Sagicor Group Jamaica recently received regulatory approval to start operations in the Cayman Islands, on the heels of a historic quarterly earnings of more than $8 billion that outclassed even the top profit maker.
“Our Cayman investment company finally got its licence this year and is ramping up. We are building out an office, which we are required to do, and we are building the structure around launching new products to the international market through that venture.”
In 2019, Sagicor announced that it would spend the equivalent of US$20 million to set up investment services in the Cayman Islands, as a platform to enter the region.
The Cayman expansion is being done through the investment and wealth subsidiary Sagicor Investments Jamaica Limited. Sagicor Investments said at the time that it plans to offer investment banking, along with wealth and asset management services.
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