Sagicor prepares to cut jobs in Barbados, St Lucia

Job cuts at insurance giant Sagicor General’s Barbados and St. Lucia appeared imminent Monday as the company announced that it will be undergoing a restructuring process.

In a statement, president and CEO Keston Howell said the decision was taken after a strategic review of the company’s operations.

On the fate of the staff in the two countries, he said: “We sincerely value the contributions of our team and will ensure that the affected team members receive the necessary guidance and support to assist them through this process.”

He suggested the restructuring was a nod to an “ultra-competitive market” in which the firm sought to “improve customer experience and deliver superior value”.

Sagicor General underwrites auto, home, travel and business insurance.

“The company is focused on the delivery of exceptional service to its clients and is continuously reviewing operations to improve efficiencies,” the statement added.

The news comes as Sagicor, the legacy of the Barbados Mutual Life Assurance Society nears its 180th anniversary. It operates in Antigua, Bahamas, Barbados, Dominica, St Lucia and Trinidad and Tobago.