SAGICOR MAY BE getting British American’s policyholders, but Government is getting its assets.
Reports indicate that Government is taking possession of the British American Insurance Company (BAICO) building at Collymore Rock, St Michael, which was constructed just before the company collapsed in 2009 and has never been occupied.
This after Sagicor, which is in the process of taking over the life and annuity policies, indicated that it was not interested in the multimillion-dollar building, which is still unfinished.
Government is supposed to issue a bond to Sagicor for the $26.6 million building and surrounding lands. (MB)
Please read the full story in today’s Sunday Sun, or in the eNATION edition.
