Thursday, July 20, 2017

Sagicor Bank sells Block of Mortgage Portfolio

On July 20, 2017, Sagicor announced that Sagicor Bank Jamaica Ltd (SBJ) and Victoria Mutual Building Society (VMBS) have entered into an agreement for the sale of a block of mortgages from SBJ to VMBS.   This transaction will not affect the terms of the existing mortgage arrangements.  

Donovan H. Perkins, President of SBJ stated that “our clients can be assured that all of the terms of the existing mortgage agreement with Sagicor will continue to apply.” Perkins went on to say that ”this transaction is not unusual between financial institutions” and that Sagicor Bank remains an active mortgage lender in the housing market.

The process currently underway between both SBJ and VMBS has been smooth, and all clients that will be impacted will be communicated with directly by Sagicor Bank.  In the interim, all queries can be directed to your Sagicor Bank representatives, the Sagicor Contact Center at 1-888-SAGICOR, or via email to SBJ_MortgageQuery@sagicor.com.


About Sagicor Group Jamaica

Sagicor Group Jamaica is a financial services conglomerate.  The  Company  commenced  operations in  1970 as  Life  of  Jamaica  Limited,  the  first locally owned  life  insurance  company  and  the  first  life  insurance  company  to  be  listed  on  the  JSE.  The Group offers products and services in the areas of Banking, Insurance, Investments, Real Estate, Asset Management and Retirement Planning.  Sagicor  Life  Jamaica  Limited  is  the  leading  Life  and  Health  insurance provider in  Jamaica; the Bank is one of Jamaica’s largest bank, and Sagicor Investments is one of the top Investments Company in the Country.   Sagicor Group Jamaica is a member of the wider Sagicor Financial Corporation.  Sagicor Financial Corporation operates in over 20 countries and its operations date back to 1840.

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