April 13, 2021

Sagicor buys CLICO, BAT portfolios

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By Anthony Wilson From Trinidad Express THE CENTRAL Bank yesterday afternoon announced the long-delayed sale of the traditional insurance portfolios of CLICO and British American Trinidad (BAT) choosing its preferred bidder Sagicor Life, a subsidiary of Sagicor Financial Corporation. While the Central Bank insisted that Sagicor was chosen after a “transparent, competitive and rigorous bidding […]

Trinidad government confirms CLICO for sale if the price is right

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From Caribbean360 PORT-OF-SPAIN, Trinidad, Tuesday September 23, 2014, CMC – The Trinidad and Tobago government has confirmed that it intends to sell the financially troubled Colonial Life Insurance Co Ltd (CLICO), whose collapse in 2009 sent ripples throughout the Caribbean. Finance Minister Larry Howai, speaking at the meeting of the Standing Finance Committee of the […]

Counting the cost – CLICO

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By David Walker From Caribbean360 SCARBOROUGH, Tobago, Tuesday July 1, 2014 – Throughout this sorry CLICO / CLF saga, we have had great difficulty in extracting any meaningful financial information from those in charge, and who spend billions of our dollars without oversight. We must therefore be grateful for the treasure trove of information disclosed […]

Trinidad central bank seeks to assure policyholders ahead of CLICO sale

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From Caribbean360 PORT-OF-SPAIN, Trinidad, MC – The Central Bank of Trinidad and Tobago is seeking to assure policyholders that the terms of conditions of their policies “have not changed at all” and that the plan for the resolution of the insurance giant “has always included the transfer of the traditional insurance portfolio to a third […]

CLICO policyholders disagree with Barbados central bank governor’s statements

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From Caribbean360 The Barbados Investors and Policyholders Alliance said it had observed that the Central Bank Governor “was very careful to use words like “may not” or “might have”, in his statement. BRIDGETOWN, Barbados, Thursday March 6, 2014, CMC – The Barbados Investors and Policyholders Alliance INC (BIPA) says confusion surrounds a recent statement by […]

Barbados central bank governor says solution found to settle CLICO arrears

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By Ernie Seon From Caribbean360 BRIDGETOWN, Barbados Tuesday February 25, 2014, CMC – Governor of the Central Bank of Barbados, Dr. Delisle Worrell says a cooperative solution has been found to settle outstanding Colonial Life Insurance Company (CLICO) claims in Barbados and the Eastern Caribbean. He told the Caribbean Media Corporation (CMC) that the latest […]

Trinidad high court dismisses claims filed by insurance agents against CLICO

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From Caribbean360 PORT-OF-SPAIN, Trinidad, Thursday January 16, 2014, CMC – A High Court judge has dismissed claims filed by two insurance agents challenging the constitutionality of the Central Bank (Amendment) Act 2011, which they said prevented them from taking legal action against the Colonial Life Insurance Company (CLICO) that received a multi-billion dollar government bail […]

Barbados government to approve new CLICO plan soon – Sinckler

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From Caribbean360 Finance and Economic Affairs Minister Chris Sinckler said that many of the cabinet papers have been completed and submitted regarding the approval of the formal and final restructuring plan for CLICO. BRIDGETOWN, Barbados, Wednesday January 8, 2014, CMC – The Barbados government says it will shortly approve a new plan for the restructuring […]