Done deal

Bernie Weatherhead: did not put a figure on the deal.

By Cheryl Harewood | Mon, February 13, 2012 - 12:07 AM

CLICO INTERNATIONAL General Insurance has been purchased by Sandridge Limited.

Following 18 months of legal discussions, the deal was signed last Friday by hotelier Bernie Weatherhead, on behalf of Sandridge Limited, and Terrence Thornhill, acting on behalf of CLICO Holdings. The signing took place at the law offices of Clarke Gittens Farmer.

In an exclusive interview with the DAILY NATION yesterday, Weatherhead did not put a figure on the purchase price.

CLICO General Insurance branches in Barbados, Antigua and Barbuda, Anguilla, Dominica, Grenada, St Lucia, St Vincent and the Grenadines and St Kitts and Nevis will now operate under the name Sun General Insurance.

“Sun General Insurance will come into effect across the Caribbean during the course of this week. I want to assure present clients of CLICO General Insurance and those with any outstanding claims that they are protected 100 per cent by Sun General,” explained Weatherhead, whose company Sandridge Limited was also an agent of CLICO.

Read the full story in today's DAILY NATION.

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Posted by Payel Garcia 3 months, 1 week ago: Dr Smith at Caribbean Development Bank (CDB) must now be eating his words. His statements were very irresponsible. Dr Smith needs to deal with CDB’s downgrade by Moody Investors and stay out of issues not directly related to Caribbean development. In light of the fact that Barbados makes a substantial contribution to the CDB, the management of that institution needs to be closely monitored.