Caribbean loses Sagicor | Caribbean Life

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A Caribbean company that originated in Barbados more than 100 years ago and grew to have a presence in many regional territories is being sold to a Canadian concern for just over half-a-billion dollars.

The sale for $536 million has been announced of the company that started in Barbados in 1849 as Barbados Mutual Life Assurance Society and moved on to open branches St. Vincent, Trinidad and Tobago, Grenada, St. Kitts, Antigua, Montserrat, Jamaica and Guyana then transformed from single-line life insurance company to a financial services regional group and further expanding into the international financial services market.

The buyer is Alignvest, a special purpose Canadian corporation that links financial asset managers, and…

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