Sagicor Financial Co. Ltd. Class A · TSX:SFC
Sagicor Financial Co. Ltd. Class A — Q1 2025 Earnings Presentation
28 slides from Sagicor Financial Co. Ltd. Class A's earnings presentation, 2025
Slide 1: Sagicor Financial (TSX:SFC) Investor Presentation Q1 2025
Sagicor Financial (TSX:SFC) Investor Presentation Q1 2025
Slide 2: Sagicor at a Glance
Sagicor at a Glance ▪ Sagicor Financial Company Ltd. (“Sagicor Financial” or “Sagicor”) is a leading provider of insurance products and related financial services ▫ Core products and services include life and health insurance, annuities, pension investment and administration, property and casualty i
Slide 3: Sagicor Business Overview
Sagicor Business Overview ▪ Sagicor’s balance sheet is approximately 75% in Canada and the United States, providing a stable base for participation in those markets ▪ Over 80% of revenues1 primarily comprised of life insurance, health insurance, and annuities sold to individuals and groups ▪ Leading
Slide 4: Investment Highlights
Investment Highlights 4
Slide 5: Reasons to Buy
Reasons to Buy 1 Attractive valuation with significant upside 2 Significant growth opportunities with focus on expanding ROE1 Strong track record of sustainable growth, profitability, and 3 returning capital to shareholders 1Represents a non-IFRS or other financial measure. Refer to the Non-IFRS and
Slide 6: Attractive Valuation With Significant Upside
1 Attractive Valuation With Significant Upside +36% to 96% upside C$10.75 to C$15.50 ▪ Shares are currently3 trading at: ▫ 20% discount to book value per share1 +28% upside ▫ 62% discount to deployable capital to shareholders1 C$10.14 SFC Current3 ▪ Core earnings yield1 is 13.7%: Share Price ▫ 4.8%
Slide 7: Sagicor's Growth Strategy
2 Sagicor’s Growth Strategy ▪ Growth through prudent and active management of the operating subsidiaries ▪ Focused on growing high unit-economics businesses and products Multiple Avenues for Growth Continue to organically grow the Synergies through integration of U.S. annuities platform Canada and t
Slide 8: Sagicor's Growth Trajectory
2 Sagicor’s Growth Trajectory Earnings Growth Catalysts Core Basic Earnings1 per Share Guidance2 ▪ Easy to execute organic growth in the U.S. with attractive 74.0₵ to 80.0₵ 10%+ Growth unit economics ▪ 2025 new business CSM1 target of $180 million to $200 million2 ▪ $1.1 billion of future profits (n
Slide 9: Strong Track Record of Sustainable Growth and Profitability
3 Strong Track Record of Sustainable Growth and Profitability In five years since listing on the Toronto Stock Exchange in Q4 2019, this team has: ✓Grown assets by over 160% ✓Grown comparable earnings by over 190%1 ✓Grown deployable capital2 / comparable book value by over 110% ✓Restored investment
Slide 10: Strong Track Record of Returning Capital to Shareholders
3 Strong Track Record of Returning Capital to Shareholders $182 million1 $62 million2 Dividends Declared Share Repurchases Since TSX Listing Since TSX Listing Capital Returned to Shareholders (US$ millions) Annual Dividends Declared Annual Share Repurchases Dividend increased by 12.5% in March 2025
Slide 11: Sagicor: An Attractive Investment Opportunity
Sagicor: An Attractive Investment Opportunity Performance Since ivari Acquisition Close Comparable Company Metrics Share Price Return1: +65% Canadian Lifecos P/B1,2 P/E 2025E1,3 P/E 2026E1,3 Total Shareholder Return1: +75% C$8.00 Published Business C$250 million C$200 million Manulife Financial 1.7x
Slide 12: Key Messages
Key Messages ➢ Board and management focused on enhancing shareholder value ➢ Attractive valuation with significant upside ➢ Significant growth opportunities with focus on expanding ROE1 ➢ Track record of value creation and returning capital1 to shareholders 1Represents a non-IFRS or other financial
Slide 13: Business Segment Overviews
Business Segment Overviews 13
Slide 14: What We Do
What We Do Sagicor operates a business focused on earning income by assisting customers in managing future financial risks Investment Portfolio Federal Bonds Premiums and Deposits Asset Investments Provincial / State Customers Bonds Municipal Bonds Corporate Bonds Other Fixed- Income Assets Future B
Slide 15: Sagicor Canada
Sagicor Canada ▪ Sagicor Canada (ivari) is a leading middle-market life insurance platform founded as Transamerica Life Canada in 1927 ▫ Acquired by Sagicor in 2023 and furthers the company’s strategy of growing in individual life insurance ▪ Primary offering includes universal life and traditional
Slide 16: Sagicor Life USA
Sagicor Life USA ▪ Acquired by Sagicor through two acquisitions in 2005 (American Founders and Laurel Life) ▫ Has since narrowed its focus to grow in the individual fixed annuities market, having doubled the size of its balance sheet in the last five years ▪ Primarily offers fixed annuities ▫ Offere
Slide 17: Sagicor Jamaica
Sagicor Jamaica ▪ Largest publicly traded financial company on the Jamaica Stock Exchange (JSE:SJ) ▫ Leading life insurer and investments platform, commercial bank, and property and casualty insurer in the Jamaican market ▪ Primarily offers life and health insurance and annuities but also includes b
Slide 18: Sagicor Life
Sagicor Life ▪ Sagicor Life was established in 1840 in Barbados as Barbados Mutual Life Assurance Society and has grown in many of its markets across the English-speaking Caribbean1 ▪ Provides life and health insurance, annuities, pension services, and asset management ▪ Strong brand and market shar
Slide 19: Sustained Balance Sheet Growth Driving Strong Profitability
Sustained Balance Sheet Growth Driving Strong Profitability Total Assets Revenues1,2 (US$ billions) (US$ millions) $3,099 $3,107 $22.4 $22.8 $23.2 $2,540 $2,534 $2,359 $1,867 $1,878 $10.4 $10.8 $8.7 $9.3 2019 2020 2021 2022 2023 2024 Q1 2025 2019 2020 2021 2022 2023 2024 LTM Q1 2025 IFRS 4 IFRS 17 I
Slide 20: Appendix
Appendix 20
Slide 21: Experienced Management Team
Experienced Management Team ▪ Appointed President and Chief Executive Officer in April 2023 Andre Mousseau President and ▪ Previously held the positions of Group Chief Operating Officer from 2021 to 2023, and Group Chief Financial Officer from 2019 to 2023 Chief Executive Officer ▪ Over 20 years of
Slide 22: Experienced and Aligned Board of Directors
Experienced and Aligned Board of Directors Board of Directors Motivated and Engaged Anchor Investors Share count reduced from Chairman Mahmood Khimji 147.8 million at TSX listing JMMB1 President Andre Mousseau & CEO 135.8 million The Most Honourable Shares Float Q1 20253 Dodridge D. Miller Other Anc
Slide 23: Resilient Investment Portfolio Driven by Sound Investment Policies
Resilient Investment Portfolio Driven by Sound Investment Policies ▪ Conservative investment portfolio comprised mostly of corporate and government bonds ▪ Portfolio driven primarily by highly liquid investment grade debt ▪ Limited exposure to real estate, private debt, private equity, and public eq
Slide 24: Well Capitalized with Available Excess Capital and Liquidity
Well Capitalized with Available Excess Capital and Liquidity 27.2% Financial leverage ratio1 $175 million Liquidity from revolving credit facility 137% 298% Group LICAT1 ratio MCCSR1 ratio Strong capital base with significant excess capital Significant capital deployment potential Solid capital posi
Slide 25: Footnotes
Footnotes From Slide 3 Sources: Insurance Association of Jamaica, Barbados Financials Services Commission, Financial Services Authority (St. Vincent & the Grenadines), Financial Services Regulatory Authority (St. Lucia), Financial Services Unit (Dominica), Financial Services Regulatory Commission (A
Slide 26: Caution Regarding Non-IFRS and Other Financial Measures
Caution Regarding Non-IFRS and Other Financial Measures This investor presentation for Sagicor Financial Company Ltd. (“Sagicor Financial”, “Sagicor” or the “Company”) should be read in conjunction with the Company’s Management’s Discussion & Analysis (“MD&A”) and the Condensed Consolidated Financia
Slide 27: Disclaimer
Disclaimer By attending the meeting where this presentation is made, by reading the presentation slides or by otherwise receiving the information herein, you will be deemed to have accepted and to have acknowledged the following limitations: The material contained within this is presentation is gene
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