Stuart's word


Added 28 October 2012


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)


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