Sagicor Life Jamaica Limited (SLJ) has advised that through its subsidiary, Sagicor Life of the Cayman Islands Limited, the company executed an agreement with Bahamas First Holdings Limited for sale of its 75% stake in Sagicor General Insurance Limited (Cayman) effective January 1, 2010. The Agreement is subject to Regulatory Approval.
This decision was taken by SLJ as its investment in the property and casualty insurance business in Cayman was no longer considered as offering sufficient strategic value at this time. SLJ will however continue to operate its life insurance portfolio in that territory through its wholly owned subsidiary, Sagicor Life of the Cayman Islands Limited.
