News Release — Toronto and Barbados, November 15, 2021
Sagicor Financial Company Ltd. (TSX: SFC), a leading financial services provider in the Caribbean with a growing presence in the U.S., announced its results for the third quarter ended September 30, 2021. Highlights include: total net revenue of $781.9 million in Q3, an increase of 94% year over year; net insurance premiums of $623.5 million in Q3, up 135% year over year; net income to shareholders of $50.4 million in Q3; earnings per share of US$0.349 or C$0.437 in Q3; and a dividend of US$0.05625 per common share to be paid during the fourth quarter.
Dodridge Miller, Group President and Chief Executive Officer, said: “Sagicor is pleased to announce an excellent quarter of profitability and growth. Once again, Sagicor Life USA posted a very strong quarter reflecting continued progress in our U.S. strategy as that business grows towards scale. Sagicor Jamaica also grew compared to Q3 2020 underpinned by new life insurance sales and positive emergence from our actuarial reserves. Sagicor Life, our southern Caribbean segment, delivered good profitability despite lockdowns from the pandemic across select markets. In addition to our strong performance, we reached yet another milestone as our total assets surpassed $10 billion for the first time in our Group’s history.”