Mr. Andre Mousseau reports

SAGICOR FINANCIAL COMPANY LTD. ANNOUNCES CREDIT RATING UPGRADES BY S&P GLOBAL RATINGS AND FITCH RATINGS

S&P Global Ratings has recently upgraded its issuer credit rating (ICR) on Sagicor Financial Company Ltd. to BBB from BB+. S&P also raised the issue-level rating on Sagicor's senior unsecured notes to BBB from BB+. As well, the group credit profile (GCP) was revised upward to a- from bbb. The outlook is stable.

Fitch Ratings recently upgraded the issuer default rating (IDR) on the company to BBB- from BB. Fitch also upgraded the senior unsecured debt to BB+ from BB-. The rating outlook is stable. In addition, Fitch has affirmed ivari's insurer financial strength (IFS) rating at A-. The rating outlook is stable.

Andre Mousseau, president and chief executive officer of Sagicor, said: "Sagicor's strong credit profile has been enhanced by the acquisition of Canadian life insurer ivari, which led S&P and Fitch to upgrade our credit ratings. ivari immediately enhances our earnings generation and expands our asset base in a highly rated investment-grade jurisdiction. The new investment-grade ratings reflect Sagicor's solid capitalization, resilience, and business and geographic diversification. ivari remains a highly rated company under Sagicor ownership with an insurer financial strength rating of A-, as recently affirmed by Fitch."

The full press releases from S&P and Fitch are available on the investor relations section of the company's website.

About Sagicor Financial Company Ltd.

Sagicor Financial is a leading financial services provider with over 180 years of history in the Caribbean, over 90 years of history in Canada and a growing presence in the United States. Sagicor offers a wide range of products and services, including life, health and general insurance, banking, pensions, annuities, and real estate. Sagicor's registered office is located at Clarendon House, 2 Church St., Hamilton, HM 11, Bermuda, with its principal office located at Cecil F De Caires Building, Wildey, St. Michael, Barbados.

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