Sagicor revenues up

Sagicor revenues up
17 Nov

Revenue for the Sagicor Financial Corporation Limited for the nine months ended September 30th, 2017, increased appreciably, when compared to the same period last year.

That's according to recent financial results released by the company.

Total revenue amounted to US $910.9 million, compared to $850.5 million for the corresponding period last year, representing an increase of US $60.4 million.

Meanwhile, benefits amounted to US $474.4 million

For the same period, compared to US $422.2 million for the previous year.

In his remarks Chairman Stephen McNamara said Sagicor has embarked on a programme to provide relief from the recent hurricanes.

He said to date, Sagicor has made a financial contribution of US $300,000, as well as the provision of goods and services.

The devastating impact of hurricanes Irma and Maria on the region, and the resulting reinsurance costs, will result in increases in home insurance premiums throughout the Caribbean region.

That's according to Sagicor's vice president for marketing and business development, Mark Blakeley.

He made the comment during a recent interview with the Business Report.

He adds that this would not be the first time that rates would be affected arising from significant damage from natural disasters.