Time has run out on CLICO International Life Insurance Limited (CIL) and Government.
Unless a “white knight” comes along with a last-minute injection of funding to save the cash-strapped insurer from liquidation within the next few weeks, its millions of dollars in assets, including prime real estate, will be on the chopping block from “some time” next month.
This new development caused cries of betrayal from policyholders’ “sickened” representative June Fowler, who called the CIL affair a “scandal”, and a call for clarity from St Vincent and the Grenadines Prime Minister Dr Ralph Gonsalves.
Please read the full story in today’s Daily Nation, or in the eNATION edition.
