Saturday, February 22, 2020

Sagicor Prepares To Cut Jobs In Barbados, Saint Lucia

Barbados Today:– Job cuts at insurance giant Sagicor General’s Barbados and St. Lucia appeared imminent Monday as the company announced that it will be undergoing a restructuring process.

In a statement, president and CEO Keston Howell said the decision was taken after a strategic review of the company’s operations.

On the fate of the staff in the two countries, he said: “We sincerely value the contributions of our team and will ensure that the affected team members receive the necessary guidance and support to assist them through this process.”

He suggested the restructuring was a nod to an “ultra-competitive market” in which the firm sought to “improve customer experience and deliver superior value”.

Sagicor General underwrites auto, home, travel and business insurance.

“The company is focused on the delivery of exceptional service to its clients and is continuously reviewing operations to improve efficiencies,” the statement added.

The news comes as Sagicor, the legacy of the Barbados Mutual Life Assurance Society nears its 180th anniversary. It operates in Antigua, Bahamas, Barbados, Dominica, St Lucia and Trinidad and Tobago.

7 COMMENTS

  1. Deja vu , same thing clico and British American said. You have a set agents in Lucia that are belligerent trying to sign you up for products you don’t need. The negative competitive environment created at that company is unhealthy……. doh fuk time with my policy you idiot in Bim.

  2. I don’t understand how you guys copy and paste an article from somewhere and miss out a whole sentence right in the middle. This one: “In a statement, president and CEO Keston Howell said the decision was taken after a strategic review of the company’s operations.”

    I was concerned at first but I see it’s just Sagicor General, not Sagicor Life.

  3. People need to pay attention this company is going to go the same way as Clico and it will be very painful for everyone involved. Some years ago these guys issued 300 million dollars bonds at 8.75% . That’s a time when the bank would easily give a loan at about 7% so clearly they were not able to access finance from the bank. They are also taking deposits from the average person promising good interest. My advice is if is sounds too good to be true it may very well be. I hope the insurance regulators move quickly to save the people and the country for that matter.

  4. No one sem worried about this sagicor thing. When they go down it will be the people who have deposits, policies and those holding their bonds better know as IOU’s who will be crying. I call on the authorities to investigate this fiasco asap or it will take us down

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