BAICO rescue

An important deal has been struck between Sagicor Financial Corporation and the judicial manager for the Barbados operations of British American Insurance Company (BAICO).
Barbados-based insurance giant Sagicor has agreed to buy the health insurance and property portfolios of British American Insurance for an undisclosed amount.
This was revealed yesterday by judicial manager David Holukoff, of the accounting firm KPMG. He told the SATURDAY SUN that the deal was struck and sanctioned by the Supreme Court last Tuesday.
Under the agreement, Sagicor Life will take control of British American’s health insurance line, while Sagicor General will take over the property coverage. (GE)
 
Full story in today’s SATURDAY SUN.