Sagicor Life Names New President, COO to Oversee Company's US Operations
February 28, 2013 by Best's News Service
TAMPA, Fla. – Sagicor Life Insurance Co. has promoted Bart Catmull to president and chief operating officer, starting April 1. In his new role, Catmull will oversee Sagicor Life’s operations in the United States.
Over the past 14 years, Catmull has worked in various positions at the company, including COO, chief financial officer and treasurer. Before that, Catmull, a senior manager at PricewaterhouseCoopers, served two years in the national accounting consulting services group, focusing on accounting and reporting, specifically related to insurance and technology companies.
Last fall, Sagicor Life completed its acquisition of Pemco Life Insurance Co., a Washington-based company. In February 2012, Sagicor Life said it agreed to acquire the outstanding shares of Pemco Life Insurance Co. from Pemco Mutual Insurance Co. Sagicor Life, a unit of Sagicor Financial Corp. of Barbados, said it would gain about 10,000 term and whole life policies and 7,500 new customers when the deal was approved (Best’s News Service, Aug. 30, 2012).
With more than $900 million in assets, Sagicor Life Insurance Co. (Sagicor USA) is licensed in 44 states and the District of Columbia. The company sells term, whole life, universal life and annuities that are marketed mostly through independent and general agents (Best’s News Service, Feb. 27, 2012).
Sagicor Financial Corp. operates in 23 countries including the United States, United Kingdom and Caribbean. Sagicor Financial had $142.6 million in U.S. revenue in 2011, $1.35 billion in total revenue, and 632,123 individual life policies in-force overall (Best’s News Service, Aug. 30, 2012).
Sagicor Life Insurance Co. currently has a Best’s Financial Strength Rating of A (Excellent).
(By Fran Matso Lysiak, senior associate editor, BestWeek: fran.lysiak@ambest.com)
