BF&M Insurance, the Bermudan-run parent company of the Insurance Corporation of Barbados Limited (ICBL), has admitted the company took punitive action against high-level staff in 2016 after learning of improper action within the organisation.
But president and chief executive officer John Wight when contacted in Bermuda on Tuesday, did not release the names of those sent packing from the company, nor did he confirm if the firings had anything to do with a money laundering investigation by the United States’ Federal Bureau of Investigation (FBI) which led to this week’s arrest and arraignment of former minister Donville Inniss.
“In 2016 the board of directors of ICBL became aware of improper conduct by certain senior managers. ICBL has a zero tolerance policy for this conduct and immediately dealt with the issue in the appropriate manner. I am not able to elaborate any further on this matter at this time,” the BF&M chief told the NATION, while taking time out from his annual holiday. (BA)
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