Nation e-Edition

Stuart’s word

PRIME MINISTER Freundel Stuart (centre), flanked by Cabinet colleagues and Government officials, talking about the CLICO issue at a Press conference following a mass canvass in St George yesterday.

Sun, October 28, 2012 - 12:09 AM

AMID RISING PUBLIC ANXIETY, Prime Minister Freundel Stuart is once again assuring CLICO International Life’s (CIL) policyholders that they will get their principal back.

He gave the reassurance yesterday after the company’s judicial managers outlined a new restructuring plan for the beleaguered insurer, which collapsed in 2009 leaving some 35 000 Barbadians out of pocket.

The latest plan makes no mention of any financial contribution by the Government of Barbados but when asked to comment on the matter yesterday, Stuart reiterated a commitment given by his predecessor in office, David Thompson, and backed up by him, that policyholders would “recover the principal of the money they lost in CLICO”.

“We are committed to the best interests of the policyholders of CLICO and from that commitment we are not about to resile,” he stressed during a Press conference following a mass canvass of the St George North and South and St Michael North-East constituencies at Workman’s, St George, yesterday.  (JS)

Please read the full story in today’s SUNDAY SUN, or in the eNATION edition.

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Posted by Orange Peel 1 year, 12 months ago
I wonder when the details of the "recovery of the money lost in Clico" will be divulged. Will it be before or after the general elections? After all 35,000 votes are a large number of votes and could make a huge difference in several constituencies.

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Posted by Pan Wallie 1 year, 11 months ago
When will that be and why only the principal? After all what happen to all the interest they made on our money? Well I guess a lil bit better than none at all!

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