Sagicor Financial Company (SFC) Q2 2026 earnings summary

Executive summary

• Q2 2026 delivered solid results, with core earnings returning to target levels and net income significantly exceeding core earnings due to favorable market volatility and asset price movements.

• Leading provider of insurance and financial services with operations in 19 countries, focusing on life and health insurance, annuities, pensions, and property and casualty insurance.

• Strategic initiatives for ROE expansion and future growth are progressing well, including a U.S. credit rating upgrade and Caribbean transformation plans.

• Balance sheet is 75% concentrated in Canada and the U.S., with over 80% of revenues from insurance and annuities.

• Track record of sustainable growth, profitability, and consistent capital returns to shareholders.

Financial highlights

• Core earnings to shareholders were $34.2 million in Q2 2026, up from $24.9 million in Q1 2026, but down 26% year-over-year.

• Net income to shareholders reached $87 million in Q2 2026, rebounding from a loss in Q2 2025, driven by favorable market movements.

• Book value per share was $7.65 (USD) and $10.87 (CAD) at Q2 2026.

• Total assets reached US $25.9 billion as of Q2 2026.

• Revenues rose 80% YoY to $1,327.5 million in Q2 2026.

Outlook and guidance

• Continued progress on strategic initiatives is expected to drive further ROE and earnings growth, especially in the U.S. and Caribbean segments.

• ROE targets remain at 14% for 2027 and 15% for 2028.

• Anticipate one-time charges and investments in Q3 and Q4 related to the Caribbean business combination, with synergies and value creation expected through 2027 and 2028.

• Core dividend payout ratio expected to be 30% to 40%.

• Each growth lever expected to add 1–2% to core ROE over the next 3–5 years.