Sagicor Financial Corporation 2017 Q2 Financial Results
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.