Sagicor Group Jamaica to merge with Sagicor Life Inc to become US$6.9 billion Sagicor Group Caribbean

Core Viewpoint - Sagicor Group Jamaica Ltd is merging with Sagicor Life Inc to form a new holding company, Sagicor Group Caribbean, creating a combined entity valued at US$6.9 billion, consolidating insurance, banking, and investment services across the Caribbean [1][3]. Group 1: Merger Details - The merger will result in a combined entity controlling over US$6.9 billion in assets and generating US$1.3 billion in annual revenues [3]. - Sagicor Financial's ownership stake will increase from 49% to approximately 55% following the issuance of new shares, pending regulatory and shareholder approval [3]. Group 2: Strategic Implications - The merger aims to strengthen competitiveness, reduce complexity, and create a focused platform for digital transformation by pooling expertise, talent, and technology investments [2][6]. - Executives described the transaction as "accretion neutral" for shareholders, with potential benefits from cost savings and revenue synergies [4]. Group 3: Leadership and Vision - Dodridge Miller, former CEO of Sagicor Financial, will chair the new holding company, with Christopher Zacca as CEO and Robert Trestrail remaining CEO of Sagicor Life [5]. - The merger is seen as a pivotal moment in Sagicor Group Jamaica's evolution, enhancing its resilience against climate, economic, and geopolitical shocks [5][6].