Sagicor Group Jamaica is reporting a 44 per cent decline in net profit for the first six months of 2026, as the company absorbed higher claims costs linked to Hurricane Melissa and faced challenging market conditions.
The financial services group posted net profit of $4.87 billion, a decline of 44.2 per cent over the same period last year.
Despite the decline, Sagicor says its core business operations remained resilient, with strong insurance sales and improved performance from its commercial banking segment helping to cushion the impact of storm-related provisions and market losses.
Insurance revenue increased by five per cent, driven by growth in the group's health and life portfolios, while commercial banking posted a 38 per cent increase in net profit, supported by higher investment income and improved credit quality.
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