Scotiabank to Sell Insurance Operations in Jamaica, Trinidad & Tobago

Scotiabank Jamaica and Scotiabank Trinidad & Tobago have entered into agreements to sell their respective subsidiaries: Scotia Jamaica Life Insurance Company and Scotia Life Trinidad and Tobago Limited to Sagicor. Scotiabank announced that the move is part of its strategy to focus the Bank's efforts on its core markets with significant scale. Scotia noted that the transactions are not financially material to the company and that its common equity tier one capital ratio will increase by approximately 10 basis points on closing.

(Source: NASDAQ)