2 months ago
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After reporting an outturn of nearly $4 billion for the first quarter ended March 2025, financial conglomerate,Sagicor Group Jamaica Limited is aiming to replicate the performance across all the remaining quarters of this year, but with a note of caution.
Reporting to shareholders at the company’s annual general meeting last Thursday, Group CEO Christopher Zacca said earnings were buttressed by some one-off events in the quarter, but that, even absent the fat, the company’s performance would still be strong.
To replicate the results going forward, the company needs to stick to its strategic objectives in the face of potential headwinds.
“We’re optimistic, but we are aware that the environment is ever-changing and volatile in the new world order,” said Zacca.
In relation to Jamaica, while this will be an election year, “that fact has not caused us to have any concerns about Jamaica”, he told shareholders.
Sagicor’s five strategic pillars focus on digital transformation, revenue generation, client intimacy, team member engagement, and geographical expansion. Its operations span life and health insurance, investment banking and property services, among others. Its main businesses are Sagicor Life Jamaica, Sagicor Bank Jamaica, Sagicor Investments Jamaica, and Sagicor Property Services.
Zacca reported that all the businesses did well in the March quarter, with long-term life insurance outclassing them all. Insurance sales climbed by 14 per cent, from $12.51 billion to $14.3 billion, in 2024.
The group’s results imply forward momentum at Sagicor, Zacca noted, while pointing to key management changes to maintain the company’s northward path – Willard Brown was installed as CEO of Sagicor Life Jamaica, while Executive Vice President, Strategy and Business Development Joanna Banks has seen her role expanded to incorporate the position chief technology officer.
English (US) ·