At the end of February, $4.4B had been paid out to 8,634 policyholders of the now liquidated CLICO (Guyana) Inc.
This was revealed by Minister of Finance Ashni Singh during his budget speech on Monday.
Singh said: “In the insurance sector, progress continues to be made in resolving the domestic chapter of the Clico debacle. As at the end of last month, amounts totalling $4.4 billion were paid out to 8,634 policyholders up to a maximum of $30 million per policyholder, as a result of which virtually all small policyholders were paid in full.”
He said that the liquidator intends to continue to gather more funds from the sale of company assets
