Toronto and Barbados (October 3, 2023) – Sagicor Financial Company Ltd. (“Sagicor” or the “Company”) (TSX: SFC) today announced the completion of its previously announced acquisition of ivari from Wilton Re Ltd.

Andre Mousseau, President and Chief Executive Officer of Sagicor, said:

“This is a significant day in the proud history of Sagicor. The Canadian market, with which the Caribbean has many ties, is a natural one for Sagicor to grow into. ivari is a great fit; its product portfolio aligns with our strength in individual life insurance, their team’s strong culture mirrors ours, and it is financially attractive. Adding ivari immediately enhances our earnings generation, expands our asset base in a highly rated investment grade jurisdiction, and provides an attractive avenue for growth.”

Mr. Mousseau continued, “I would like to extend a warm welcome to all of ivari’s employees and partners. On behalf of all of my colleagues across the 21 countries in which we operate, we welcome you to the Sagicor family and look forward to working with you in the years to come.”

Headquartered in Toronto, ivari is a leading individual life insurer with over 90 years of history serving the Canadian middle market. ivari has approximately 700,000 policyholders across Canada and has approximately 300 employees.