Friday, March 29, 2024

For the sake of investors

Date:

Share post:

CORPORATE HOLDERS of CLICO Executive Flexible Premium Annuities (EFPAs) should be thankful Government is extending a hand of protection.

That assertion was made yesterday by Parliamentary Secretary in the Ministry of Finance, Senator Jepter Ince, as the Senate debated the CLICO International Life Insurance Ltd. (Guarantee) Bill.

He said Government did not have to get involved in the private entity, but opted to do so to protect investors.

Ince informed the Upper Chamber that he had worked as a fund manager at CLICO  and later became the investment manager at the National Insurance Scheme (NIS). However, he recalled advising the NIS board against investing in the EFPAs in the late 1990s and again in 2008. (WILLCOMM)

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

No decision yet on Lester Vaughan School

A firm decision has not yet been made regarding when the Lester Vaughan School will be reopened. Following a...

BDF to conduct simulation exercise on April 2 & 3

The Barbados Defence Force (BDF) will conduct a Mass Casualty Simulation Exercise from Tuesday, April 2, to Wednesday,...

Barbadians reminded to file taxes online as filing season starts

The Barbados Revenue Authority (the BRA) is advising that tax filing season for 2023 begins on April 1 this...

Minister Abrahams’ statement on Ismail Patel’s passing

Below is the full statement by Minister of Home Affairs and Information, Wilfred Abrahams: I was saddened to...