Sagicor Financial Company (SFC) AGM 2025 summary

Opening remarks and agenda

• The meeting was conducted in a hybrid format, with both in-person and virtual participation, and the agenda included financial review, voting on business items, and a Q&A session.

• Voting procedures and guidelines were outlined, with ballots available both physically and electronically, and results to be posted online after the meeting.

• Shareholders were encouraged to submit questions, with a limit of two per person to ensure broad participation.

Financial performance review

• Net income to shareholders for 2024 was $97.5 million, with core earnings at $91 million, reflecting strong performance.

• New business contractual service margin exceeded net income, indicating strong future profitability.

• Book value per share and shareholders' equity increased, and the company remains well capitalized with a LICAT ratio well above 100%.

• Asset base and profitability have more than doubled since 2019, with a significant increase in investment-grade assets.

• Dividend payouts have increased for the second consecutive year, and share buybacks have reduced share count by 10% since 2019.

Board and executive committee updates

• The board and executive team have focused on investments to drive future growth and shareholder returns, including technology and talent.

• Executive compensation is benchmarked against similar companies and markets, with a mix of base pay and performance-based incentives.

• A new Chief Digital Officer was appointed to lead digital transformation initiatives.