Mr. Andre Mousseau reports

SAGICOR FINANCIAL ANNOUNCES CREDIT RATING UPGRADES BY AM BEST

A.M. Best Rating Services Inc. (AM Best) recently upgraded the long-term issuer credit rating (ICR) of Sagicor Financial Company Ltd. to BBB (good) from BBB minus (good) and the long-term issue credit rating (IR) to BBB plus (good) from BBB (good) of its $550-million 5.3 per cent senior unsecured notes due 2028. In addition, AM Best upgraded the financial strength rating (FSR) to A (excellent) from A minus (excellent) and the ICR to A (excellent) from A minus (excellent) of ivari, Sagicor Life Insurance Company, Sagicor Life Inc. and Sagicor General Insurance Inc. Concurrently, AM Best has affirmed the FSR of A minus (excellent) and the ICR of A minus (excellent) of Sagicor Reinsurance Bermuda Ltd., as well as the FSR of B plus plus (good) and the ICR of BBB plus (good) of Sagicor Life Jamaica Ltd. The outlook for all ratings is stable.

Andre Mousseau, president and chief executive officer of Sagicor Financial, said: "We are pleased with the continued recognition of our financial strength by way of improvements in our credit ratings, both at our parent company and at many of our operating subsidiaries. These improved ratings will allow us to continue to expand our distribution reach and improve our cost of capital."

In upgrading the credit ratings, AM Best cited Sagicor's consolidated risk-adjusted capitalization at the strongest level, as measured by Best's capital adequacy ratio (BCAR), together with its very strong balance sheet strength and its strong operating performance.

Current credit ratings are shown in the attached table.

The full news release from AM Best is 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 185 years of history in the Caribbean, over 90 years of history in Canada and over 70 years of history in the United States. Sagicor offers a wide range of products and services, including life, health and general insurance, banking, pensions, annuities, investment management, 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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