Mar 2013 Financial News

Sagicor Life Jamaica expands operations in Costa Rica

Mar 04, 2013

Sagicor Life Jamaica Limited (SLJ) today announced that it has, through its St Lucian subsidiary, obtained regulatory approval to operate an insurance company in Costa Rica. SLJ advised that it partnered with Capital and Advice, S.A., a retail and investment services company in Costa Rica to operate this new entity. This partnership will see both companies taking 50% equity each in this new company which will operate under the Sagicor brand.

Richard Byles, President and CEO of SLJ said that the granting of the licence is the culmination of the various stages in the regulatory process which started in February 2011 following the signing of the Joint Venture Agreement between SLJ and its Costa Rican partners.

Under the terms of the agreement, Sagicor Life Jamaica will provide technical expertise and administrative services and operating systems to support the insurance operations. Capital and Advice, with its experience in banking and other financial services in Costa Rica, as well as other commercial operations will provide marketing support to the joint venture.

For further information please contact

Ingrid Card at Ingrid_card@sagicor.com
Sagicor Life Jamaica
28-48 Barbados Avenue
Kingston 5
Tele# 876-936-7559
Fax# 876-754-4366
www.sagicorja.com


Source:
The Trinidad and Tobago Stock Exchange Limited
Monday March 4, 2013