Sagi­cor Fi­nan­cial Com­pa­ny Ltd (SFC) yes­ter­day an­nounced that two com­pa­nies it con­trols in the Caribbean are to merge, bring­ing Sagi­cor Group Ja­maica and Sagi­cor Life Inc un­der a sin­gle Caribbean hold­ing struc­ture.

In a news re­lease, the com­pa­nies said that as part of the merg­er process, new shares will be is­sued to SFC as con­sid­er­a­tion for shares in Sagi­cor Life Inc.

On a pro for­ma ba­sis, the com­bined busi­ness would have over US$6.9 bil­lion in to­tal as­sets and over US$1.3 bil­lion in to­tal rev­enues as of and for the twelve-month pe­ri­od end­ed Sep­tem­ber 30, 2025.

Fol­low­ing com­ple­tion, SFC’s own­er­ship in the new en­ti­ty is ex­pect­ed to in­crease from 49 per cent to ap­prox­i­mate­ly 55 per cent, re­flect­ing SFC’s re­ceipt of ad­di­tion­al shares, sub­ject to cus­tom­ary ad­just­ments.

The news re­lease in­di­cat­ed that based on man­age­ment pro­jec­tions, the trans­ac­tion is ex­pect­ed to be ac­cre­tion neu­tral to share­hold­ers, ex­clud­ing the im­pact of cost and rev­enue syn­er­gies which could pro­vide for mean­ing­ful fi­nan­cial up­side.

SFC, the par­ent com­pa­ny, which is list­ed on the Toron­to Stock Ex­change, said the merg­er, which re­mains sub­ject to reg­u­la­to­ry and share­hold­er ap­provals, rep­re­sents a trans­for­ma­tive step for Sagi­cor, ad­vanc­ing the col­lec­tive vi­sion of a more uni­fied, ef­fi­cient, and re­gion­al­ly in­te­grat­ed Sagi­cor pres­ence through­out the re­gion.

With the pro­posed struc­ture, Sagi­cor’s Caribbean busi­ness­es will be brought to­geth­er un­der a new hold­ing com­pa­ny, Sagi­cor

Group Caribbean cre­at­ing a stronger plat­form that ad­vances the ONE Sagi­cor vi­sion, the com­pa­ny said.

Through a Scheme of Arrange­ment, SGC will re­place SGJ as the com­pa­ny list­ed on the Ja­maica Stock Ex­change, pro­vid­ing con­ti­nu­ity and trans­paren­cy for in­vestors.

Do­dridge Miller, a cur­rent di­rec­tor and for­mer CEO of SFC, will be nom­i­nat­ed chair­man of the new­ly cre­at­ed hold­ing com­pa­ny, Sagi­cor Group Caribbean, while Christo­pher Za­c­ca will serve as the CEO. Robert Tre­strail will con­tin­ue as Pres­i­dent and CEO of Sagi­cor Life.

Pres­i­dent and CEO of SFC, An­dre Mousseau, stat­ed “The ra­tio­nale for this merg­er is clear and com­pelling. By bring­ing to­geth­er our op­er­a­tions, we can har­ness the pow­er of syn­er­gy, lever­age the depth of tal­ent across our mar­kets, and build a stronger, more re­silient Sagi­cor: one ca­pa­ble of de­liv­er­ing en­hanced val­ue for our peo­ple, our clients, our stake­hold­ers, and the com­mu­ni­ties we serve.”

Tre­strail, said: “Through this merg­er, we are un­lock­ing sig­nif­i­cant op­por­tu­ni­ties to ho­n­our the ex­cep­tion­al tal­ent that ex­ists with­in Sagi­cor across the Caribbean. To­geth­er, we will con­tin­ue to craft a lega­cy of ex­cel­lence, built on in­no­va­tion, ser­vice, and a shared com­mit­ment to em­pow­er­ing Caribbean fam­i­lies to make wise fi­nan­cial de­ci­sions.”

Christo­pher Za­c­ca, Pres­i­dent and CEO of SGJ, stat­ed: “This com­bi­na­tion marks a defin­ing mo­ment in Sagi­cor Group Ja­maica’s evo­lu­tion and a piv­otal mile­stone in Sagi­cor’s long and dis­tin­guished jour­ney. By merg­ing our Caribbean op­er­a­tions, we are com­bin­ing two in­sti­tu­tions with deep roots and strong rep­u­ta­tions across the Caribbean to form a re­gion­al cham­pi­on with greater scale, ca­pa­bil­i­ties, and reach.

This merg­er strength­ens our com­pet­i­tive po­si­tion, re­duces com­plex­i­ty, and cre­ates a more fo­cused plat­form, en­abling us to ac­cel­er­ate dig­i­tal trans­for­ma­tion by pool­ing ex­per­tise, tal­ent, and tech­nol­o­gy in­vest­ments. We see the im­mense val­ue of be­ing a stronger, well-cap­i­talised re­gion­al play­er, that can with­stand in­creas­ing cli­mate, eco­nom­ic and geopo­lit­i­cal shocks."