Sagicor Financial Corporation Chairman Retires.BRIDGETOWN, Barbados -- Sagicor Financial Corporation, the leading financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.Please [ improve this article] or discuss the issue on the talk page. group in the Caribbean, has announced that Arthur Bethell has expressed his intention to retire as Chairman and Director following the group's Annual Meeting. The appointment of the new Chairman will be announced at the Annual General Meeting on May 31st. Arthur Bethell was appointed Chairman of Sagicor Financial Corporation in 2005. Mr. Bethell has had a long and distinguished career with the Sagicor Group, which began in 1965 and has held many senior positions within the Group. He was elected a Director of main subsidiary, Sagicor Life Inc, in 1994 and President and Chief Executive Officer of the Group in 1995. Mr. Bethell retired from this position in June 2002. Sagicor's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dodridge Miller said: "Arthur Bethell has been instrumental in building Sagicor into the Caribbean's leading financial services group. He has led the Group through many strategic initiatives, culminating with the demutualization Demutualization The process of changing corporate structure from a mutual fund company to some other form, such as a limited liability or corporation. Notes: This means mutual/life insurance companies convert from policyholder companies to stock companies. of the Barbados Mutual Life Assurance Society, and its reorganisation Noun 1. reorganisation - the imposition of a new organization; organizing differently (often involving extensive and drastic changes); "a committee was appointed to oversee the reorganization of the curriculum"; "top officials were forced out in the cabinet as Sagicor. We will miss his wise counsel and friendship." About the Sagicor Financial Group: Established in 1840, Sagicor Financial Corporation's (Sagicor) insurance operations are dominant in most of the countries in which it operates. Based on its strong core earnings, profitability and more than adequate levels of risk-based capital, Sagicor's Caribbean operations have been consistently rated "A" Excellent by AM Best. In 2006, Standard and Poor's Noun 1. Standard and Poor's - a broadly based stock market index Standard and Poor's Index assigned Sagicor a "BBB BBB A medium grade assigned to a debt obligation by a rating agency to indicate an adequate ability to pay interest and repay principal. However, adverse developments are more likely to impair this ability than would be the case for bonds rated A and above. +" counterparty credit and financial strength. Total Group assets stand today at approximately $3.1 billion with capital and surplus of approximately $500 million. Sagicor's balance sheet continues to exemplify ex·em·pli·fy tr.v. ex·em·pli·fied, ex·em·pli·fy·ing, ex·em·pli·fies 1. a. To illustrate by example: exemplify an argument. b. prudence and the capacity to support future expansion programs. Sagicor will continue to seek out growth opportunities through acquisitions and strategic partnerships to expand geographically. For more information, visit www.sagicor.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion