Sagicor Financial Company has recorded a 13 per cent increase in revenue for the second quarter of 2021, going up to US $516.3 million in the second quarter of 2021 as compared to US $458.5 million in 2020.
For the year to date, Sagicor made an 18 per cent increase in revenue, from US$801.7 million in 2020 to US$947 million in 2021.
The report said Sagicor Life USA was its highest earner, earning US $206.4 million in 2021 as compared to US $179.8 in 2020 – a 15 per cent increase.
Locally, Sagicor earned US$ 122.4 million – a 26 per cent increase from its performance in 2020, when it made US$ 97.2 million.
For the year to date, the local Sagicor showed the most improvement as well going from US$ 210.4 million in 2020 to US $254.6 million in 2021 – a 20 per cent increase.
In Jamaica Sagicor’s garnered a total net revenue of US$ 122.4 million, a 26 per cent increase year on year from their 2020 performance of US $166.9 million.
“Sagicor’s businesses continue to show their strength and resilience in the face of continued economic uncertainty. While each of our businesses has remained profitable, our recovery of our growth and profit margins to target levels will be dependent on a return to normal economic activity,” the company said.