Sagicor Financial Corporation Ltd Update on Scotiabank Insurance transactions (8980R)
2019年11月1日 - 10:00PM
ＲＮＳを含む英国規制内ニュース （英語）
TIDMSFI
RNS Number : 8980R
Sagicor Financial Corporation Ltd
01 November 2019
SAGICOR FINANCIAL CORPORATION LIMITED
Provides update on Scotiabank Insurance transactions
Barbados, November 1, 2019 - Sagicor Financial Corporation
Limited ("Sagicor") had announced its intention in November 2018 to
acquire Scotia Jamaica Life Insurance Company Limited ("Scotiabank
Insurance Jamaica") and ScotiaLife Trinidad and Tobago Limited
("Scotiabank Insurance Trinidad and Tobago").
Sagicor and The Bank of Nova Scotia Jamaica Limited have
mutually agreed not to proceed with the 20-year distribution
agreement for insurance products and solutions in Jamaica. As a
result, Sagicor will not proceed with the acquisition of Scotiabank
Insurance Jamaica at this time.
Sagicor, Alignvest Acquisition II Corporation and Scotiabank
Trinidad and Tobago Limited remain parties to a share purchase
agreement dated November 27, 2018 (the "Trinidad SPA") pursuant to
which Sagicor agreed to establish a 20-year distribution agreement
for insurance products and solutions in Trinidad and Tobago, and
acquire all of the issued and outstanding shares in the capital of
Scotiabank Insurance Trinidad and Tobago, subject to the
satisfaction of certain conditions precedent. Sagicor continues to
pursue the transactions contemplated in the Trinidad SPA.
About Sagicor Financial Corporation Limited
Sagicor is a leading financial services provider in the
Caribbean, with over 175 years of history, and has a growing
presence as a provider of life insurance products in the United
States. Sagicor offers a wide range of products and services,
including life, health, and general insurance, banking, pensions,
annuities, and real estate. Sagicor's registered office is located
at Clarendon House, 2 Church Street, Hamilton, HM 11, Bermuda with
its principal office located at Cecil F De Caires Building, Wildey,
St. Michael, Barbados.
For further information please contact:
Sagicor Financial Corporation Limited Media Enquiries
Ingrid Card
Vice President, Group Marketing, Communications & Brand
Experience 246-230-5315 or Ingrid_Card@sagicor.com
Investor Enquiries
Samantha Cheung
Executive Vice President, Investor Relations
416-898-4324 or 1-800-342-0719 or
Samantha_Cheung@sagicor.com
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END
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