IT MAY BE a merry Christmas this year for CLICO policyholders.
This is because the High Court has approved the transfer of the assets and insurance policies from CLICO International Life Insurance Company to the Barbados companies New Life Investment Company (a holding company) and Resolution Life Insurance Company Limited.
These were set up after the regional insurance giant collapsed in 2009.
This clears the way for the beginning of a process that will end with CLICO policyholders receiving long-awaited payments, which chairperson of the Barbados Investors and Policyholders Alliance (BIPA), June Fowler, anticipates will happen “this side of Christmas”. (GC)
Please read the full story in today's Daily Nation, or in the eNATION edition.