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Financial News

Oct 2023 Financial News

Sagicor Financial acquires Ivari insurco for bargain price

Oct 06, 2023

Sagicor Financial Company has acquired a Canadian life insurance firm for a fraction of its CDN$1.6-billion value.

Wilton Re sold Ivari to Sagicor for CDN$375 million, which is less than a quarter of its current book value. Wilton Re itself was reported to have acquired Ivari eight years ago, in 2015, for about some CDN$600 million.

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Source:
The Jamaican Gleaner
Friday 6th October, 2023