BRIDGETOWN, Barbados, CMC – Sagicor Financial Company Ltd. (SFC), a leading financial services provider in Canada, the United States, and the Caribbean, says two of its Caribbean companies will be merged into a single Caribbean holding structure.
It said that as part of the merger process involving Sagicor Group Jamaica (SGJ) and Sagicor Life Inc (SLI), new shares will be issued to SFC as consideration for shares in Sagicor Life Inc.
“On a pro forma basis, the combined entity, to be rebranded under a new Caribbean holding company to be named Sagicor Group Caribbean Limited (SGC), would have US$6.9 billion of total assets and US$1.3 billion of total revenues as of and for the last twelve-month period ending September 30, 2025,” according to a statement issued here.
It said that SGC intends to replace SGJ as the company is publicly listed on the Jamaica Stock Exchange.
The statement said that the combination of SGJ and SLI aligns with SFC’s business strategy of achieving greater certainty over operational synergies across both businesses. The Transaction also provides investors with a simplified view by merging both of SFC’s Caribbean-based companies into a single public listing.
The combination is expected to be approximately core earnings(1) neutral to SFC before the impact of any synergies. The management teams of SGJ and SLI have identified potential revenue and cost synergies that could provide for meaningful financial upside.
“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: one capable of delivering enhanced value for our people, our clients, our stakeholders, and the communities we serve,” said Andre Mousseau, President and Chief Executive Officer of SFC.
“Further, our investors will benefit from a simplified reporting structure. Investors seeking full exposure to our prospects for synergy and growth in the Caribbean will be able to invest directly in Sagicor Group Caribbean, which will own substantially all of our Caribbean operations captured in a single, publicly listed entity.
“Meanwhile, Sagicor Financial will benefit from exposure to earnings growth in the Caribbean through our estimated 55% ownership of Sagicor Group Caribbean,” he added.
The Transaction is expected to result in SFC’s 49 per cent ownership of SGJ and 100 per cent ownership of SLI, translating into approximately 55 per cent ownership of SGC on closing, as a result of SFC receiving additional SGC shares as consideration.
The statement said that certain intercompany balances will be extinguished and that the ownership of certain subsidiaries within the structure will be adjusted.
“The consideration is subject to certain adjustments. The Transaction is expected to close in 2026 and is subject to the receipt of regulatory approvals, SGJ shareholder approval, SGJ raising certain financing, and satisfaction of customary closing conditions,” the statement added.
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