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Sagicor’s Future Earnings Uncertain


(Barbados Today) After recording a modest decline of two percent during the second quarter, the financial performance for the rest of this year for Barbados’ largest insurance firm, Sagicor Financial Company Ltd, cannot be easily predicted.

Group President and Chief Executive Officer Dodridge Miller said while several plans have been put in place to lessen any potential fallout from the COVID-19 pandemic, there was still a high level of uncertainty.

“The company’s financial performance for the balance of 2020 remains uncertain,” he said in the recently released second-quarter 2020 results report.

“We have put in place a series of initiatives to mitigate the effect of the pandemic on our operations and financial results. We are cautiously optimistic that signs of improving conditions will persist through quarter three and quarter four of 2020. However, because the length and severity of the economic contraction in our operating jurisdictions remain unpredictable, the impact of the pandemic on financial results for the balance of the year remains uncertain,” he explained in his outlook.

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