­mence of­fer­ing its first life in­sur­ance prod­ucts with­in 12 months.

“This is a ma­jor mile­stone for the RFHL Group and sup­ports our on­go­ing strate­gic ex­pan­sion of the range of prod­ucts of­fered un­der the Re­pub­lic brand,” said Nigel Bap­tiste, pres­i­dent and CEO of RFHL.

He added that he was al­so ex­treme­ly ex­cit­ed by this new op­por­tu­ni­ty for the Re­pub­lic fam­i­ly and looked for­ward to the launch of its suite of life in­sur­ance prod­ucts as the or­gan­i­sa­tion seeks to bet­ter serve the needs of its many clients.