TORONTO and BARBADOS, April 4,
2022 /CNW/ - Sagicor Financial Company Ltd.'s
("Sagicor") subsidiary, Sagicor Group Jamaica Limited, has
completed the purchase of 100% of the shares in Alliance Financial
Services Limited ("AFSL") having satisfactorily completed all due
diligence and regulatory requirements.
In a statement on their website the Bank of Jamaica stated "Under the new ownership
structure, AFSL has satisfied the Bank's due diligence
requirements." AFSL is now licensed to offer cambio and remittance
services at approved locations. As a result AFSL and its approved
sub agents will resume full cambio and remittance operations as of
Monday April 4, 2022. AFSL is now
fully enabled on the international MoneyGram platform.
Sagicor Group Jamaica President and CEO, Christopher Zacca stated that "This is a
significant moment for us at Sagicor as the acquisition of AFSL is
aligned to the Group's overall strategy for growth. We are
eagerly anticipating the opportunity this presents for us to move
into new business segments and expand our product offerings to our
clients." Mr. Zacca went on to say, "The Sagicor team is
excited to work with the experienced and professional team members
and sub agents of Alliance Financial Services. We expect to
continue the already established tradition of excellent service to
the public and position the business for robust growth."
About Sagicor Financial Company Ltd.
Sagicor Financial Company Ltd. (TSX: SFC) is a leading financial
services provider in the Caribbean, with over 180 years of h istory,
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. Additional
information about Sagicor can be obtained by visiting
www.sagicor.com.
SOURCE Sagicor Financial Company Ltd.