DESPITE recording a net loss attributable to shareholders of US$3.61 million ($514.22 million) in its 2020 financial year (FY), Sagicor Financial Company (SFC) saw a massive rebound and recorded its highest net profit attributable to shareholders of US$133.18 million ($20.65 billion) for 2021.

This surpassed the US$72.23 million ($8.98 billion) set in 2017 under Sagicor Financial Corporation before it merged with Alignvest Acquisition II Corporation in December 2019. The record profit was achieved from historic revenues of US$2.36 billion ($360.29 billion), a 26 per cent improvement on the US$1.88 billion earned in 2020. The 2021 record was depressed by US$2.6 million due to its equity investment in Playa Hotels and Resorts NV. The financial conglomerate has a 49.11 per cent controlling interest in Sagicor Group Jamaica Limited (SJ) along with its wholly owned subsidiaries of Sagicor Life USA (SLU) and Sagicor Life in Barbados.

https://www.jamaicaobserver.com/business-observer/sfc-profit-surges-past-us-100-m-mark_246843