Type Publicly Owned Genre Financial Services Founded 1840 | Industry Financial services Headquarters Barbados | |
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Area served Latin America & the Caribbean Key people Dodridge Miller, chairman and CEO
Richard M. Kellman, Chief Operating Officer Services Wealth management, Insurance, Commercial Banking Net income 39.3 million USD (as at September 30, 2013) Total assets 5.78 billion USD (as at September 30, 2013) Subsidiaries Sagicor Finance (2015) Limited | ||
Sagicor Financial Corporation, traded as BSE: SFC LSE: SFI, is a financial services conglomerate operating in Latin America and the Caribbean region.
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History
In 1849, Barbados Mutual Life Assurance Society was established and for fifty branches of the organization were opened in St Vincent, Trinidad and Tobago, Grenada, St Kitts, Antigua, Montserrat, Jamaica and Guyana. After over 150 years of operations throughout the Caribbean, the Barbados Mutual Life Assurance Society acquired interest in, and established a number of companies including, Mutual Bank of the Caribbean, Capital International Management Service and Island Life in Jamaica.
In 2002, the Barbados Mutual Life Assurance Society was resolved and converted to Sagicor Life Inc and established, Sagicor Financial Corporation, which became the company's holding company. Sagicor FInancial Corporation was listed on the Barbados Stock Exchange in 2003 and in 2004, the company was listed on the Trinidad & Tobago Stock Exchange.
The company had a successful US$150 million bond offering on the US market, in 2006 and Sagicor Life Inc was assigned a Standard and Poor’s (S&P) financial strength rating of “BBB+”.
In 2007, Sagicor was listed on the London Stock Exchange and the company established Sagicor Europe Ltd.
In 2008, Sagicor Financial Corporation, rebranded it's insurance company, Life of Jamaica, to Sagicor Life Jamaica Limited. In addition, the company was listed on the Jamaica Stock Exchange.
In 2014, the Royal Bank of Canada decided to cut its losses in Jamaica and sold its Jamaican banking assets to Sagicor Group Jamaica Ltd.
Affiliated companies
Sagicor Financial Corporation comprises several affiliated companies: