New option for CLICO Barbados

(Barbados Nation) There is a new option on the table as it relates to the beleaguered CLICO International Life.

Minister of Finance Chris Sinckler announced yesterday that two regional insurance companies were interested in CLICO’s portfolio.

“Both major regional insurance companies have expressed an interest in looking at the CLICO portfolio and working with the Government to resolve this matter. We have given instructions to the judicial managers to do the normal exchange of information . . . to see how this matter can be dealt with.

“If there are real possibilities for this to happen, there is indeed a very active livewire in Option 5 that maybe can, at the end of the day, limit Government’s exposure to the very minimal,” Sinckler said.

Around the Web