Sagicor Financial Corporation 2015 Financial Results
Sagicor Financial Corporation (SFC) experienced strong performance, with net income for the year closing at $76.8 million, compared with $73.9 million in 2014, an increase of 3.9%. Net income from continuing operations attributable to shareholders was $56.3 million, compared to the prior year result $53.7 million. Earnings per common share from continuing operations was 18.2 cents, and represented an annualized return on common shareholders’ equity of 11.7%.
Total revenue increased to $1,104.2 million, compared to the prior year amount of $1045.2 million, an increase of $59.0 million or 5.6%. Net premium revenue closed at $673.9 million, compared to $625.6 million for the prior year, an increase of $48.3 million, or 7.7%. SFC experienced premium growth in all segments. Net investment income closed the period at $322.2 million, up from $307.2 million in the prior year, representing an improvement of 4.9%. Fees and other revenue amounted to $109.1 million, compared to $83.3 million in 2014, an improvement of $25.8 million or 31.0 %. Net investment income and Fees and other revenue include the impact of the RBC Royal Bank’s operation in Jamaica, which was acquired on June 27, 2014.
Total benefits incurred from continuing operations held fairly steady at $552.9 million, compared to $542.2 million in 2014. Download the 2015 Financial Results PDF for additional details.