Clico, Baico payout coming

SHAWN CUMBERBATCH, shawncumberbatch@nationnews.com

Added 11 January 2017

june-fowler

June Fowler, chairperson of the Barbados Investors and Policyholders Alliance. (FP)

EIGHT YEARS OF financial pain and suffering are on the verge of becoming relief for thousands of CLICO and British American Insurance Company (BAICO) policyholders.

The MIDWEEK NATION learnt that in separate orders issued last month, the High Court has paved the way for affected Barbadians to receive their funds this year.

This was confirmed by Barbados Investors and Policyholders Alliance Inc. (BIPA) president June Fowler.

On December 16 Justice William Chandler approved a transfer agreement between CLICO International Life Insurance Ltd (under judicial management) and New Life Investment Company Inc. (NLICO) and Resolution Life Insurance Limited (ResLife). (SC)

Please read the full story in today’s Midweek Nation, or in the eNATION edition.

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