Sagicor Financial Company (SFC) Q2 2025 earnings summary

Executive summary

• Delivered record core earnings to shareholders in Q2 2025, up 82% year-over-year to $46 million, with all operating segments posting positive insurance experience gains and solid new business production.

• U.S. subsidiary assets surpassed $6 billion; Canadian business showed strong profitability aided by Canadian dollar recovery; Caribbean segments achieved robust profitability from repricing and product initiatives.

• Reported net loss to shareholders of $6.4 million due to non-core mark-to-market volatility and currency impacts, but total comprehensive income to shareholders was $39.8 million.

• Strategic transformation initiatives are progressing, expected to yield further benefits in 2026 and beyond.

Financial highlights

• Revenues reached $736 million, up from $606 million in Q2 2024.

• Core earnings to shareholders rose 82% year-over-year to $46.0 million; core basic EPS up 89% to 33.9¢.

• Book value per share increased to $7.29 (USD), or CAD 9.94; shareholders' equity at $990.3 million.

• Group LICAT ratio improved to 141%, up 4 percentage points from Q1 2025; financial leverage ratio at 27.1%.

• New business CSM was $39.2 million, reflecting strong sales across all segments.

Outlook and guidance

• 2025 core earnings to shareholders guidance raised to $120–130 million, reflecting strong first-half performance.

• New business CSM guidance for 2025 adjusted to $155–175 million due to higher U.S. profitability recognized in investment income.

• Medium-term target of 13%+ core ROE reaffirmed; double-digit annual core earnings growth expected to continue.