Sagicor merging regional operations into Sagicor Group Caribbean

 

Sagicor has announced a major regional restructuring, bringing its Jamaican and southern Caribbean businesses under a single publicly listed holding company, Sagicor Group Caribbean. 

 

Andre Mousseau, Group President of Sagicor Financial Company, made the announcement on Tuesday morning at Sagicor's headquarters in New Kingston.

 

The move is aimed at creating a more agile, competitive organisation, better positioned to meet changing customer expectations and leverage regional talent. 

 

"Combining Sagicor's Caribbean operations under a single new publicly listed holding company is a significant and positive evolution for Sagicor's customers, for our policyholders, for our shareholders, and indeed for regional strength of the Caribbean. As the parent company of both Sagicor Group Jamaica here and Sagicor Life Inc. in the southern Caribbean, SFC or Sajikor Financial Company is committed to building a stronger, more nimble, more competitive organisation across the region," said Mr. Mousseau. 

 

Former Sagicor Financial Company CEO, Dodridge Miller, is to be nominated as the inaugural chairman, Sagicor Group Jamaica CEO Christopher Zacca will assume the role of chief executive of the new entity, while Robert Trestrail remains CEO of Sagicor Life.

 

The combined group would have total assets exceeding US$6.9 billion in revenues of more than US$1.3 billion for the 12 months, ended September 30.