Sagicor Group Jamaica to Merge with Sagicor Life Inc., Unifying Caribbean Operations

  • Sagicor Group Jamaica Limited (SGJ) today announced that it has agreed with Sagicor Financial Company Ltd. (SFC) to merge Sagicor Life Inc. (SLI) with SGJ under a single Caribbean holding structure. SLI is a leading provider of life, health, and general insurance solutions across the Eastern and Southern Caribbean. As part of the merger process, new shares will be issued to SFC as consideration for shares in SLI.
  • On a pro forma basis, the combined business would have over US$6.9Bn in total assets and over US$1.3Bn in total revenues for the twelve months ended September 30, 2025. Following completion, SFC’s ownership in the new entity is expected to increase from 49.0% to approximately 55.0%, reflecting SFC’s receipt of additional shares, subject to customary adjustments. Based on management projections, the transaction is expected to be accretion-neutral to shareholders, excluding the impact of cost and revenue synergies, which could provide for meaningful financial upside.
  • The merger, which remains subject to regulatory and shareholder approvals, represents a transformative step for Sagicor, advancing the collective vision of a more unified, efficient, and regionally integrated Sagicor presence throughout the region. With the proposed structure, Sagicor’s Caribbean businesses will be brought together under a new holding company, Sagicor Group Caribbean (“SGC”), creating a stronger platform that advances the ONE Sagicor vision. Through a Scheme of Arrangement, SGC will replace SGJ as the company listed on the Jamaica Stock Exchange, providing continuity and transparency for investors.
  • Dodridge Miller, a current Director and former Chief Executive Officer (“CEO”) of SFC, will be nominated as Chairman of Sagicor Group Caribbean, while Christopher Zacca will serve as CEO. Robert Trestrail will continue to serve as CEO of SLI. Chris and Robert will work closely to build a best-in-class Caribbean financial conglomerate. This aligned leadership structure reinforces continuity and provides a clear path toward delivering long-term strategic objectives.

(Source: Sagicor Group Jamaica)