Sagicor Financial Company (SFC) Investor presentation summary

Company overview and market position

• Operates in 19 countries with a focus on life and health insurance, annuities, pensions, and related financial services.

• Holds leading market share in universal life insurance in Canada and top positions in Jamaica, Barbados, and the Eastern Caribbean.

• Over 180 years of history, with a diversified presence in North America and the Caribbean.

• Balance sheet is 75% weighted to Canada and the U.S., providing stability and growth opportunities.

• Total assets reached $23.2 billion as of Q1 2025.

Financial performance and valuation

• Shares trade at a 20% discount to book value and a 62% discount to deployable capital.

• Core earnings yield is 13.7% with a 4.8% forward dividend yield.

• Book value per share is C$10.14, with deployable capital per share at C$21.59.

• Share price return since ivari acquisition is +65%, with total shareholder return at +75%.

• Peer valuation shows significant upside compared to Canadian life insurance peers.

Growth strategy and business segments

• Focused on organic growth in the U.S. annuities platform and integration synergies between Canada and the U.S.

• Targeting new business CSM of $180–200 million in 2025 and 10%+ core basic earnings per share growth.

• Largest segment by assets and net income is Sagicor Canada (ivari), acquired in 2023.

• Sagicor Life USA has doubled its balance sheet in five years, focusing on fixed annuities.

• Sagicor Jamaica delivers strong profitability and ROE, with a 49% stake valued at ~$500 million.