Sagicor Financial Company Ltd. Reports Third Quarter 2021 Results and Chair Succession
Toronto and Barbados (November 15, 2021) – Sagicor Financial Company Ltd. (TSX: SFC, “Sagicor” or “Company”), a leading financial services provider in the Caribbean with a growing presence in the U.S., today announced its results for the third quarter ended September 30, 2021. All figures are in US$ unless otherwise stated.
- Total net revenue of $781.9 million in Q3 increased 94% year over year
- Net insurance premiums of $623.5 million in Q3 increased 135% year over year
- Net income to shareholders of $50.4 million in Q3
- Earnings per share of US$0.349 or C$0.437 in Q3
- Total comprehensive income to shareholders was $50.7 million in Q3
- Book value per share of US$7.92 or C$10.05 in Q3
- Dividend of US$0.05625 per common share to be paid during the fourth quarter (US$0.225 annualized dividend)
Dodridge Miller, Group President and Chief Executive Officer, said:
“Sagicor is pleased to announce an excellent quarter of profitability and growth. Once again, Sagicor Life USA posted a very strong quarter reflecting continued progress in our U.S. strategy as that business grows towards scale. Sagicor Jamaica also grew compared to Q3 2020 underpinned by new life insurance sales and positive emergence from our actuarial reserves. Sagicor Life, our southern Caribbean segment, delivered good profitability despite lockdowns from the pandemic across select markets.
In addition to our strong performance, we reached yet another milestone as our total assets surpassed $10 billion for the first time in our Group’s history.”