Sagicor Financial Company Ltd Reports Fourth Quarter and Full Year 2021 Results
Toronto and Barbados (March 21, 2022) – Sagicor Financial Company Ltd. (TSX: SFC), a leading financial services provider in the Caribbean with a growing presence in the U.S., today announced its results for the fourth quarter and full year ended December 31, 2021. All figures are in US$ unless otherwise stated.
- Total net revenue of $2,359.1 million for 2021 increased 26% year over year
- Net insurance premiums of $1,713.2 million for 2021 increased 22% year over year
- Net income to shareholders of $41.9 million in Q4, and $133.2 million for 2021
- Earnings per share of US$0.293 or C$0.368 in Q4, and US$0.919 or C$1.147 for 2021
- Return on shareholders’ equity(1) of 15.1% (annualized) in Q4, 12.6% for 2021
- Total comprehensive income to shareholders was $7.3 million in Q4, and $72.9 million for 2021
- Book value per share(1) of US$7.92 or C$10.08 in Q4
- Dividend of US$0.05625 per common share to be paid during the second quarter of 2022 (US$0.225 annualized dividend)
Dodridge Miller, Group President and Chief Executive Officer, said:
“2021 was a record year for Sagicor and one of the strongest in our history. We delivered $133 million of profits to our shareholders during the year, supported by excellent results in Sagicor Life USA and Sagicor Jamaica in particular. Sagicor Life also posted a robust performance considering the continued challenging operating environment from the pandemic in some of its key markets. Our Sagicor Life USA segment now represents the largest portion of our assets and revenues, and we expect this to continue.
Our colleagues worked diligently during another difficult year to achieve great outcomes for our customers across the Caribbean and the United States and to deliver strong results to our shareholders. I am extremely proud of our team members for their commitment and contributions to the communities in which they live and work.
We are excited about what lies ahead in 2022 and beyond, having demonstrated our company’s strength in 2021. Sagicor is well positioned to continue the positive momentum as we execute our strategic growth plans.”