Alignvest Acquisition II Corp
TSX:SFC
Alignvest Acquisition II Corp
Sagicor Financial Co. Ltd. is a financial and insurance company, which provides financial services in the Caribbean. The company is headquartered in Toronto, Ontario. The company went IPO on 2017-04-25. The Company’s segments include Sagicor Life, Sagicor Jamaica, and Sagicor Life USA. The Sagicor Life segment is engaged in life and health insurance, annuities and pension administration in Barbados, Eastern Caribbean, Dutch Caribbean, Bahamas, Belize, Panama and Trinidad & Tobago. The Sagicor Jamaica segment is engaged in life, health, annuity, property and casualty insurance business, pension administration services, banking and financial services, hospitality and real estate investment services in Jamaica, Cayman Islands, Costa Rica and the United States. The Sagicor Life USA segment is engaged in life insurance and annuities in certain states of the United States.
Sagicor Financial Co. Ltd. is a financial and insurance company, which provides financial services in the Caribbean. The company is headquartered in Toronto, Ontario. The company went IPO on 2017-04-25. The Company’s segments include Sagicor Life, Sagicor Jamaica, and Sagicor Life USA. The Sagicor Life segment is engaged in life and health insurance, annuities and pension administration in Barbados, Eastern Caribbean, Dutch Caribbean, Bahamas, Belize, Panama and Trinidad & Tobago. The Sagicor Jamaica segment is engaged in life, health, annuity, property and casualty insurance business, pension administration services, banking and financial services, hospitality and real estate investment services in Jamaica, Cayman Islands, Costa Rica and the United States. The Sagicor Life USA segment is engaged in life insurance and annuities in certain states of the United States.
Core Earnings Surge: Core earnings to shareholders rose 45% year-over-year to $35 million, reflecting strong performance across all segments.
Profitability & Book Value: Net income to shareholders reached $81 million, and book value per share hit a record $7.74 (USD), driven by strong core numbers and positive market impacts.
Segment Strength: Canadian and Caribbean businesses delivered robust results, while the U.S. business grew its assets and maintained strong return spreads.
Hurricane Melissa Impact: The estimated net income hit from the Jamaica hurricane is expected to be immaterial or just marginally material, likely under $10 million.
Credit Rating Upgrade: Fitch upgraded Sagicor’s long-term issuer rating to BBB, confirming investment grade across all agencies.
Dividend Continuity: Sagicor announced its 24th consecutive quarterly dividend, with management signaling a potential reassessment and possible increase after Q4.
ROE Outperformance: Annualized core ROE was nearly 14%, ahead of the company’s original mid-teens target.
Guidance Seen as Conservative: Management expects to exceed both core earnings and fixed annuity sales targets for 2025, with further upside possible in 2026.
