Sagicor Group Jamaica has expanded into Latin America.
The company says effective January 1, it entered into a joint venture with Capital & Advice Incorporated, its partner in Costa Rica, for the acquisition of Sagicor Panama from Sagicor Life Incorporated in Barbados.
Sagicor Jamaica says the deal has received no objections from both Jamaican and Panamian regulators.
President and CEO of Sagicor Group Jamaica Christopher Zacca, says the acquisition of Sagicor Panama is in line with the company's strategic objective of regional expansion.
The new arm will be providing insurance solutions across Latin America, as the company looks to add more new markets in the next few years.
Sagicor Panama offers a range of products including group and individual life insurance, group and individual health insurance, and personal accident insurance.
Sagicor Group Jamaica also includes Sagicor Life of the Cayman Islands, Sagicor Investments Cayman and Sagicor Costa Rica.
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