Sagicor Group Records Another Solid Q1 Performance, Net Income Closing Up At US$38.9M
The Sagicor Group recorded another solid performance for the first three months to March 31, 2018, this as the Group’s net income closed the period at US $38.9 million against a prior year result of US $27.0 million.
Net income attributable to shareholders was US$19.9 million compared to the prior year result of US $16.7 million, an increase of 19%.
During the first three months of the year Sagicor Group recorded total revenue for the Group of US$296.6 million, against a prior year amount of US $282.5 million, an increase of 5%.
Revenue included a one-time gain of US$5.3 million on the acquisition of the British American insurance portfolio from the Government of Barbados. Benefits were US $132.1 million, compared to US $138.4 million for the previous year, a reduction of 5%.
Expenses were US $117.6 million, compared to US $115.1 million for the same period in 2017.
Sagicor Group closed the quarter with improved earnings per common share of 6.5¢ an increase of 2% compared to the 5.5¢ recorded in 2017.
To view Sagicor Financial Corporation Limited – Consolidated Financial Results for the three months ended March 31st, 2018 click HERE