SFC 2017 Q2 Financial Results - Sagicor Life USA

Sagicor Financial Corporation 2017 Q2 Financial Results

August 10, 2017

The Sagicor Group maintained its solid performance from the first quarter into the second Quarter. Group net income was US $41.1 million for the six months ended June 30, 2017, compared to the prior year result of US $34.1 million, an increase of US $7.0 million or 21%.

Net income attributable to shareholders was US $19.0 million, compared to the prior year result of US $16.7 million, an improvement of US $2.3 million or 14%. Earnings per common share was US 6.3 cents compared to the prior year result of US 5.2 cents.

Total revenue amounted to US $562.6 million, compared to US $553.0 million for the corresponding period in 2016, an increase of US $9.6 million. Net premium revenue stood at US $340.1 million, and exceeded the prior year amount of US $318.8 million, an increase of US $21.3 million. Net investment income and other income closed at US $222.5 million compared to the prior year amount of US $234.3 million, the change resulted from lower realised investment gains when compared to the prior year.

Benefits amounted to US $278.0 million for the period, compared to US $294.8 million for the previous year, a reduction of US $16.8 million and was impacted by experience gains and actuarial refinements.

Download PDF

Copyright © 2019 Sagicor. All rights reserved.