We have strengthened our financial position and created growth opportunities in both the Caribbean and the U.S. insurance markets by diversifying our geographic exposure and leveraging economies of scale.
Key acquisitions contributing to Sagicor’s transformation include:
- 1999: Sagicor acquired Island Life Insurance Company Limited and shares in Life of Jamaica Limited.
- 2001: Sagicor acquired Sagicor Jamaica and an interest in Pan Caribbean Financial Services (“PCFS”). PCFS offers securities dealing, merchant banking, foreign exchange dealing, corporate trust services and mutual fund management.
- 2005: Sagicor acquired a controlling interest in PCFS through a series of acquisitions.
- 2008: Sagicor Jamaica acquired the insurance business of Blue Cross Jamaica Limited, comprised of approximately 7,000 group health insurance contracts.
- 2014: Sagicor Jamaica acquired Royal Bank of Canada’s Jamaican banking operations, and rebranded the business together with PCFS as Sagicor Bank.
- 1987: Acquisition of Travelers portfolio and re-branding of Aruba, Bahamas, Cayman Islands, Curacao, St. Maarten and Haiti to Capital Life.
- 1999: Sagicor Life acquired Nationwide Insurance Co. of Trinidad and Tobago.
- 2000: Acquired a 23% interest in Life of Barbados Limited, and went on to acquire a majority in 2002.
- 2005: Sagicor Life purchased a 20% interest in FamGuard Corporation Limited, the parent company of a leading insurance company in the Bahamas, Family Guardian Insurance Company Limited.
- 2008: Acquired a 77% interest in Barbados Farms Limited, whose common shares are listed on the Barbados Stock Exchange.
- 2005: Acquired Laurel Life Insurance Company and its operating subsidiary, American Founders Life Insurance Company. Sagicor subsequently rebranded these businesses as Sagicor Life USA
- 2012: Acquired Washington-based company PEMCO, bringing over 10,000 policyholders under the Sagicor umbrella.