According to the company's financial report for the nine-month period ending September 30, total revenue amounted to $1.05 billion. Compared to $949 million in September 2006, this represented overall growth of 11.6 per cent.

The unaudited income statement showed that net premium revenue grew from $556.4 million to $601.9 million this year.

There was also further evidence of growth as net income for the period increased from $106.5 million to $136.7 million.

Net income attributable to shareholders also rose from $80.2 million to 100.4 million, representing a 25.2 per cent increase.

Sagicor Financial Corporation chairman Terrence Martins said the growth in net income attributable to shareholders as well as group
net income was consistent with the company's expectations.

He added that the consistent increase in these areas over the last three quarters was due to continued growth in revenues, premium and investment income both making their contribution.

The balance sheet remains strong, with assets totalling $7.2 billion and total equity standing at $1.1 billion.

During this quarter, Sagicor completed the acquisition of Lloyd's of London Insurance Syndicate 1206 and its associated companies.

Martins said this is an important acquisition since it enables the group to expand its property and casual insurance business. (NB)