Sagicor Financial Reports Third Quarter 2024 Results

November 14, 2024

Toronto and Barbados (November 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 third quarter ended September 30, 2024. All figures are in US$ unless otherwise stated.

Q3 Highlights
  • Core earnings(1) to shareholders of $24.1 million
  • Annualised core return on shareholders’ equity(1) of 10.4%
  • Net income to shareholders of $59.1 million driven by positive market experience
  • New business CSM([i]) of $44.8 million
  • Shareholders’ equity of $952.3 million, with book value per share of US$6.86 or C$9.26
  • Shareholders’ equity plus net CSM to shareholders(1) of $2.1 billion, or US$14.99 or C$20.24 per share
  • Financial leverage ratio(1) of 26.8%
  • Group-LICAT(1) ratio of 140%
  • MCCSR(1) ratio of 304%
  • Dividend of US$0.06 per common share to be paid during the fourth quarter of 2024 (US$0.24 annualised dividend)

 

Andre Mousseau, President and Chief Executive Officer, said:

“We are pleased to announce another solid quarter in Q3 2024. Core earnings(1) to shareholders was consistent with our expectations at $24 million, and positive market experience drove an extraordinary net income result. We remain on track with our growth initiatives, the integration of Sagicor Canada, and continue to optimize our balance sheet through debt refinancing and opportunistic share repurchases, all of which we believe will drive return on shareholders’ equity(1) growth in 2025 and beyond.”


[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.


Read the full news release.