Sagicor Financial, one of the largest financial services groups
in the Caribbean, completed move of its holding company to Bermuda
from Barbados. Conyers Dill & Pearman advised Sagicor on the
Sagicor Financial Corporation is a Caribbean-based multinational
financial services firm which has been in operation for over 175
years. The company operates in 22 countries in the Caribbean, the
US and Latin America and is currently listed on the London Stock
Exchange, Barbados Stock Exchange and Trinidad Stock Exchange.
On 8 June 2016, the shareholders of the company approved the
discontinuance of the company from Barbados to Bermuda. Taking into
consideration Bermuda's historically strong and stable
infrastructure and credit ratings, a continuance to Bermuda was
deemed to be in the best interests of the company. It is expected
that the company's continuance will provide the potential for
an improved credit rating and better access to capital to fund
future development, as well other business opportunities.
David Cooke and Sophia Greaves, both Conyers' Directors,
advised on the transaction, along with Associate, Sarah Lusher.
David Cooke said: "Sagicor's choice of Bermuda has
reaffirmed Bermuda's position as an attractive jurisdiction and
domicile of choice in the international financial services
The continuance was completed on 20 July 2016 and the company is
now known as "Sagicor Financial Corporation Limited".
"It was a pleasure to advise Sagicor on this important
transaction. We look forward to a long relationship with the
group", concluded Sophia Greaves.
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