Sagicor Financial Company reported a second-quarter net loss of US$6.4 million for the period ending June 30, 2025, as mark-to-market volatility on insurance assets and liabilities, along with currency fluctuations, weighed on results.
Despite strong operating performance in Canada, the US, and the Caribbean, the bottom line was pulled into the red by financial market swings. The company’s total comprehensive income, which includes unrealized gains, came in at US$39.8 million.
In Canada, higher investment returns and new business growth buoyed results, while Sagicor Life USA surpassed the US$6 billion asset milestone. Caribbean operations delivered solid underlying profits on the back of disciplined underwriting and effective claims management.
Sagicor maintained a solid financial position, with shareholders’ equity of US$990.3 million, or US$7.29 per share (C$9.94). When combined with net contractual service margin (CSM), total equity reached US$2.1 billion, or US$15.63 (C$21.32) per share. The company’s Group LICAT ratio improved four percentage points quarter-over-quarter to 141%, while the financial leverage ratio remained at 27.1%.
During the quarter, Sagicor’s board declared a quarterly dividend of US$0.0675 per share, payable September 17 to shareholders of record on August 27. The company also repurchased and cancelled 25,200 shares at a total cost of approximately US$0.1 million.
Looking ahead, Sagicor updated its guidance for 2025, projecting core earnings of US$120 million to US$130 million and targeting new business CSM of US$155 million to US$175 million. CEO Andre Mousseau said ongoing strategic initiatives, including investments in digital platforms and claims optimization, are expected to continue generating value in 2026 and beyond.
Mousseau emphasized that all operating segments generated strong insurance results during the quarter, with new business production solid across each market. The results reflect the company’s ability to navigate market volatility while maintaining operational resilience, particularly in its insurance business.
Sagicor’s Q2 performance underscores its continued focus on underwriting discipline, investment management, and operational efficiency, supporting sustainable growth for both shareholders and policyholders across Canada, the US, and the Caribbean.
