Trinidad & Tobago – July 2, 2020 – Scotiabank Trinidad & Tobago Limited (“Scotiabank Trinidad & Tobago”) and Sagicor Financial Corporation Limited ("Sagicor") announced today that they have mutually agreed to not proceed with the 20-year distribution agreement for insurance products and solutions in Trinidad & Tobago. As a result, the sale of ScotiaLife Trinidad and Tobago Limited will also not proceed.

Scotiabank Trinidad & Tobago remains committed to providing high-quality insurance solutions to our customers through ScotiaLife Trinidad & Tobago Limited and this will be supported by ongoing investments in insurance systems, new products and digital solutions to help our customers with all their protection needs.

As recognized by Scotiabank’s recent award from The Banker Magazine as the Best Bank 2020 in Trinidad & Tobago, Scotiabank is a leading bank in the region with a strong and dedicated team, and significant digital advancements made over the last five years. Scotiabank Trinidad & Tobago is well positioned to build on this success as it solidifies its position as the relationship bank of Trinidad & Tobago.

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future,” we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 97,000 employees and assets of over $1.2 trillion (as at April 30, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit our website and follow us on Twitter @ScotiabankViews.

For media enquiries only: 

Yanique Forbes-Patrick 
Public Affairs and Communications Director, Scotiabank 
Yanique.forbes-patrick@scotiabank.com
PH: (876) 997-2910