Sagicor Financial Corporation

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Sagicor Financial Corporation
Publicly Owned
Industry Financial services
Genre Financial Services
Headquarters Barbados
Area served
Latin America & the Caribbean
Key people
Dodridge Miller, chairman and CEO
Richard M. Kellman, Chief Operating Officer
Services Wealth management, Insurance, Commercial Banking
Increase US$39.3 million (as at September 30, 2013)[1]
Total assets Increase US$5.78 billion (as at September 30, 2013)
Divisions Sagicor Group Jamaica
Sagicor Panama
Sagicor Capital Life
Website www.sagicor.com

Sagicor Financial Corporation, traded as BSE: SFC LSESFI, is a financial services conglomerate operating in Latin America and the Caribbean region. [2]

History[edit]

In 1849, Barbados Mutual Life Assurance Society was established and for fifty branches of the organization were opened in St Vincent, Trinidad and Tobago, Grenada, St Kitts, Antigua, Montserrat, Jamaica and Guyana. After over 150 years of operations throughout the Caribbean, the Barbados Mutual Life Assurance Society acquired interest in, and established a number of companies including, Mutual Bank of the Caribbean, Capital International Management Service and Island Life in Jamaica.[3]

In 2002, the Barbados Mutual Life Assurance Society was resolved and converted to Sagicor Life Inc and established, Sagicor Financial Corporation, which became the company's holding company. Sagicor FInancial Corporation was listed on the Barbados Stock Exchange in 2003 and in 2004, the company was listed on the Trinidad & Tobago Stock Exchange.

The company had a successful US$150 million bond offering on the US market, in 2006 and Sagicor Life Inc was assigned a Standard and Poor’s (S&P) financial strength rating of “BBB+”.

In 2007, Sagicor was listed on the London Stock Exchange and the company established Sagicor Europe Ltd.

In 2008, Sagicor Financial Corporation, rebranded its insurance company, Life of Jamaica, to Sagicor Life Jamaica Limited. In addition, the company was listed on the Jamaica Stock Exchange.

In 2014, the Royal Bank of Canada decided to cut its losses in Jamaica and sold its Jamaican banking assets to Sagicor Group Jamaica Ltd.[4][5]

Affiliated companies[edit]

Sagicor Financial (Formerly Life of Barbados) building along the ABC Highway.

Sagicor Financial Corporation comprises several affiliated companies:

  • Sagicor Group Jamaica (comprising Sagicor Life Jamaica, Sagicor Bank Jamaica, Sagicor Investments Jamaica, Employee Benefits Administrators, Sagicor Property Services, Sagicor Insurance Brokers, Sagicor Life of the Cayman Islands, Sagicor Costa Rica, and Sagicor Real Estate X Fund, among others)
  • GlobE Finance
  • Sagicor Panama
  • Sagicor Capital Life
  • Sagicor General
  • Sagicor Life

See also[edit]

References[edit]

External links[edit]