Sagicor Group Jamaica Shines: Q1 Performance Amid Global Chaos

Sagicor Group Jamaica (SGJ) announced a net profit attributable to stockholders of $2.01 billion for the first quarter ended March 2026. The group highlighted strong insurance sales and balance sheet growth, despite the challenging global market conditions and an additional provision related to Hurricane Melissa. SGJ experienced robust insurance sales, with improvements in insurance revenues across both long-term and short-term insurance lines. The Group ended the quarter with earnings per share attributable to stockholders (EPS) of $0.52 and a Return on Equity (ROE) of 7 percent. Christopher Zacca, President and CEO of Sagicor Group Jamaica, stated that the first-quarter performance reflects the resilience of their business model. Insurance revenue for the quarter increased by 0.90 billion, or 6 percent, year over year, due to strong new business sales in both long-term and short-term insurance lines. Net investment income was $7.34 billion, including significant realized and unrealized gains. Fees and other revenue of $4.59 billion were primarily from commercial banking activities. The Long-Term Insurance segment produced a net profit of $2.08 billion, benefiting from the release of Contractual Service Margin (CSM). The Short-Term Insurance segment reported improved insurance revenue of $9.36 billion, but this was offset by higher insurance expenses. The segment ended the quarter with a net loss of $0.02 billion. Commercial Banking produced a net profit of $0.83 billion. The