Thousands of policyholders who invested in the ill-fated CLICO group here in Barbados have lots of reasons to be smiling today.
They will finally start to see some of their money.
Resolution Life, the company which emerged from the CLICO ashes, stated monthly annuity payments for January and February this year will be paid up.
On March 31 those owed outstanding payments on pensions, death benefits and maturities should be paid while those with Executive Flexible Premium Annuities (EFPAs) can look for money at the end of July.
About 15 000 policyholders are eligible and no one is happier than June Fowler who led the fight at the helm of the Barbados Investors and Policyholders Alliance (BIPA) for the past eight years.
“I always knew in my heart that I was not giving up and something was going to happen, not knowing when or how long, but you’ve come to recognise over time once you stay the course you have to finish the race. It feels good to see this,” Fowler said. (ST)
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