Sagicor
- Company typePublic
- Founded1840
- HeadquartersWildey, Barbados
- Headcount5,001–10,000
- GTM typeB2C
- OfferingServices
What Sagicor does
Sagicor Financial Company Ltd. is a Bermuda-domiciled, Toronto-listed (TSX: SFC) financial services holding company founded in 1840 as Barbados Mutual Life Assurance Society, operating across 19 countries in the Caribbean, United States, Canada, and Latin America. The group offers life insurance and a full suite of annuity products (Multi-Year Guaranteed Annuities, Fixed Indexed Annuities, and Single Premium Immediate Annuities) through an independent producer network and direct channels, with the U.S. subsidiary (Sagicor Life Insurance Company, Scottsdale, AZ) licensed in 45 states plus D.C. Its annuity platform features diverse interest crediting strategies linked to the S&P 500 Index and iShares ETFs (MSCI EAFE, Emerging Markets, ESG Aware MSCI USA) from BlackRock, alongside a Declared Rate strategy, providing tax-deferred growth with principal protection.
The group generates revenue primarily through recurring life insurance premiums and annuity considerations, with subscription-style multi-year contracts and minimum premiums starting at US$5,000 on SPIAs. Its 2023 acquisition of ivari from CPP Investments-backed Wilton Re added approximately 700,000 Canadian policies and a C$325 million cash deal, materially expanding its North American life book. Sagicor Group Jamaica, Sagicor Bank (Barbados) Limited (a cloud-native, digital-only bank launched in 2022), and other Caribbean and Latin American subsidiaries round out a diversified financial services platform. Capital strength is well above regulatory requirements (over 300% of required capital under NAIC), and the group holds investment-grade ratings from Fitch (BBB), S&P (BBB), DBRS (BBB low), and A.M. Best (A- Excellent, affirmed April 2025). FY2025 core earnings to shareholders reached $142.3 million (+57% YoY), with management targeting core ROE of 14% in 2027 and 15% in 2028.
Distribution is primarily via independent producers supported by sales training, illustration software, and a secure producer portal, complemented by direct enterprise field sales for larger accounts and digital self-serve through Sagicor Bank. The group is executing a December 2025-announced merger to consolidate its Jamaican and Eastern Caribbean operations into a new publicly-listed entity, Sagicor Group Caribbean Limited, expected to close in 2026, alongside leadership renewal (Eric Sandberg appointed President of the U.S. subsidiary in April 2026).
Sagicor firmographics
Firmographics- Name
- Sagicor
- Legal name
- Sagicor Life Insurance Company
- Website
- https://sagicor.com
- Company type
- Public
- Founded year
- 1840
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Ownership category
- akta.pro rank
Sagicor industry classification
Industry- Product category
- Life Insurance and Annuities
- NAICS
- Direct Life, Health, and Medical Insurance Carriers (52411), Finance and Insurance (52)
- SIC
- Life Insurance (6311)
- akta.pro primary industry
- Annuity & Insurance-Based Retirement Solutions Advisory (FSAEABAH)
- akta.pro secondary industry
- Retirement Plan Participant Advice & Managed Accounts (FSAEABAF)
Keywords
Where Sagicor is headquartered
LocationHeadquarters
- HQ city
- Wildey
- HQ country
- Barbados
Offices4 records
Markets served
Sagicor business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Life Insurance Premiums: Sagicor generates revenue through life insurance premiums from individual policyholders. The company is licensed in 45 states plus D.C. and offers various life insurance products.
- Annuity Products: Revenue from annuity products including Multi-Year Guaranteed Annuities (MYGA) and Fixed Indexed Annuities (FIA). These products provide tax-deferred wealth accumulation and steady income streams for retirement.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Multi-year contract | Milestone Max MYGA - Multi-year guaranteed annuity with 3-7 year guarantee periods |
| Unit Pricing | Pay-as-you-go | Single Premium Immediate Annuity (SPIA) |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
Sagicor product offering
Product offeringCore offering
Sagicor is a financial services group that sells life insurance and annuity products, including Multi-Year Guaranteed Annuities (MYGA), Fixed Indexed Annuities (FIA) with S&P 500 and iShares ETF-linked crediting strategies, Single Premium Immediate Annuities (SPIA), and individual life insurance policies. The company also operates Sagicor Bank, a digital-only bank in Barbados. Products are sold through an independent producer network, direct sales, and digital channels to individual consumers across the Caribbean, United States, Canada, and Latin America.
Product overview
Sagicor offers a comprehensive portfolio of annuity products designed for retirement savings and income accumulation. The core product line consists of four main annuity types: the Milestone Max MYGA (Multi-Year Guaranteed Annuity) providing fixed interest rate guarantees over 3-7 year periods; the Milestone MYGA (California-specific version) with similar guaranteed rate features; the Sage Accumulator Fixed Indexed Annuity (FIA) offering growth opportunities through index-linked crediting strategies with principal protection; and the Single Premium Immediate Annuity (SPIA) providing immediate income streams. These products share common features including tax-deferred growth, principal protection, and penalty-free withdrawal options. The Interest Crediting Strategies component enables policyholders to allocate among S&P 500-linked, iShares ETF-linked (EAFE, Emerging Markets, ESG Aware), or fixed declared rate strategies. Products are distributed through independent producers and direct channels across 45 U.S. states.
Differentiator
Problem solved
Functional benefit
Products and services
- Milestone Max Multi-Year Guaranteed Single Premium Deferred Annuity (Milestone Max MYGA) A multi-year guaranteed annuity offering fixed credited interest rates with tax advantages and built-in flexibility to help meet multiple retirement objectives. Features guarantee periods of 3, 4, 5, 6, or 7 years with principal protection and no market risk. Targeted at individuals and families in the U.S. market seeking retirement savings with guaranteed returns.
- Milestone Multi-Year Guaranteed Single Premium Deferred Annuity (California only) A California-only multi-year guaranteed annuity providing guaranteed fixed rates with tax-deferred growth and principal protection. Offers flexibility with multiple guarantee periods and penalty-free withdrawal options for California residents.
- Sage Accumulator Fixed Indexed Single Premium Deferred Annuity A fixed indexed annuity providing growth opportunities through interest crediting strategies linked to the S&P 500 Index, iShares ETFs from BlackRock, or a fixed Declared Rate. Features principal protection with no downside risk and no fees. Designed for U.S. consumers seeking market-linked upside with downside protection.
- Single Premium Immediate Annuity (SPIA) An immediate annuity providing predictable and dependable income payments on a schedule designed by the policyholder. Offers multiple payout options including lifetime income, period certain, and joint life options with no market risk. Accepts 401(k), 403(b), and IRA rollovers with a minimum premium amount of $5,000.
- Individual Life Insurance Products Life insurance products sold to individual policyholders through Sagicor Life Insurance Company, licensed in 45 states plus the District of Columbia, providing financial protection for families, expert advice, and quality life insurance solutions including death benefits for beneficiaries.
- Sagicor Bank Digital-Only Banking (Barbados) Digital-only banking services operated by Sagicor Bank (Barbados) Limited, including mobile apps, AI-powered chatbots, digital onboarding, and real-time payments. Targeted at Barbadian consumers seeking modern digital-first banking.
Quantifiable outcome
- 57% increase in core earnings year-over-year
- +3 more outcomes
Companies that use Sagicor
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Sagicor technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability1 record
Feature1 record
Sagicor partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ivari (Wilton Re / CPP Investments)coreSagicor acquired ivari, a Canadian life insurer, for C$325 million from CPP Investments-backed Wilton Re. The acquisition expands Sagicor's presence in North America, particularly in the Canadian market. ivari holds approximately 700,000 policies.
Scale indicators13 records
Recent moves10 records
Expansion highlights5 records
Sagicor competitors and assessment
Company assessmentDirect peers
- Athene Holding: Leading provider of fixed indexed annuities, fixed rate annuities, and pension risk transfer products. Direct competitor in the FIA and MYGA markets where Sagicor operates, with similar BlackRock-affiliated investment strategies.
- Brighthouse Financial: Major US annuity and life insurance provider offering fixed indexed, variable, and immediate annuities. Directly competes with Sagicor's US-licensed life insurance subsidiary in the retirement savings market.
- Corebridge Financial: Large US life insurance and annuity carrier offering fixed indexed annuities, immediate annuities, and group retirement solutions. Competes directly with Sagicor in the US retirement income market.
- Equitable Holdings: Provider of variable annuities, indexed annuities, and life insurance products. Direct competitor in the US annuity market with similar indexed crediting strategy offerings.
- Jackson Financial: Specialized annuity provider offering fixed index, fixed rate, and variable annuities. Competes with Sagicor's FIA products in the US market and is similar in its specialized annuity focus.
- F&G Annuities & Life: Provider of fixed indexed annuities, multi-year guaranteed annuities, and immediate annuities. Direct competitor in the FIA and MYGA space with comparable product offerings to Sagicor's Milestone and Sage product lines.
- Globe Life: US-focused life insurance provider with significant distribution through independent agents. Operates similar agent-driven model to Sagicor's independent producer network, though more concentrated in life insurance than annuities.
Broad incumbents
- Lincoln Financial Group: Diversified US life insurance and annuity carrier with broader product portfolio including annuities, life insurance, and retirement plans. Competes with Sagicor in multiple retirement product categories but with greater scale.
- Guardian Life Insurance: Mutual insurance company offering life insurance, disability, and annuity products. Overlaps with Sagicor's life and annuity offerings in the US market, particularly through group and individual retirement products.
Regional players
- Sagicor Life Jamaica: Regional subsidiary of Sagicor Group Jamaica Limited, leading life insurance and financial services provider in Jamaica. Comparable to other Caribbean insurance operations within Sagicor's portfolio structure.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Sagicor social profiles
Digital presenceSagicor compliance and trust
Trust signalCompliance5 records
Sagicor financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sagicor leadership team
Management profileNumber of profiles
Profiles12 records
Sagicor subsidiaries and ownership
Company hierarchySubsidiaries5 records
Sagicor funding detail
Funding detailFunding overview
Funding rounds4 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sagicor M&A and investment
M&A and investmentM&A5 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sagicor
What does Sagicor do?
Sagicor is a financial services group that sells life insurance and annuity products, including Multi-Year Guaranteed Annuities (MYGA), Fixed Indexed Annuities (FIA) with S&P 500 and iShares ETF-linked crediting strategies, Single Premium Immediate Annuities (SPIA), and individual life insurance policies. The company also operates Sagicor Bank, a digital-only bank in Barbados. Products are sold through an independent producer network, direct sales, and digital channels to individual consumers across the Caribbean, United States, Canada, and Latin America.
Is Sagicor a public or private company?
Sagicor is a public company. It is classified as public and is currently operating.
When was Sagicor founded?
Sagicor was founded in 1840. It employs 5,001 to 10,000 people.
Where is Sagicor based?
Sagicor is headquartered in Wildey, Barbados.
How does Sagicor make money?
Two revenue lines are on record. Life Insurance Premiums are the primary driver. The others are annuity Products.
Who are Sagicor's main competitors?
Direct peers on record are Athene Holding, Brighthouse Financial, Corebridge Financial, Equitable Holdings, Jackson Financial, F&G Annuities & Life and Globe Life. Broad incumbents are Lincoln Financial Group and Guardian Life Insurance. Sagicor Life Jamaica is listed as a regional player.
Does Sagicor have an API?
No public API is recorded for Sagicor.
What industry is Sagicor in?
Sagicor's product category is Life Insurance and Annuities. Its primary akta.pro industry code is FSAEABAH, Annuity & Insurance-Based Retirement Solutions Advisory, with a secondary code of FSAEABAF, Retirement Plan Participant Advice & Managed Accounts. Its NAICS code is 52411 and its SIC code is 6311.