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Sagicor Financial Corporation Chairman Retires.

BRIDGETOWN, Barbados -- Sagicor Financial Corporation, the leading financial services 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 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 of the Barbados Mutual Life Assurance Society, and its reorganisation 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 assigned Sagicor a "BBB+" 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 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.

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Publication:Business Wire
Date:Mar 16, 2007
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