News
Sagicor earnings come in 30.4% lower in Q3
Bnamericas Published: Thursday, December 03, 2009
Barbados-based financial services company Sagicor saw its third quarter earnings fall to US$19.9mn, down 30.4% from 3Q08, as claims and benefits yet again rose faster than premiums and investment income, financial statements from the group show. Premium revenue reached US$226mn for the quarter, up 33.9% from 3Q08, but claims and benefits rose at a rate of 39.1%, coming in at US$299mn. Sagicor's investment and additional income totaled US$101mn, up 26.4% over the same quarter in 2008. Sagicor, which operates in 21 countries throughout the Caribbean, Latin America, the UK and the US, had US$4.40bn in total assets at end-September.
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