Sagicor Financial Company Ltd has achieved a significant milestone as global credit rating agency Fitch Ratings elevated its long-term issuer default rating from BBB- to BBB. Additionally, the company’s senior unsecured debt rating was upgraded from BB+ to BBB-. Fitch also assigned Sagicor a ‘stable’ outlook, reflecting confidence in the company’s financial health. The upgrade was attributed to Sagicor’s improved core profitability, consolidated contributions from its Canadian subsidiary ivari over the past two years, reduced debt financing costs, and a robust capitalisation profile. Fitch further affirmed ivari’s financial strength rating at A-, maintaining a stable outlook. Andre Mousseau, Sagicor’s President and CEO, expressed satisfaction with the upgrade, emphasizing its validation of the company’s strong capitalisation and its alignment with stable and profitable growth strategies. He noted that the enhanced rating would improve Sagicor’s access to capital and support the execution of its strategic initiatives. Founded over 180 years ago, Sagicor is a leading financial services provider headquartered in Barbados, offering a diverse portfolio of products and services, including life, health, and general insurance, banking, pensions, annuities, investment management, and real estate across the Caribbean.