Sagi­cor Fi­nan­cial Com­pa­ny on Tues­day re­port­ed core earn­ings of US$29.7 mil­lion in its first quar­ter end­ed March 31, 2025, which was 120 per cent more than the US$13.5 mil­lion the group earned in the same pe­ri­od in 2024.

The group, which is list­ed on the Toron­to Stock Ex­change, but head­quar­tered in Bar­ba­dos, gen­er­at­ed US$647.8 mil­lion for the quar­ter, an in­crease of 1 per cent over the pre­vi­ous pe­ri­od.

Sagi­cor pres­i­dent and chief ex­ec­u­tive of­fi­cer, An­dre Mousseau, said, “We are pleased to an­nounce an­oth­er sol­id quar­ter in Q1. Our quar­ter­ly core earn­ings to share­hold­ers were our high­est on record since our con­ver­sion to IFRS 17 in 2023. Both of our Caribbean seg­ments showed sig­nif­i­cant progress ex­pand­ing mar­gins and grow­ing core earn­ings to share­hold­ers year over year. Our US busi­ness con­tin­ued its strong growth with over US$400 mil­lion of new an­nu­ity pro­duc­tion (1) and our Cana­di­an seg­ment showed ro­bust prof­itabil­i­ty. This per­for­mance puts us in a strong po­si­tion to weath­er mar­ket volatil­i­ty and achieve our tar­gets for 2025.”

Strong growth mo­men­tum at Sagi­cor Cana­da, Sagi­cor Ja­maica, and Sagi­cor Life ben­e­fit­ted from sol­id sales con­tri­bu­tion across all prod­uct lines, im­proved mar­gins on short-term busi­ness­es, and in­sur­ance ex­pe­ri­ence re­vert­ing to­ward ex­pec­ta­tions. Sagi­cor Life USA had a strong quar­ter with US$411.3 mil­lion in new busi­ness pro­duc­tion which re­sult­ed in an im­prove­ment in ex­pect­ed in­vest­ment earn­ings as that seg­ment con­tin­ues to suc­cess­ful­ly grow its as­set base.