Sagicor Financial Company Ltd. (TSX: SFC)

Investor Presentation

September 2021

Caution regarding forward-looking information and non- IFRS measures

Certain information contained in this presentation may be forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as "expect", "anticipate", "believe", "foresee", "could", "estimate", "goal", "intend", "plan", "seek", "will", "may" and "should" and similar expressions or words suggesting future outcomes. These forward-looking statements reflect material factors and expectations and assumptions of Sagicor. Sagicor's estimates, beliefs and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to

change. No assurance can be given that growth or capital optimization will occur or be successful. Risks and uncertainties not presently known to Sagicor or that it presently believes are not material could cause actual results or events to differ materially from those expressed in its forward-looking statements. Additional information on these and other factors that could affect events and results are included in other documents and reports. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect Sagicor expectations only as of the date of this document. Sagicor disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

The Company reports certain non-IFRS measures that are used to evaluate the performance of its businesses and the performance of their respective segments. As non-IFRS measures generally do not have a standardized meaning, they may not be comparable to similar measures presented by other issuers. Securities regulators require such measures to be clearly defined and reconciled with their most comparable IFRS measure.

The Company references non-IFRS measures and insurance industry metrics in this document and elsewhere. Non-IFRS measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Rather, these are provided as additional information to complement those IFRS measures by providing further understanding of the results of the operations of the Company from management's perspective. Accordingly, these measures should not be considered in isolation, nor as a substitute for analysis of the Company's

financial information reported under IFRS. Non-IFRS measures used to analyze the performance of the Company's businesses include but are not limited to: underlying net income, return on shareholders' equity, book value per share, MCCSR, debt to capital ratio, debt to equity ratio, dividend pay-out ratio, and coverage ratio. Please see the "Non-IFRS Financial Information" section of the Management's Discussion and Analysis for a reconciliation of these non-IFRS measures.

All figures in this presentation are in US$ unless otherwise noted

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Business Overview

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Sagicor at a glance

  • Leading financial services provider in 20 countries primarily in the Caribbean, with a growing presence in the U.S.
  • Provides life, health, and P&C insurance, annuities, banking, asset management and pension products to individuals and groups
  • Over 180-years-old, with a long track record of strong organic and inorganic growth
  • Public company listed on the Toronto Stock
    Exchange

4,500+ workforce including 1,300+ advisors

USA

Cayman

Jamaica

Islands

Financial Results (US$ million)

LTM

2019

2020

Q2'21

Revenue

1,867

1,878

2,024

Net income to shareholders

87

(4)

72

Total assets

8,729

9,266

9,891

Shareholders' equity

1,154

1,110

1,102

Total capital

2,266

2,128

2,346

P&C

Other

Individual Life,

Insurance

5%

Health, & Annuity

Banking &

4%

66%

Investment

Mgmt.

9%

Revenue

Group Life, Health,

& Annuity

US$948m

16%

H1 2021

Eastern

Caribbean Barbados

Trinidad

& Tobago

Dutch

Caribbean

27%

Sagicor Life

  • English-speakingCaribbean operations outside of Jamaica and Cayman Islands
  • Individual & group insurance, annuities

% of H1 2021 revenue

36%

Sagicor Jamaica

  • Individual life & group health insurance
  • Investment management, commercial & investment banking

33% Sagicor Life USA

  • Fast growing individual fixed annuities and life insurance provider
  • Operates in 45 states and Washington DC

Note: Net income excludes one-time debt refinance costs in Q2 2021, and transaction related expenses in 2019

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Sagicor's leading market position in key geographies

Other Caribbean

9%

Trinidad &

Tobago

12%

Revenue

Barbados

US$948m

H1 2021

12%

Jamaica

33%

Emerging

U.S.

leader

U.S.

34%

1

Jamaica

1Barbados

2

Trinidad

& Tobago

  • Rapidly growing in the largest insurance market in the world
  • #1 market share in individual life insurance (67%), group life (65%), group health (59%), pensions (58%)
  • #1 in asset management
  • #3 largest commercial bank
  • #2 largest publicly traded company
  • #1 market share in ordinary life, group life, and annuities (81%)
  • #2 market share in ordinary life, group life, and annuities (28%)

- Jamaica data from the Insurance Association of Jamaica. Individual life based on gross premium income (Dec. 2020), group life based on API (Sep. 2020), pensions based on funds

under management (Sep. 2020), group health based on API (Sep. 2020)

- Barbados data from the Financial Services Commission Barbados. Ordinary life, group life, and annuities based on gross premium income (Dec. 2019)

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- Trinidad & Tobago data from the Association of Trinidad and Tobago Insurance Companies. Ordinary life, group life, and annuities based on gross premium income (Dec. 2019)

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Sagicor Financial Company Ltd. published this content on 17 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 October 2021 07:46:12 UTC.