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Sagicor Financial Q3 net income declines

Sagicor Financial, has reported a net income attributable to shareholders was $15.7m for the third quarter of 2010, compared to $39.6m for the same quarter of 2009.

The total revenue for the third quarter of 2010 was $908m, compared to $913m for the same quarter of 2009.

The group recorded a net income of $33.4m and total comprehensive income of $85.4m for the first nine months of 2010. Revenue for the nine months of 2010 was flat compared with 2009 and amounted to $908.7m.

Premium revenue for the third quarter of 2010 totalled $648.2m (2009 – $641.5m) and was distributed 53% (2009 – 51%) across the Caribbean region, 37% (2009 – 26%) in the UK and 12% (2009 – 21%) in the USA.