Thursday, April 25, 2024

CLICO progress


Share post:

CLICO HOLDINGS BARBADOS Limited has been placed in receivership with immediate effect, thereby speeding up the likelihood of repayment for CLICO International Life’s (CIL) 25 000-plus policyholders.
Two years after being appointed judicial manager of CIL insurance company, Deloitte Consulting Inc. yesterday placed CLICO Holdings under receivership, stating that its decision was in keeping with the basis of its appointment to act in the interest of CIL’s policyholders.
The judicial manager also appointed Patrick Toppin and Ikins Clarke as receiver-managers.
“By placing CLICO Holdings under receivership, the judicial manager’s intent is to preserve the assets of CLICO Holdings and maximise the recovery value on behalf of policyholders,” Deloitte explained in a statement to policyholders and the media yesterday.

Previous article
Next article


Please enter your comment!
Please enter your name here

Related articles

Body found near Culpepper

There are reports reaching The Nation that a body was found in the area of Culpepper, St Philip. Initial...

Time to focus on national issues

ARE THE DEMS united, or are they fragmented? The reason I ask though is because shortly after Member of...

Dominica High Court overturns ban on same-sex relations

Dominica's High Court has overturned a ban on consensual same-sex relations in the Caribbean island nation. The court ruled...

Usain Bolt named ICC Men’s T20 World Cup 2024 Ambassador

ST JOHN’S, Antigua – The International Cricket Council (ICC) have announced Olympic legend Usain Bolt as an ambassador...