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22 May 2012

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Sagicor sell-off failed on unrealistic valuation and legacy

7 July 2011

Unrealistic price expectations and legacy issues attached to back year liabilities contributed to Sagicor's failure to successfully sell its Lloyd's business, The Insurance Insider understands.

According to well-placed sources, Sagicor was requesting an effective premium to book value approaching the 2.5x that its smaller peer Jubilee was able to command when it was sold to Ryan Specialty in May.

Last month it emerged that Caribbean insurance group Sagicor Financial had withdrawn its plans to sell its Lloyd's arm after it...

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