Sagicor Financial Corporation 2017 Q1 Financial Results
The Sagicor Group recorded a solid performance for the first three months to March 31, 2017. Group net income was US $23.4 million for the period, compared to the prior year result of US $22.3 million. Net income attributable to shareholders was US $13.3 million, compared to the prior year result of US $13.9 million. Earnings per common share was US 4.4 cents, compared to the prior year result of US 4.6 cents.
Total revenue amounted to US $282.5 million, compared to US $264.4 million for the corresponding period in 2016, an increase of US $18.1 million. Net premium revenue stood at US $167.7 million, and exceeded the prior year amount of US $157.3 million, an increase of US $10.4 million. Net investment income and other income closed at US $114.8 million and exceeded the prior year amount of US $107.0 million.
Benefits closed at US $137.2 million for the period, compared to US $134.0 million for the previous year, a marginal increase of US $3.2 million.