August 13, 2025
Sagicor Group Jamaica Limited (SJ)
Unaudited financials for the six months ended June 30, 2025:
Sagicor Group Jamaica Limited (SJ) for the six months ended June 30, 2025, reported a 15% increase in Insurance revenue totaling $29.43 billion compared to $25.63 billion in the corresponding period last year. Insurance revenue for the second quarter had a 15% increase to close at $15.13 billion compared to $13.12 billion for the comparable quarter of 2024.
Insurance service expenses amounted to $21.52 billion (2024: $20.85 billion), this represents an increase of 3% year over year. Consequently, insurance service result increased by 116% to $6.12 billion compared to $2.83 billion for the six months ended June 30, 2024. The company booked insurance service result of $3.53 billion for the second quarter versus $1.80 billion reported for the similar quarter of 2024.
Net interest income increased by 6% to close at $13.89 billion (2024: $13.11 billion), while unrealized capital gains amounted to $4.36 billion, relative to unrealized capital losses of $1.94 billion. As a result, Net Investment income increased by 75% from $10.93 billion in 2024 to $19.15 billion in the period under review.
Net Insurance Finance expenses increased by 393% from $1.34 billion in 2024 to $6.58 billion in the period under review. Consequently, net insurance and investment result for the six months ended June 30, 2025, amounted to $18.69 billion, a 50% increase relative to $12.42 billion reported in 2024.
Fees and other revenue for the six months ended June 30, 2025, amounted to $9.97 billion, a 7% increase relative to $9.27 billion reported in 2024.
Other operating expenses totalled $16.27 billion a 6% increase from the corresponding period last year. (2024: $15.29 billion).
Profit before taxation for the six months ended June 30, 2025, amounted to $11.57 billion, a 109% increase relative to $5.53 billion reported in 2024. Profit before taxation for the second quarter amounted to $6.23 billion (2024: $3.75 billion).
Income taxes for the six months ended June 30, 2025, amounted to $2.74 billion (2024: $1.51 billion). As such, Net profit for the six months amounted to $8.83 billion, a 120% increase from the $4.02 billion reported in 2024. For the second quarter, Net profit was $4.79 billion (2024: $3.00 billion).
Net profit attributable to shareholders for the six months amounted to $8.73 billion (2024: $3.98 billion).
Consequently, Earnings Per Share for the six months amounted to $2.26 (2024: EPS: $1.03), while Earnings Per Share for the quarter totaled $1.23 (2024: EPS: $0.77). The twelve-month trailing EPS was $3.58, and the number of shares used in these calculations was 3,905,634,916.
Notably, SJ’s stock price closed the trading period on August 13, 2025, at a price of $39.54 with a corresponding P/E ratio of 11.04x.
Balance Sheet Highlights
The company’s assets totalled $652.70 billion (2024: $569.31 billion). The growth in total assets was primarily due to ‘financial investments’ increasing by $56.60 billion and ‘Loans’ growing by $17.00 billion in the period.
Shareholder’s equity was $110.28 billion (2024: $98.53 billion), representing a book value per share of $28.24 (2024: $25.23).
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