Sagicor Financial Company (SFC) AGM 2024 summary

Opening remarks and agenda

• Meeting began with a call to order, tribute to a former chairman, and introduction of board members and executives.

• Agenda included review of financial results, voting on business items, Q&A, and reporting of voting outcomes.

• Voting was facilitated both in-person and virtually, with ballots and electronic voting available.

Financial performance review

• 2023 net income exceeded $500 million, with $99 million in adjusted net income from operations.

• $41 million was returned to shareholders via dividends and share buybacks in 2023.

• Assets grew by over 150% since 2019, and comparable shareholders' equity increased by $900 million.

• Transition to IFRS 17 required significant effort and impacted financial reporting and audit costs.

• U.S. business growth was on plan, with robust underlying performance despite accounting volatility.

Board and executive committee updates

• Tribute paid to former chairman Arthur Bethell.

• Board and executive team introduced, including directors and key officers.