our story
As one of the oldest insurers in the Americas, Sagicor has a storied and illustrious history in the Caribbean dating back to 1840. From our humble beginnings as a local life insurance company, to developing into a regional financial services group, to ultimately growing into the international financial services market, we’ve witnessed a lot. It is these experiences that position us to give wise financial thinking for life.
To learn more about key moments in Sagicor’s past, scroll down.
1840
First Office Opens
First office opens at #2 High Street, Bridgetown, Barbados.
1840
Establishment of the Barbados Mutual Life Assurance Society.
Howard Gill, purchased the society's first policy on 24th November, 1840. His annual premium was $312.00 for a sum assured of $10,000.
1845
First Actuary, Henry Beckles Gall.
1849-1900
St. Vincent was the first branch opened outside of Barbados.
Grenada and Trinidad opened in 1858. St. Kitts opened in 1861, Antigua and Montserrat opened in 1863. Followed by Guyana opening in 1866, Dominica in 1868, St. Lucia in 1888 and finally Jamaica in 1896.
Barbados Fire was established in Barbados in 1880 and issued its first policy in 1881.
1895
The Mutual Building designed by English Architectural Firm, Messrs. Cossin And Peacock.
1987
Acquisition of Travellers Portfolio and the rebranding of Aruba, Bahamas, Belize, Cayman Islands, Curacao, St.Maarten and Haiti to Capital Life.
1990
Barbados Fire & General Insurance Company Limited merged with Barbados Commercial Insurance Co. Limited to form Barbados Fire & Commercial Insurance Co.Ltd.
1993
Opening Of Mutual Bank of the Caribbean.
1994
Mutual Financial Services is established.
Caribbean Caricard Services is established.
1997
Establishment of Mutual Asset Management Inc.
Mutual Funds Inc. is established.
1998
Acquisition of the Panama branch of Atlantic Southern Insurance Company.
1999
Acquisition of Island Life insurance Co.Ltd. in Jamaica and Nationwide Insurance in Trinidad and Tobago.
First AM Best Rating 'A' Excellent received by BMLAS and maintained by Sagicor Life Inc.
2000
The acquisition of 23% interest in Life of Barbados.
2001
Acquisition of Life of Jamaica in Jamaica and Allnation in the US.
2002
Acquisition of majority shares in Life of Barbados.
The establishment of the holding Company, Sagicor Financial Corporation, 45,000 policyholders awarded shares as a result of the demutualisation. The Initial Public Offering of Sagicor Shares increased shareholders to 49,000.
2003
SFC lists on the Barbados Stock Exchange.
The Mutual Bank is sold to Butterfield Bank.
2004
SFC lists on Trinidad & Tobago Stock Exchange.
2005
Acquisition of Laurel Life and American Founders Life Insurance Company in the US.
Life of Jamaica acquires Cayman General Insurance.
Acquisition of 20% of FamGuard.
Acquisition of First Life Insurance Portfolio.
Acquisition of majority interest in Pan Caribbean Financial Services.
2006
US$150 Million Bond Offering on the US Market.
Sagicor Life Inc assigned a Standard and Poor's(S&P) financial strength rating of "BBB+".
American Founders Life Insurance Company rebrands as Sagicor Life Insurance Company Limited.
2007
SFC Lists on the London Stock Exchange.
Establishment of Sagicor Europe Ltd.
Acquisition of Gerling at Lloyd's Group in the UK,rebranded as Sagicor at Lloyd's.
2008
Acquisition of controlling interest in Barbados Farms Ltd.
Rebranding of Life of Jamaica to Sagicor Life Jamaica Ltd.
Rebranding of Byrne and Stacey Underwriting to Sagicor Underwriting.
2012
Sagicor launches the Sagicor Visionaries Challenge programme.
Sagicor Life Jamaica agrees to participate in the Government of Jamaica National Debt Exchange Programme.
Sagicor Life acquires the traditional life insurance policies of British American Insurance Company Limited in the Eastern Caribbean.
2013
Sagicor Group Jamaica enters into a Sale and Purchase Agreement to acquire RBC Jamaica.
SFC sells Sagicor Europe and its subsidiaries to AmTrust Financial Services.
2014
Sagicor Group Jamaica acquires RBC Jamaica and operations rebranded as Sagicor Bank.
2015
Sagicor issues 7-year US $320 million Bond.
SFC completes US $320 million Bond Offering on the International Market.
2015
Sagicor launches Sagicor Foundation(Jamaica).
2015
Sagicor celebrates 175 years.
2016
SFC redomiciles in Bermuda and the company name is changed to Sagicor Financial Corporation Limited.
2018
Sagicor Life Inc and Sagicor General Insurance Inc divests interest in Globe Finance Inc.
Sagicor General Insurance Inc acquires Harmony General Insurance Company Limited in Barbados.
SFCL enters into arrangement agreement with Alignvest Acquisition II Corporation. Subject to regulatory approvals and upon closing in 2019, Sagicor would acquire a listing on the Toronto Stock Exchange.
2019
Alignvest Acquisition II Corporation Arrangement Agreement for strategic acquisition is approved by shareholders and is completed in December.
The Sagicor Alignvest Transaction is completed in December, marking one of our most significant milestones in the history of Sagicor.
A new holding company is created at the completion of the Alignvest Transaction – Sagicor Financial Company Ltd.
Sagicor Financial Company Ltd acquires a listing on the Toronto Stock Exchange with the ticker symbol – SFC.
2020
Sagicor Financial Company Ltd celebrates 180 years of ‘Wise Financial Thinking for Life”.
Sagicor announces expiration of Debt Tender Offer
Sagicor hosts first Virtual Meeting of Shareholders
Sagicor Group Jamaica celebrates 50th Anniversary
Sagicor announces Normal Course Issuer
S&P Global ratings upgraded Sagicor to ‘BB+’ on consistently stronger capital adequacy with a stable outlook
2021
Sagicor announces expiration and results of Cash Tender Offer for any and all 8.875% Senior Notes due 2022 issued by Sagicor Finance (2015) Limited and Note Purchase Agreement
Sagicor completes U.S.$400 million Senior Notes Offering
Sagicor Finance (2015) Limited Issues Notice of Redemption in respect of 8.875% Senior Notes due 2022
Sagicor renews its Normal Course Issuer Bid
