Monday, Mar 18, 2019

Good year for Sagicor

Good year for Sagicor
06 Apr

The Sagicor Group is reporting a good performance for 2017.

The insurance giant has recorded improvements in the key areas of revenue, net income and equity.

In the financial results for the year ended December 31st 2017, Sagicor's chairman, Stephen McNamara, revealed that the group's performance was based on contrasting economic conditions both regionally and internationally.

He pointed out that the Caribbean experienced modest economic growth, but continued to engage in fiscal consolidation through various measures of tax increases and public expenditure cuts to reduce high levels of public debt.

Group net income was 115.3 million US dollars an increase of 6 million over the 109.3 million dollars in 2016.

Total revenue increased to 1,220.9 million dollars an increase of 86.8 million dollars over last year.

Sagicor is listed on the Barbados Stock Exchange, the Trinidad and Tobago Stock Exchange and the London Exchange.

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