Sagicor Financial Company (SFC) Investor presentation summary

Business overview and market position

• Operates as a diversified insurance and financial services provider across 19 countries, with core offerings in life and health insurance, annuities, pensions, property and casualty insurance, and related financial products.

• Holds leading market positions: top ranks in universal life insurance in Canada, life and health insurance, and pensions in Jamaica, Barbados, and the Eastern Caribbean, and strong presence in the U.S. annuities market.

• Over 85% of revenues are generated from life, health, and annuities, with a balance sheet concentrated 75% in Canada and the U.S.

• Largest segment by assets and net income is the Canadian operation (ivari), acquired in 2023, with significant growth opportunities through product and distribution expansion.

• U.S. business focuses on fixed annuities, doubling its balance sheet in five years and maintaining strong distribution and financial profile.

Financial performance and growth

• Assets have grown over 160% since 2019, reaching $23.0 billion by Q3 2024; deployable capital increased by 53%, and comparable earnings by over 90%.

• Net income and core earnings have shown robust growth, with profitability supported by diversified geographic and business lines.

• Sagicor Jamaica delivers strong profitability, with a 16% average ROE from 2019–2023 and a 6% CAGR in profitability since 2013.

• Sagicor Life maintains a strong brand and market share in the Caribbean, with a focus on technology and margin expansion.

Capital strength and risk management

• Maintains a strong capital base with $3.3 billion in loss-absorbing capital and a Group-LICAT ratio of 140% as of Q3 2024, well above regulatory minimums.

• Conservative leverage, with a financial leverage ratio of 26.8% and over $1 billion in net capital raised since 2019.

• Investment portfolio is primarily composed of highly liquid, investment-grade corporate and government bonds, with limited exposure to higher-risk assets.

• Enterprise risk management framework includes three lines of defense, robust governance, and regular risk quantification and reporting.