Toronto and Barbados (May 13, 2026) – Sagicor Financial Company Ltd. (TSX: SFC) (“Sagicor Financial” or “Sagicor” or the “Company”), a leading financial services provider in Canada, the United States, and the Caribbean, today announced its results for the first quarter ended March 31, 2026. All figures are in US$ unless otherwise stated.

Q1 Highlights

• Core earnings to shareholders⁽¹⁾ of $24.9 million

• Net loss to shareholders of $34.4 million

• Core basic earnings per share⁽¹⁾ (Core basic EPS) of 18.4¢
• Core return on shareholders’ equity (Core ROE)⁽¹⁾ (annualized) of 9.9%
• New business CSM⁽¹⁾ of $36.7 million
• Shareholders’ equity of $1.0 billion, with book value per share of US$7.18 or C$10.01
• Shareholders’ equity plus net CSM to shareholders⁽¹⁾ of $2.1 billion, or US$15.47 or C$21.57 per share
• Group LICAT⁽¹⁾ ratio of 134%
• Financial leverage ratio⁽¹⁾ of 27.5%
• Dividend of US 7.5¢ per share to be paid during the second quarter of 2026 (US 30.0¢ annualized dividend)

Andre Mousseau, President and Chief Executive Officer, said:

“While our underlying business is sound, our Q1 financials delivered seasonally soft core earnings⁽¹⁾ and a loss due to a combination of asset price movement and certain one-time items. Core earnings to shareholders⁽¹⁾ of $25 million included $8 million of negative core insurance experience,⁽¹⁾ predominantly due to seasonal mortality in our North American segments. Absent that mortality, we would have hit a core ROE⁽¹⁾ of approximately 13%.

Q1 was adversely affected by $49 million of market experience losses⁽¹⁾ related to lower asset prices in the U.S. and Canadian fixed income and equity markets, partially offset by the mitigating impact of liability revaluations. While these values create significant volatility in our reported net income from quarter to quarter, we expect these gains and losses to trend to approximately nil over time. We remind our investors that our market experience has been net positive in aggregate since the current accounting standard that drives this volatility was implemented in 2023. Q1 was also affected by certain one-time charges related to our Sagicor Life segment as we prepare to merge our Caribbean subsidiaries.

Seeing through this noisy quarter, we continue to make excellent progress on our strategic initiatives to drive return on equity⁽¹⁾ expansion and future growth, and we reiterate our 2027 and 2028 targets for 14% and 15% core returns on shareholders’ equity,⁽¹⁾ respectively.”

Read the full news release