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Company type | Public company |
---|---|
TSX: SFC | |
Industry | Financial services |
Founded | 1840 |
Headquarters | Barbados |
Area served | Canada, United States, Caribbean & Latin America |
Key people | Mahmood Khimji, Chairman of the Board Andre Mousseau, President and CEO Kathryn Jenkins, CFO |
Services | Life, health and general insurance, annuities, pension administration, banking, and investment management |
Revenue | US$2.5 billion (2023) |
US$584 million (2023) | |
Total assets | US$22.4 billion (as at December 31, 2023) |
Total equity | US$1.3 billion (as at December 31, 2023) |
Divisions | Sagicor Canada Sagicor Life USA Sagicor Group Jamaica Sagicor Life Inc |
Website | www |
Sagicor Financial Company Ltd.,is a financial services conglomerate operating in Canada, the United States, Latin America, and the Caribbean region.
Sagicor Financial Company Ltd. is a financial services provider with over 180 years of history in the Caribbean, over 90 years of history in Canada, and a presence in the United States with over 70 years of history. Sagicor offers a range of products and services, including life, health, and general insurance, banking, pensions, annuities, investment management, and real estate. Sagicor operates through the following four segments: Sagicor Canada, Sagicor Life USA, Sagicor Jamaica, and Sagicor Life. Geographically, the firm operates in Canada, the United States, Jamaica, Trinidad & Tobago, Barbados, and other countries in the Caribbean.
Sagicor was listed on the Toronto Stock Exchange in December 2019.
Jamaica is an island country in the Caribbean Sea and the West Indies. At 10,990 square kilometres (4,240 sq mi), it is the third largest island—after Cuba and Hispaniola—of the Greater Antilles and the Caribbean. Jamaica lies about 145 km (90 mi) south of Cuba, 191 km (119 mi) west of Hispaniola, and 215 km (134 mi) south-east of the Cayman Islands.
Since the island country's independence in 1966, the economy of Barbados has been transformed from a low-income economy dependent upon sugar production into a high-income economy based on tourism and the offshore sector. Barbados went into a deep recession in the 1990s after 3 years of steady decline brought on by fundamental macroeconomic imbalances. After a painful re-adjustment process, the economy began to grow again in 1993. Growth rates have averaged between 3%–5% since then. The country's three main economic drivers are: tourism, the international business sector, and foreign direct-investment. These are supported in part by Barbados operating as a service-driven economy and an international business centre.
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CIBC Caribbean is a financial services company based in Barbados and the Caribbean subsidiary of the Canadian Imperial Bank of Commerce (CIBC). The bank was founded in 2002 as FirstCaribbean International Bank through the merger of the Caribbean operations of Barclays Bank and CIBC, and in March 2006 both CIBC and Barclays announced that Barclays wished to exercise their option to exit the Caribbean venture completely resulting in CIBC gaining majority-control of the bank. In June 2011, it was announced the bank would be renamed CIBC FirstCaribbean Bank "to be more closely aligned to the CIBC brand, while still maintaining the FirstCaribbean name and local identity." The name was then later changed CIBC Caribbean in January 2024. The majority of the bank's revenues are generated by its operations in Barbados, the Bahamas and the Cayman Islands.
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Canada–Caribbean relations are the long established relationships between Canada and the many states of the Caribbean or West Indies. These ties have been on-going throughout the history of both regions. Initially these relations were based on the policies of European colonial powers in the Americas. More recently, both Canada and most of the Caribbean islands have achieved self-government, putting their relations into a different phase. CARICOM diplomats have referred to Canada as a '"special friend" of the Caribbean at the regional and bilateral levels.' Ties exist in such plurality of organs such as: the Commonwealth of Nations, the Organisation internationale de la Francophonie, Organization of American States, ParlAmericas, the United Nations, and the World Trade Organization.
The Royal Bank of Trinidad and Tobago (RBTT) was a commercial bank based in Trinidad and Tobago and one of the largest commercial banking corporations in the Caribbean region. As of 2008 RBTT Holdings had a group asset base of over US$6.2 billion dollars. The RBTT group of companies operated several commercial banking businesses in other neighbouring islands, as well as various investment holdings in various parts of the Trinidad and Tobago economy. On 26 March 2008, RBTT Shareholders voted 98.18 percent in favour of selling the bank to the Royal Bank of Canada (RBC), who previously had divested the bank in 1987. On 16 June 2008, RBC completed the acquisition. RBTT Financial Holdings Limited and RBC Holdings Limited, a subsidiary of RBC, will amalgamate and continue as a wholly owned indirect subsidiary of RBC. The head office of the Caribbean operations for RBC will be located at Port of Spain, the capital of Trinidad and Tobago, and the site of RBTT's headquarters.
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