Sagicor Financial Stock

Sagicor Financial Company Ltd. and its subsidiaries operate as a financial services provider. The company operates across the Caribbean and in the United States of America (U.S.A.)

The principal activities of the company are life and health insurance, annuities and pension administration services, and banking and investment management services. Its principal operating companies are Sagicor Life Inc. (Barbados and Trinidad & Tobago), Sagicor Life Jamaica Limited (Jamaica), Sagicor Bank Jamaica Limited (Jamaica), and Sagicor Life Insurance Company (USA). The company also underwrites property and casualty insurance and provides hospitality services.

The company offers a range of products and services, including life and health insurance, annuities, pension administration, property and casualty insurance, asset management, investment and merchant banking, securities brokerage, mutual funds and real estate development, and commercial banking. The company’s principal markets are Barbados, Jamaica, Trinidad and Tobago, and the U.S.A. The company operates in 22 countries.

Segments

The company operates its business primarily through its three reporting operating segments: Sagicor Life, Sagicor Jamaica, and Sagicor Life USA.

Sagicor Life

This segment conducts life, health insurance, property and casualty insurance, pensions, annuities, and asset management service in Barbados, Trinidad and Tobago, Eastern Caribbean, Dutch Caribbean, Bahamas and Central America. Sagicor Life has a diversified customer base providing financial solutions to both individuals and corporations through mainly a captive distribution network, and local brokers.

Sagicor Jamaica

This segment offers life, health, annuity, property and casualty insurance, pension administration services, commercial banking, investment banking, hospitality and real estate investment services in the markets of Jamaica, Cayman Islands and Costa Rica. Sagicor Jamaica’s commercial banking services are offered through a network of sixteen branches. This segment includes Sagicor Life Jamaica Limited, a life insurance subsidiary.

In September 2019, the Sagicor Jamaica segment acquired 60% of the share capital of Advantage General Insurance Company Limited.

Sagicor Life USA

This segment, including Sagicor USA, Inc. and its operating entity, Sagicor Life Insurance Company, (collectively, Sagicor USA), operates in 45 states and the District of Columbia. Sagicor USA focuses on providing life and annuity products to middle market America through independent producers and direct-to-consumer platforms (SagicorNOW.com and PeaceAssured.com). Middle market America has been defined broadly as individuals and families with household incomes of $40,000 to $100,000 or retirees or near-retirees with retirement portfolios of $100,000 to $1,000,000. Sagicor USA’s products can be broadly placed in three categories, such as:

Periodic Premium – This would include products, such as several variations of term insurance, non-participating whole life, indexed universal life and no-lapse universal life. All of these products usually allow the owner to pay premiums on a monthly, quarterly, or annual basis.

Single Premium Life – This category includes two products developed to support an older demographic who are looking principally to provide a larger legacy upon their death, while having access to funds to assist if they need critical care. The company offers a standard interest crediting whole life product, as well as an indexed universal life product.

Annuities –All of Sagicor USA’s annuity offerings are single premium products, including such products as multi-year guaranteed, fixed interest crediting, indexed crediting, as well as immediate annuities. Most of the products are focused on helping the customer accumulate assets with little to no market risk to their initial premium.

Sagicor USA worked with approximately 5,570 independent agents in 2018 and 6,750 independent agents in 2019 across the United States.

History

Sagicor Financial Company Ltd. was founded in 1840.