Sagicor Financial Co. Ltd. Class A · TSX:SFC
Sagicor Financial Co. Ltd. Class A — Q3 2024 Earnings Presentation
20 slides from Sagicor Financial Co. Ltd. Class A's earnings presentation, November 2024
Slide 1: Sagicor Financial Financial Results Presentation Q3 2024
Sagicor Financial (TSX:SFC) Financial Results Presentation Q3 2024
Slide 2: Caution Regarding Forward-Looking Information and Non-IFRS and Other Financial Measures
Caution Regarding Forward-Looking Information and Non-IFRS and Other Financial Measures This financial results 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”
Slide 3: Q3 Highlights
Q3 Highlights ➢ Excellent Q3 profitability with net income to shareholders of $59.1 million and core earnings1 to shareholders of $24.1 million (core EPS1 of US$17.1 cents or C$23.1 cents) ➢ Strong capital position with improved Group-LICAT1 ratio and unchanged financial leverage ratio1 ➢ $18.7 mill
Slide 4: Q3 Highlights
Q3 Highlights Core Earnings1 New Business CSM1 Core Return on to Shareholders to Shareholders Shareholders’ Equity1,2 $24.1 million $39.7 million 10.4% +149% Y/Y Shareholders’ Equity + Book Value per Share1 Capital1 Net CSM to SH per Share1 140% US$6.86 US$14.99 Group-LICAT1 C$9.26 C$20.24 26.8% +12
Slide 5: Group Results
Group Results Profitability (US$ millions) Q3 2024 YTD 2024 Quarterly Highlights ▪ Core earnings1 to shareholders was $24.1 million and Core net insurance service result1 53 159 consistent with our expectations, a material increase over the same period in 2023 due in large part to the Core net inves
Slide 6: Financial Strength
Financial Strength Financial Strength (US$ millions) Q2 2024 Q3 2024 Quarterly Highlights ▪ Sagicor’s capital position remained stable during Q3 Total assets 22,004 23,024 ▪ Capital adequacy metrics continue to be strong with continued capital generation across the business Shareholders’ equity 898
Slide 7: Relative Business Contributions
Relative Business Contributions Total Assets1 Revenues2 P&C Other Sagicor Life Insurance 2% 11% 5% Banking and Other Financial Services Sagicor 8% Sagicor Canada Jamaica 48% Group 16% Insurance $23.0bn 10% $2,375.7m Q3 2024 YTD Q3 2024 Individual Insurance Sagicor Life 75% USA 25% Segment Core Earni
Slide 8: Sagicor Canada
Sagicor Canada KPIs (US$ millions) Q3 2024 YTD 2024 Quarterly Highlights ▪ Sales production in the quarter was consistent with the Total Assets 11,236 11,236 first half of the year, resulting in new business CSM1 of $11.4 million for the quarter Net Premium1 109 320 ▪ Core earnings1 to shareholders
Slide 9: Sagicor Life USA
Sagicor Life USA KPIs (US$ millions) Q3 2024 YTD 2024 Quarterly Highlights ▪ New business production1 of $292.5 million was consistent Total Assets 5,715 5,715 with expectations for the quarter Net Premium1 290 743 ▪ Core earnings1 to shareholders for the segment was $14.4 million which included ins
Slide 10: Sagicor Jamaica
Sagicor Jamaica KPIs (US$ millions) Q3 2024 YTD 2024 Quarterly Highlights ▪ Sagicor Jamaica saw a strong quarter for its short-term Total Assets 3,775 3,775 insurance business with higher sales and renewal rates for its group health products while its long-term insurance Net Premium1 86 260 business
Slide 11: Sagicor Life
Sagicor Life KPIs (US$ millions) Q3 2024 YTD 2024 Quarterly Highlights ▪ Sagicor Life continued to see improvements in insurance Total Assets 2,620 2,620 service results over the prior year from its long term, short term, group life and P&C insurance businesses Net Premium1 99 301 ▪ Core earnings1 t
Slide 12: Head Office, Other, Adjustments
Head Office, Other, Adjustments KPIs (US$ millions) Q3 2024 YTD 2024 Quarterly Highlights ▪ Core loss1 to shareholders of $23.0 million was consistent Core (loss)1 to shareholders (23) (73) with expectations, and mainly comprised of finance costs and head office expenses Net (loss) to shareholders (
Slide 13: Appendix
Appendix ➢ Drivers of Earnings ➢ CSM Movement 13
Slide 14: Drivers of Earnings by Segment – Q3 2024
Drivers of Earnings by Segment – Q3 2024 Sagicor Sagicor Sagicor Sagicor Head Office, Total (US$ millions unless otherwise stated, unaudited) Canada Life USA Jamaica Life Other, Adj. DRIVERS OF EARNINGS – CORE1 Core net insurance service result Risk adjustment release 6.9 1.5 1.8 3.1 - 13.3 CSM reco
Slide 15: Drivers of Earnings by Segment – YTD 2024
Drivers of Earnings by Segment – YTD 2024 Sagicor Sagicor Sagicor Sagicor Head Office, Total (US$ millions unless otherwise stated, unaudited) Canada Life USA Jamaica Life Other, Adj. DRIVERS OF EARNINGS – CORE1 Core net insurance service result Risk adjustment release 20.4 3.9 5.5 9.5 - 39.3 CSM re
Slide 16: CSM Movement by Segment – Q3 2024
CSM Movement by Segment – Q3 2024 Sagicor Sagicor Sagicor Sagicor Total (US$ millions unless otherwise stated, unaudited) Canada Life USA Jamaica Life CSM MOVEMENT ANALYSIS1 Net CSM - Beginning of Period 566.3 212.8 280.3 232.4 1,291.8 - Organic CSM Movement New insurance business 11.4 11.9 10.0 11.
Slide 17: CSM Movement by Segment – YTD Q3 2024
CSM Movement by Segment – YTD Q3 2024 Sagicor Sagicor Sagicor Sagicor Total (US$ millions unless otherwise stated, unaudited) Canada Life USA Jamaica Life CSM MOVEMENT ANALYSIS1 Net CSM - Beginning of Period 563.8 202.9 281.9 230.0 1,278.5 Organic CSM Movement New insurance business 34.2 36.0 26.2 3
Slide 18: Non-IFRS and Other Financial Measures
Non-IFRS and Other Financial Measures The Company reports certain non-IFRS and other financial measures and insurance industry metrics that are used to evaluate its performance. As non-IFRS and other financial measures generally do not have a standardized meaning, they may not be comparable to simil
Slide 19: Non-IFRS and Other Financial Measures (continued)
Non-IFRS and Other Financial Measures (continued) Core Earnings Core earnings is intended to remove from reported earnings or loss the impacts of items that create volatility in Sagicor’s results under IFRS, or that are not representative of Sagicor's business operating performance and long-term ear
Slide 20: Slide 20
Sagicor Financial Company — Q3 2024 Earnings Presentation on 6ix