TORONTO and BARBADOS, July 16, 2026 /CNW/ -- Sagicor Financial Company Ltd. (TSX: SFC) ("Sagicor Financial" or "Sagicor" or the "Company"), a leading financial services provider in Canada, the United States and the Caribbean, today announced that A.M. Best Rating Services, Inc. ("AM Best") recently upgraded the Long-Term Issuer Credit Rating ("ICR") of Sagicor Financial to "bbb" (Good) from "bbb-" (Good) and the Long-Term Issue Credit Rating ("IR") to "bbb+" (Good) from "bbb" (Good) of its $550 million 5.3% senior unsecured notes due 2028. In addition, AM Best upgraded the Financial Strength Rating ("FSR") to A (Excellent) from A- (Excellent) and the ICR to "a" (Excellent) from "a-" (Excellent) of ivari, Sagicor Life Insurance Company, Sagicor Life Inc., and Sagicor General Insurance Inc. Concurrently, AM Best has affirmed the FSR of A- (Excellent) and the ICR of "a-" (Excellent) of Sagicor Reinsurance Bermuda Ltd., as well as the FSR of B++ (Good) and the ICR of "bbb+" (Good) of Sagicor Life Jamaica Limited. The outlook for all ratings is stable.
Andre Mousseau, President and Chief Executive Officer of Sagicor Financial, said: "We are pleased with the continued recognition of our financial strength by way of improvements in our credit ratings, both at our parent company and at many of our operating subsidiaries. These improved ratings will allow us to continue to expand our distribution reach and improve our cost of capital."
In upgrading the credit ratings, AM Best cited Sagicor's consolidated risk-adjusted capitalization at the strongest level, as measured by Best's Capital Adequacy Ratio ("BCAR"), together with its very strong balance sheet strength and its strong operating performance.
Current credit ratings are shown in the table below.
Entity | FSR | ICR | Outlook |
Sagicor Financial Company Ltd. ("SFC") | N/A | bbb | Stable |
ivari | A | a | Stable |
Sagicor Life Insurance Company | A | a | Stable |
Sagicor Life Inc. | A | a | Stable |
Sagicor General Insurance Inc. | A | a | Stable |
Sagicor Life Jamaica Limited | B++ | bbb+ | Stable |
Sagicor Reinsurance Bermuda Ltd. | A- | a- | Stable |
Notes | ICR | IR | Outlook |
SFC $550 million 5.3% senior unsecured notes, due 2028 | bbb | bbb+ | Stable |
The full press release from AM Best is available on the investor relations section of the Company's website at investors.sagicor.com/credit-rating.
About Sagicor Financial Company Ltd.
Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial services provider with over 185 years of history in the Caribbean, over 90 years of history in Canada, and over 70 years of history in the United States. Sagicor offers a wide range of products and services, including life, health, and general insurance, banking, pensions, annuities, investment management, and real estate. Sagicor's registered office is located at Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda, with its principal office located at Cecil F De Caires Building, Wildey, St. Michael, Barbados. Additional information about Sagicor can be obtained by visiting www.sagicor.com.