Sagicor Convention 2024

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SAGICOR CONVENTION

Q ua l i f i c a t ion C rite ria & Ru le s

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TA B L E O F C O N T E N T S Q UA L I F Y I N G G U I D E L I N E S

A DV I S O R S & E X E C U T I V E S

Q UA L I F Y I N G O B J E C T I V E S

PAC E S E T T E R & P R E S I D E N T ’ S C LU B – A DV I S O R S

Q UA L I F Y I N G C R I T E R I A

U N I T/AG E N CY/ B R A N C H M A N AG E R S / B R O K E R S

SAG I C O R B A N K

JA M A I C A

SAG I C O R I N V E S TM E N T S

JA M A I C A

E M P LOY E E B E N E F I T S D I V I S I O N

JA M A I C A & C AYM A N

G R O U P H E A LT H , L I F E , C R E D I TO R

SLI

A D M I N I S T R AT I V E S TA F F

S L I , S L E C I , S G J, S L I C, S G I

P R O P E R T Y & CAS UA LT Y M A N AG E R S

CARIBBEAN

AS S E T M A N AG E M E N T

B A R B A D O S & T R I N I DA D

SAG I C O R B A N K ( B B)

BARBADOS

SAG I C O R U SA

U S A , A DV I S O R S

CONVENTION RULES

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SAGICOR’S

Biennial Convention Sagicor’s Biennial Convention is the Sagicor Group’s premier reward and recognition programme for team-members (Advisors and Employees).

As the Caribbean and the rest of world begin to ease their COVID-19 policies and restrictions on travel, we are happy to launch Convention 2024 in the style, fan fair and level of camaraderie as we would have done in years past.

Convention 2024, will see Sagicor’s top performers travel to Reykjavík, Iceland!

Reykjavík might very well be the smallest big city in the world, but that isn’t stopping Sagicor from hosting one of the best Convention incentive weeks ever, in an exciting destination where there are just so many things to see and do.

Team-members can qualify to attend the Convention 2024 at any one of THREE [3] levels: •

Pacesetters

•

President’s Club

•

President’s Club Lifetime Member

*Subject to change based on prevailing circumstances.

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ADVISORS

Territories Sagicor Sagicor Sagicor Sagicor

Life Life Life Life

Inc [Eastern Caribbean] Inc Jamaica Insurance Company

Qualification Period January 1, 2022 To December 31, 2023 •

The Production Qualification For The Convention Will Be Based On Net Annualised Commissions (Nac) Per The Commission Statement On Individual Life Business Settled Between The Period January 1, 2022 To December 31, 2023.

•

All Business Submitted During This 24-Month Period Must Be Settled By December 31, 2023.

•

100% Of Ac On New Business Settled In General Insurance, Individual Health & Mutual Funds.

•

50% Of Ac Earned On New Business Settled In Group Life & Health And Group Pension.

•

Single Premium Business Will Be Accorded Nac Credit Of 10% Of The Single Premium Amount.

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President’s Club Lifetime Qualification [Pclm] After FIVE [5] consecutive qualifications for convention at the president’s club level, a member will automatically qualify to attend the convention at the president’s club level if he/she meets the pacesetter level qualifying criteria for that convention.

The production objectives for advisors are as follows:

Pacesetter Qualification ALL REGIONS / JURISDICTIONS

USD$

CAS E S

PERS.(%)

YEAR

BARBADOS

85,000

100

88

3

E AS T E R N CA R I B B E A N & B E L I Z E

85,000

100

88

3

JA M A I CA* & CAYM A N I S L A N D S

85,000

100

90

2

T R I N I DA D & TO B AG O * * & D U TC H CA R I B B E A N

85,000

100

88

3

* USING A FACTOR OF J$140 TO US$1 ** USING A FACTOR OF TT$6.75 TO US$1

NOTE An advisor who achieves 80% of the cases objective combined with a minimum nac of USD$100,000 will be eligible to attend the convention at the pacesetter level. A PCLM who qualifies on this basis will qualify to attend the convention at the President’s Club Level.

President’s Club Qualification ALL REGIONS / JURISDICTIONS

USD$

CAS E S

PERS.(%)

YEAR

BARBADOS

105,000

120

88

3

E AS T E R N CA R I B B E A N & B E L I Z E

105,000

120

88

3

JA M A I CA* & CAYM A N I S L A N D S

105,000

120

90

2

T R I N I DA D & TO B AG O * * & D U TC H CA R I B B E A N

105,000

120

88

3

* USING A FACTOR OF J$140 TO US$1 ** USING A FACTOR OF TT$6.75 TO US$1

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Business Unit & Sales Executives Where the business unit fails to meet its new business production objectives during the qualifying period, the cost of attending the convention will be borne by the executive.

Pro-Rata Qualification Where the business unit fails to meet its new business production objectives during the qualifying period, the cost of attending the convention will be borne by the executive.

DAT E R A N G E ( A DV I S O R S J O I N I N G B E T W E E N )

WEIGHT(%)

F E B R UA RY 0 1 , 2 0 2 2 – J U N E 3 0 , 2 0 2 2

90%

J U LY 0 1 , 2 0 2 2 – S E P T E M B E R 3 0 , 2 0 2 2

85%

O C TO B E R 0 1 , 2 0 2 2 – D E C E M B E R 3 1 , 2 0 2 2

80%

JA N UA RY 0 1 , 2 0 2 3 – D E C E M B E R 3 1 , 2 0 2 3

75%

NOTE Pro-Rata qualification is available to advisors only and does not apply to managers.

President’s club qualification requires full production and cannot be pro-rated.

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U N I T/AG E N CY/ B R A N C H M A N AG E R S Pacesetter Qualification 1. 100% Of Unit/Agency/Branch Manager’s production counted to Unit/Agency/ Branch Production.

2. Eligible non-life production (Individual Health, General Insurance, Mutual Funds, Group Life & Health And Group Pension) are included at the percentages stated for advisor production qualification.

3. An average minimum persistency rate of 88% during the convention qualifying period 4. Settle 110% of the unit/agency/branch quota during the qualifying period.

5. Settle a minimum of 80% of quota during each year of the qualifying period NOTE Unit Managers can qualify on their own personal production over two years at either Pacesetter or President’s Club Level.

President’s Club Qualification 1. 100% of Unit/Agency/Branch Manager’s production counted to Unit/Agency/ Branch production.

2. Eligible Non-Life production (Individual Health, General Insurance, Mortgages, Mutual Funds, Group Life & Health And Group Pension) are included at the percentages stated for advisor production qualification.

3. A minimum persistency rate of 88% during each year of convention qualifying period 4. Settle 125% of the Unit/Agency/Branch quota during the qualifying period.

5. Settle a minimum of 90% of quota during each year of the qualifying period

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B R O K E R Q U A L I F I C AT I O N Brokers placing Life, General and Group Insurance Business with Sagicor Life Inc. and Sagicor Life Jamaica may qualify to nominate an employee and spouse of their choice to attend the Convention at the PaceSetter level by settling 160% of the individual requirements as listed above, as well as all other requirements pertaining to qualification for the 2024 Convention, while maintaining a minimum persistency rate of 90% in each year.

NOTE

1. The settled business criteria for Brokers is applicable per jurisdiction and may not be combined across multiple jurisdictions to satisfy qualification requirements.

2. Individuals attached to Sagicor Insurance Brokers are subject to the same qualifying criteria as Advisors attached to Sagicor Life Jamaica.

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SAGICOR BANK JAMAICA R E TA I L B A N K I N G Personal Banking Officer - Pacesetter Convention Triggers • • •

PMS Score > 4 2 year Gross Loan Disbursements per year > $214M. 2 year credit cards issued by branch per year > 200 cards/yr

C O N V E N T I O N S C O R E CA R D – P E R S O N A L B A N K I N G O F F I C E R METRIC

WEIGHT(%)

CREDIT DISBURSEMENTS

40%

GROSS DEPOSIT

30%

# O F A P P R OV E D C R E D I T CA R D S

20%

# O F M E R C H A N T S ( D E V I C E S)

10%

TOTA L

100%

AC T UA L VS . 2 Y R . G OA L

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Top Branch Manager - Pacesetter Convention Triggers • • •

PMS Score > 4 2 Year Gross Loan disbursements per year > $550M 2 Year Credit Cards Issued by branch per year > 800 cards/yr.

Winner: Top Branch Manager who scores highest on BM scorecard, once triggers are met.

C O N V E N T I O N S C O R E CA R D – B R A N C H M A N AG E R S METRIC

WEIGHT(%)

CREDIT DISBURSEMENTS

30%

NET LIABILITY GROWTH

25%

# O F A P P R OV E D C R E D I T CA R D S

20%

S E RV I C E F E E S

10%

NPL PER BRANCH

10%

# O F M E R C H A N T S ( D E V I C E S)

5%

TOTA L

100%

AC T UA L VS . 2 Y R . G OA L

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C O R P O R AT E B A N K I N G Relationship manager – Pacesetter Achieve minimum of US$4.8M Achieve minimum loan fees of US$69,015.000 Achieve minimum new deposits of US$3,638,000 Achieve portfolio NPL target of 4

SMALL BUSINESS BANKING Business Banker Achieve minimum of US$361,826,920 Achieve minimum loan fees of US$7,236,538 Achieve minimum new deposits of US$374,500,000 Achieve business credit cards of 36 Achieve portfolio NPL target of 4

Business Banker Team Lead Achieve minimum of US$1,447,307,680 Achieve minimum loan fees of US$28,946,154 Achieve minimum new deposits of US$1,498,000 Achieve business credit cards of 146 Achieve portfolio NPL target of 17

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SAGICOR INVESTMENTS JAMAICA LIMITED Criteria for selection of Wealth Manager (Sales) Awarded to the top 2 Wealth Managers achieving the highest overall $$ investment product sales for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of US$45M

Qualify at Pacesetter level Double

Achieve minimum of US$50M

Qualify for President’s Club Double

Criteria for selection of Wealth Advisor (Sales) Awarded to the top 2 Wealth Advisors achieving the highest overall $$ investment product sales for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of US$9M

Qualify at Pacesetter level Double

Achieve minimum of US$12M

Qualify for President’s Club Double

Criteria For Selection Of Capital Markets Awarded to two members of the Capital Markets team given the achievement of fee income targets. The two members would be the Head of the unit and the highest scoring team member based on the two-year appraisal average over the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of US$9M

Qualify at Pacesetter level Double

Achieve minimum of US$12M

Qualify for President’s Club Double

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Criteria for selection of Regional Managers Awarded to the Regional Manager whose Region exceeds targets by the greatest percentage in investment product sales for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of 100% of target in US$50M

Qualify at Pacesetter level Double

Achieve minimum of 120% of target in US$60M

Qualify for President’s Club Double

Criteria for selection of Assistant Vice President (Sales) Awarded to the top AVP whose area meets or exceeds targets by the greatest percentage in investment product sales for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of 100% of target = US$225M

Qualify at Pacesetter level Double

Achieve minimum of 120% of target = US$270M

Qualify for President’s Club Double

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G R O U P T R E A S U RY & A S S E T M A N AG E M E N T (G TA M ) JAMAICA Criteria for selection of Fund Management Manager Awarded to the portfolio manager who achieves fees of and funds under Management (FUM excluding Sagicor related parties) for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of FUM US$65M and management fees of US$30M

Qualify at Pacesetter level Double

Achieve minimum of FUM US$75M and management fees of US$40M

Qualify for President’s Club Double

Criteria for selection of SPS Sales Manager Real Estate Sales Manager must achieve a minimum gross annual commission of US$2.5M over 2 years.

Highest gross annual commission over US$2.5M Qualify at Pacesetter level Single Gross annual commission of US$3.25M or over

Qualify for President’s Club Double

Criteria for selection of SPS Sales Representative Sales Representative must achieve a minimum gross annual commission of US$200,000 over 2 years.

Highest gross annual commission over US$200,000

Qualify at Pacesetter level Single

Gross annual commission of US$225,000 or over

Qualify for President’s Club Double

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Mortgage Growth – GTAM Leader Highest Profit Minimum Sales US$10M

Qualify at Pacesetter level Double

Minimum Sales US$12M

Qualify for President’s Club Double

Real Estate Development - GTAM Leader Highest Profit Minimum Sales US$15M

Qualify at Pacesetter level Double

Minimum Sales US$20M

Qualify for President’s Club Double

GTAM Leader Highest Profit Awarded to the Manager whose team achieves the highest overall $$ new client Funds under Management for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of US$60M

Qualify at Pacesetter level Single

Achieve minimum of US$75M

Qualify for President’s Club Double

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Criteria for selection of Treasury Head Awarded to the Treasury Head achieving target for net interest income for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum NII of US$30M

Qualify at Pacesetter level Double

Achieve minimum NII of US$35M

Qualify for President’s Club Double

Criteria for selection of Securities Trading Manager Awarded to the Team member achieving the highest overall Trading Income for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of US$27M

Qualify at Pacesetter level Double

Achieve minimum of US$32M

Qualify for President’s Club Double

Criteria for selection of Stockbroker Awarded to the Team member achieving the highest overall Commission/Fees for the 2 years [2022 & 2023] subject to the following minimums: Achieve minimum of US$3.25M

Qualify at Pacesetter level Double

Achieve minimum of US$4.5M

Qualify for President’s Club Double

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E M P LOY E E B E N E F I T S D I V I S I O N JA M A I CA ADVISORS Annual Commission Earned (ACE) qualification criteria of $120,000 to qualify for Pacesetter and $130,000 for President’s Club.

•

The criteria will be evaluated over the 2 year period leading up to the convention (i.e. [ACEYear 1 + ACEYear 2 ]/2)

•

Exchange rate of JA$140:US$1

Classification Advisors – EB, ILD or Independent

Annual Commission Earned [ACE]

Annual Commission Earned [ACE]

Qualification

US$120,000

100% of ACE

Pacesetter

US$130,000

110% of ACE

President’s Club

PENSION NEW BUSINESS JAMAICA New Pension Deposits of US$4.5M per annum to qualify for Pacesetter and US$5.3M for President’s Club.

•

The criteria will be evaluated over the 2 year period leading up to the convention (i.e. [New Deposits Year 1 + New Deposits Year 2]/2)

•

Exchange rate of JA$140:US$1.

Classification Advisors – EB, ILD, Independent or Relationship Managers

New Pension Deposits [NPD]

NPD (%)

Qualification

US$4.5M

100% of NPD

Pacesetter

US$5.3M

110% of NPD

President’s Club

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BROKERS Annualised Portfolio Value (APV) qualification criteria of US$3M to qualify for Pacecetter and US$3.25M for President’s Club.

•

The criteria will be evaluated each year over the 2 year period.

•

Exchange rate of JA$140:US$1.

•

The top broker from the President’s Club will be selected. In the event that there are no qualifiers for the President’s Club, then the top broker from the Pacesetters will be selected.

Classification Brokers

Annualised Portfolio Value [APV]

Qualification (%)

Qualification

100% APV > US$3M

110%

Pacesetter

100% APV > US$3.25M

120%

President’s Club

President’s Club Lifetime Qualification [Pclm] After FIVE [5] consecutive qualifications for convention at the President’s Club Level, a member will automatically qualify to attend the convention at the President’s Club Level if he/she meets the pacesetter level qualifying criteria for that convention..

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PORTFOLIO MANAGERS

Average Annual Growth in Portfolio Value

Pacesetter Qualification

President’s Club Qualification

15%

25%

Transfers within the portfolio (i.e. between brokers or broker and agent) during the qualifying period will be excluded, ie not reflected as an adjustment in the respective portfolios.

BRANCH MANAGER/DIRECTOR OF SALES Pacesetter Qualification

President’s Club Qualification

Settle Branch Annual New API Quota (in each year during qualifying period)

110%

125%

Minimum Conservation Ratio for the Agents Portfolio

95%

95%

For the Conservation criteria: •

Transfers within the portfolio (i.e. between agents and brokers) during the qualifying period will be excluded from the computation of the conservation rate.

•

The criteria will be evaluated each year over the 2 year period.

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H E A LT H , L I F E , C R E D I T O R – S O U T H E R N C A R I B B E A N Advisors* Annual Commission Earned (ACE) US$120,000

Qualify at Pacesetter level

Annual Commission Earned (ACE) US$130,000

Qualify for President’s Club

Brokers * Annual Portfolio value (APV) 100% - US$3M

Qualify at Pacesetter level

Annual Portfolio value (APV) 110% - US$3M

Qualify for President’s Club

Client Relations Managers * 110% of assigned targets 100% Top VIP retention

Qualify at Pacesetter level

120% of assigned targets 100% Top VIP retention

Qualify for President’s Club

*TARGETED LOSS RATIO FOR ADVISORS, BROKERS, CLIENT RELATIONS MANAGERS BELOW 2% FOR PACESETTER LEVEL AND BELOW 3% FOR PRESIDENTS CLUB

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A D M I N I S T R AT I V E S TA F F

Lines of Business S a g i c o r L i fe Inc Barbados | Belize | Dutch Caribbean | Trinidad And Tobago

Sagicor Life [Eastern Caribbean] Inc Sagicor Group Jamaica Sagicor Life Insurance Company Sagicor General Insurance Sagicor Bank Barbados

Qualification Period January 01, 2022 - December 31, 2023

Pacesetter Qualification •

Employee Of The Year For Each Year

•

Manager Of The Year For Each Year

President’s Club Qualification •

Sagicor Group Employee Of The Year [Sagicorian] 2022 & 2023

•

Sagicor Group Manager Of The Year [Sagicorian] 2022 & 2023

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P R O P E R T Y & C A S U A LT Y M A N A G E R S SOUTHERN CARIBBEAN Territory

Caribbean

Pacesetter Qualification •

Lines of business heads must achieve 5% above profit targets

President’s Club Qualification •

Lines of business heads must achieve 10% above profit targets

President’s Club Qualification After FIVE [5] consecutive qualifications for Convention at the President’s Club Level, a member will automatically qualify to attend the Convention at the President’s Club Level if he/she meets the Pacesetter Level qualifying criteria for that Convention.

ASSET MANAGEMENT BARBADOS & TRINIDAD AND TOBAGO Pacesetter Qualification •

Wealth Managers must achieve 10% above target [Fee Income & Revenue], and the two (2) individuals contributing highest level of fee income will qualify.

President’s Club Qualification •

Wealth Managers must achieve 20% above target [Fee Income & Revenue], and the two (2) individuals contributing highest level of fee income will qualify.

President’s Club Qualification After FIVE [5] consecutive qualifications for Convention at the President’s Club Level, a member will automatically qualify to attend the Convention at the President’s Club Level if he/she meets the Pacesetter Level qualifying criteria for that Convention.

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SAGICOR BANK BARBADOS TBD

SAGICOR USA Production qualification period January 1, 2023 To December 31, 2023 Product

Appointed Agencies – Production Rank within US

Periodic Premium Life

Top 2

Single Premium Life

Top 2

Annuity

Top 5

•

All agencies must be, and remain, in good standing at time of Convention

•

Each agency can qualify for a convention spot once, not multiple times.

- In the instance an agency qualifies in multiple categories, top ranked category wins that agency’s qualification, and next ranked agency moves up in the other category

•

There must be growth over prior year (assuming agency was appointed in 2022)

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CONVENTION RULES

1. Only persons qualifying according to the Sagicor Convention 2024 criteria will be eligible to travel.

2. To qualify, team members must be employed to Sagicor (any company within the group): (a) At the end of the qualifying period and (b) On the date of the convention 3. Qualifiers will be liable for any additional costs resulting from any variation of the official travel schedule for either the qualifier or the qualifier’s travel companion.

4. Any additional costs incurred for transportation, accommodation or meals because of a qualifier’s or travel companion’s special request will be for the qualifier’s account.

5. If for any reason a qualifier is unable to travel, he or she will not be entitled to an alternative reward.

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6. At the time of booking, you will be required to affirm that you will not be, a) travelling against: (a) Physician’s advice or (b) Awaiting medical or surgical treatment at any time during the intended travel dates.

7. At the time of booking qualifiers and travel companions are required to have a valid passport with an expiration date occurring at least SIX [6] months after the end date of travel.

8. Depending on the passport which you hold, one or more Visas may be required for travel to the Convention destination. Sagicor will provide letters to the relevant Embassies/Consulates in support of Visa applications on your and on your spouse’s/travel companion’s behalf. Please note however that Sagicor has no control over whether a visa will be issued to you and/or your spouse/significant other, family member or adult travel companion. A qualifier or travel companion who is unable to obtain the required Travel Visas will not be entitled to receive an alternative reward.

9. A qualifier or travel companion who, because of being unable to obtain the requisite visa[s], requires special travel routing to the travel destination, shall be responsible for any additional cost incurred relating to that special routing.

10. A qualifier who advises that his/her registered guest is unable to obtain required Travel Visa[s] after the guest’s ticket has been purchased shall either: (a) Pay for the purchase of a ticket for a substitute guest, or (b) Forfeit the right to bring a guest to the Convention.