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Financial News

Sep 2007 Financial News

SFC - Sale of Allnation Health Portfolio to Gulf Insurance (PCC) Limited

Sep 14, 2007

Sagicor Financial Corporation has informed the Exchange of the sale of the health insurance portfolio of its subsidiary, Sagicor Allnation Insurance Company to Gulf Insurance (PCC) Limited. The portfolio will be administered by Global Benefits Group Inc. of Foothill Ranch, California.

President and Chief Executive Officer Dodridge Miller stated, “Our current US strategy is to expand Sagicor’s presence in the domestic life insurance market. The sale of Allnation will enable us to focus our resources in this area. “

Gulf is registered under the laws of the island of Guernsey, and is licensed to transact insurance business under Guernsey law. Global Benefits Group Inc. is a managing general underwriter with over 25 years experience marketing and administering life and health insurance in the international market.

Source:
The Trinidad & Tobago Stock Exchange
Friday September 14, 2007