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Sagicor Life Inc.

Sagicor Life Inc. formerly The Barbados Mutual Group of Companies is a leader in the Caribbean Group Insurance marketplace. Its reputation is based on its financial strength, its image as a solid corporate citizen and its historical commitment to the markets in which it operates. It was the oldest mutual insurance company in the hemisphere and is now one of Insurope's most recent Network Partners. It proposes to aggressively enter the multinational benefit market in the Caribbean as part of its overall corporate marketing plan.

Sagicor Life Inc operates in 18 Caribbean territories. Established in 1840, The Barbados Mutual was one of the worlds oldest mutual insurance companies. The Mutual is now Sagicor. Over the years the Group has evolved into an organisation that offers a wide range of financial products and services including, individual life, group life and health insurance, pensions, annuities, retirement products, property and casualty insurance and banking and credit card services.

Over recent years much has been happening at Sagicor. During this period the company has purchased a company in Panama and has secured regulatory approval. We are also working on an acquisition in Jamaica. These areas will increase the number of countries in which The Mutual is operating to 21. The others being Anguilla, Antigua, Aruba - Netherlands Antilles, Barbados, Bahamas, Belize, British Virgin Islands, Cayman, Curacao, Dominica, Haiti, Grenada, Montserrat, St. Kitts & Nevis, St. Lucia, St. Maarten, St. Vincent, Trinidad & Tobago, Turks & Caicos Islands.

Sagicor Life Inc. is also able to provide coverage to Third Country Nationals and Ex-pats. We currently are providing this through US brokers. Should any clients be interested in this coverage we can be of assistance. Please note that ex-pats should not be working in continental USA as Sagicor Capital Life, the subsidiary writing this business is not registered to do business in the USA.

A.M. Best has affirmed the financial strength rating of A (Excellent) and issuer credit rating (ICR) of "a" for Sagicor Life, and its wholly-owned subsidiary, Sagicor Capital Life Insurance Company Limited. Following the acquisition in September of American Founders Life Insurance Company, now Sagicor Life Insurance Company, A.M. Best increased Sagicor Life Insurance Companys rating to B++ (Very Good).

Business written
Includes Group Life, Health, Pensions, Disability. Sagicor Life Inc. and Sagicor Capital Life has an international Assistance agreement with Canadian Medical Network (CMN) out of Canada that provides assistance services to insureds 365 days a year, 24 hours a day. Through CMN we also have access to a wide range of networks for preferential pricing in a wide range of hospitals in the USA and worldwide.

Administrative Systems
We have recently successfully completed the installation off the Eldorado software in our Head office and have completed the roll-out to all the jurisdictions where we operate.

CariCARE
Sagicor Life Inc has launched a new brand name for its Group Life and health Insurance products and services. CariCARE, which stands for Caribbean care, is the name that will be utilised by both Sagicor Life Inc. and Sagicor Capital Life Insurance Company, in the marketing of Group Life and Health Insurance throughout the Caribbean.

According to Nigel Yearwood, Assistant Vice-President Group Life and Health Division, "The CariCARE Family of Products represents our on-going commitment to provide Caribbean companies with quality group benefits programs at competitive prices along with superior customer service. As proof of this, we have recently made a significant investment to enhance our computerised administration system. This will help ensure that customers receive prompt, accurate service. We have also launched a new comprehensive major medical health care plan called Advantage. This product provides a solution to companies who are looking to manage the costs associated with offering their employees high quality health care coverage. It is a very innovative product".

Unique features of the CariCARE Advantage include available preventative care benefits and a high level of coverage in case of catastrophic illness or accident. Sandiford stated, "The preventative care benefits are not subject to deductibles or co-insurance by plan participants and cover the entire cost of routine medical procedures such as physicals mammograms and well baby immunisations. This encourages individuals to utilise these benefits and helps to keep them healthy by treating minor health problems before they develop into more serious illnesses. The major medical coverage relieves plan participants from the worry concerning financial burdens that could result from heavy medical expenses if a person experiences a serious illness or accident. Knowing that the majority of medical expenses are covered allows a person to concentrate fully on their recovery. These two features, keeping people healthy and providing sufficient coverage in the event of a serious illness or accident, are the essence of what quality health care is all about".

The CariCARE Family of Products consists of a wide range of products including health care plans, group life insurance, accidental death & dismemberment, dental benefits, vision care and international emergency medical assistance.