Sagicor Financial Company Ltd.’s Subsidiary, Sagicor Group Jamaica Limited, Completes Acquisition of Alliance Financial Services Limited
Toronto and Barbados (April 4, 2022) – Sagicor Financial Company Ltd.’s (“Sagicor”) subsidiary, Sagicor Group Jamaica Limited, has completed the purchase of 100% of the shares in Alliance Financial Services Limited (“AFSL”) having satisfactorily completed all due diligence and regulatory requirements.
In a statement on their website the Bank of Jamaica stated “Under the new ownership structure, AFSL has satisfied the Bank’s due diligence requirements.” AFSL is now licensed to offer cambio and remittance services at approved locations. As a result AFSL and its approved sub agents will resume full cambio and remittance operations as of Monday April 4, 2022. AFSL is now fully enabled on the international MoneyGram platform.
Sagicor Group Jamaica President and CEO, Christopher Zacca stated that “This is a significant moment for us at Sagicor as the acquisition of AFSL is aligned to the Group’s overall strategy for growth. We are eagerly anticipating the opportunity this presents for us to move into new business segments and expand our product offerings to our clients.” Mr. Zacca went on to say, “The Sagicor team is excited to work with the experienced and professional team members and sub agents of Alliance Financial Services. We expect to continue the already established tradition of excellent service to the public and position the business for robust growth.”