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IT LOOKS LIKE it’s going to be a happy new year for British American Insurance Company (Barbados) Limited (BAICO) shareholders.
BAICO judicial manager (JM) KPMG yesterday announced that not only had the court given it the green light to reach an agreement for the transfer of life and annuity policies to Sagicor Life Inc., but Government was providing “financial support” for an overall “solution” expected to be completed as early as possible in 2016.
This development, which comes following recent news that the court had sanctioned the Barbados-first plan for CLICO International Life Insurance Limited, was welcomed by the Barbados Investors and Policyholders Alliance, which said “2016 will start off on the right foot for BAICO policyholders”. (SC)
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