Sagicor Group Jamaica Limited has announced that it has agreed with Sagicor Financial Company Ltd. to merge Sagicor Life Inc. with SGJ under a single Caribbean holding structure.

SLI is a leading provider of life, health, and general insurance solutions across the Eastern and Southern Caribbean. As part of the merger process, new shares will be issued to SFC as consideration for shares in SLI.

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% to approximately 55%, reflecting SFC’s receipt of additional shares, subject to customary adjustments.

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.

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 (“SGC”), creating a stronger platform that advances the ONE Sagicor vision. 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 Chief Executive Officer (“CEO”) of SFC, will be nominated as Chairman of Sagicor Group Caribbean, while Christopher Zacca will serve as CEO. Robert Trestrail will continue to serve as CEO of SLI. Chris and Robert will work closely to build a best-in-class Caribbean financial conglomerate. This aligned leadership structure reinforces continuity and provides a clear path toward delivering long-term strategic objectives.

Zacca Confident that Merger will Strengthen Regional Presence

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.”

President and CEO of SFC, Andre Mousseau, added: “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.”

Robert Trestrail, President and CEO of SLI, 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.”

Empowering Teams and Enhancing Client Value

The transaction will unite teams across the region, creating new opportunities for collaboration, professional development, and regional mobility. It will also enable the organisations to provide increased value to clients by expanding product offerings, modernising service delivery, and leveraging shared technology and expertise. As integration progresses, clients can expect a more seamless experience, more comprehensive financial solutions, and greater access to Sagicor’s regional capabilities.

Continuity of Operations

Sagicor confirms that there will be no immediate changes to roles, service channels, policies, benefits, or client interactions. All existing policies, claims processing, and payments will continue uninterrupted. As the transaction progresses, the companies will explore strategic opportunities for alignment and optimisation. 

This step underscores Sagicor’s commitment to the Caribbean and its belief in the transformative potential of a unified regional financial services sector.