Sagicor Financial Company Ltd. Reports Second Quarter 2024 Results

August 15, 2024

Toronto and Barbados (August 14, 2024) – Sagicor Financial Company Ltd. (TSX: SFC), a leading financial services provider in Canada, the United States and the Caribbean, today announced its results for the second quarter ended June 30, 2024. All figures are in US$ unless otherwise stated.

Q2 Highlights
  • Core earnings to shareholders(1) of $25.3 million
  • Annualised core return on shareholders’ equity(1) of 10.9%
  • Net loss to shareholders of $40.2 million driven by adverse market experience
  • New business CSM([i]) of $40.1 million
  • Shareholders’ equity of $897.7 million, with book value per share of US$6.36 or C$8.71
  • Shareholders’ equity plus net CSM to shareholders(1) of $2.0 billion, or US$14.51 or C$19.86 per share
  • Financial leverage ratio(1) of 26.8%
  • Group-LICAT ratio(1) of 138%
  • MCCSR ratio(1) of 309%
  • Dividend of US$0.06 per common share to be paid during the third quarter of 2024 (US$0.24 annualised dividend)

 

Andre Mousseau, President and Chief Executive Officer, said:

“We are pleased to announce our second quarter results with our revised and enhanced shareholder disclosure. Our new core earnings(1) framework will allow our investors to better understand the earnings generation of each of our operating segments. This enhanced disclosure will enable us to more meaningfully engage with the investment community and ultimately improve Sagicor’s access to and cost of capital.”


[i]Represents a non-IFRS or other financial measure. See the Non-IFRS and Other Financial Measures section in this document and in our MD&A for relevant

information about such measures.