Sagicor Financial Announces Proposed Simplified Organizational Structure

Executive Summary

• Sagicor Financial Company Ltd. entered into a definitive agreement to combine its subsidiaries Sagicor Group Jamaica Limited (SGJ) and Sagicor Life Inc. (SLI) into a new Caribbean holding company, Sagicor Group Caribbean Ltd. (SGC).
• Post‑combination, SGC would hold US$6.9 billion of assets and generate US$1.3 billion of revenue for the twelve months ended September 30 2025, and will replace SGJ as the listed entity on the Jamaica Stock Exchange.
• The transaction is expected to close in 2026, subject to regulatory approvals, shareholder approval, financing by SGJ, and customary closing conditions; Sagicor Financial will own approximately 55 % of SGC after closing.

Key Details

• Transaction Structure: Merger of SGJ (49 % owned) and SLI (100 % owned) into a newly created holding company, Sagicor Group Caribbean Ltd.
• Pro‑Forma Financials: US$6.9 billion total assets; US$1.3 billion total revenue for the twelve months ended 30 Sep 2025.
• Ownership Outcome: SFC’s existing 49 % stake in SGJ and full ownership of SLI will translate to ~55 % equity interest in SGC after issuance of additional SGC shares as consideration.
• Synergy Expectation: Core earnings to shareholders are expected to be neutral before synergies; management has identified potential revenue and cost synergies that could provide meaningful upside.
• Closing Timeline: Anticipated closing in 2026, contingent upon:
• Regulatory approvals (Canada, Jamaica, Barbados, etc.)
• Approval by SGJ shareholders
• SGJ securing required financing
• Satisfaction of customary closing conditions
• Share Listing: SGC will replace SGJ as the publicly listed entity on the Jamaica Stock Exchange.

Notable Quotes

“The rationale for this merger is clear and compelling… By bringing together our Caribbean operations, we can harness the power of synergy, leverage the depth of talent across our markets, and build a stronger, more resilient Sagicor.” – Andre Mousseau, President & CEO, SFC

“Investors will benefit from a simplified reporting structure… Sagicor Group Caribbean will own substantially all of our Caribbean operations captured in a single, publicly listed entity.” – Andre Mousseau, President & CEO, SFC