Toronto and Barbados (May 14, 2024) - Sagicor Financial Company Ltd. (TSX: SFC), a leading financial services provider in the Caribbean and Canada, with a growing presence in the U.S., today announced its results for the first quarter ended March 31, 2024. All figures are in US$ unless otherwise stated.

Q1Highlights
  • Net income to shareholders of $26.2 million
  • New business CSM([1])of $40.1million
  • Shareholders' equity of $964.4 million, with book value per share of US$6.84 or C$9.27
  • Shareholders' equity plus net CSM to shareholders(1)of $2.1billion, or US$14.97 or C$20.29 per share
  • Debt to capital ratio(1)of 26.7%
  • MCCSRratio(1)of 303%
  • Group-LICAT(1)of 136%
  • Dividend of US$0.06 per common share to be paid during the second quarter of 2024 (US$0.24 annualised dividend)
Andre Mousseau, President and Chief Executive Officer, said:

"Sagicor is pleased to report another solid quarter in Q1 2024. Net income to shareholders was slightly ahead of plan as we benefited from positive asset price movement in aggregate, in particular in our U.S. segment. We continue to make progress on a number of strategic initiatives including integration of our new Canadian subsidiary and optimizing our balance sheet to take advantage of our new investment grade ratings."


[1]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.


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Sagicor Financial Company Ltd. published this content on 15 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2024 13:05:21 UTC.