Thursday, March 28, 2024

ResLife’s payments coming soon

Date:

Share post:

Policyholders and claimants of Resolution Life Assurance Company Ltd (ResLife) are in for some big bucks.

 The thousands of claimants are expected to benefit from a settlement package comprised of a $103 million cash payout, and $300 million in bonds, the company revealed in a media statement yesterday.

The ResLife settlement process will see eligible policyholders or claimants due less than $20 000 receiving cash. Those due amounts greater than $20 000,  will receive $20 000 in cash and the balance in the form of 15-year bonds.

The statement from the Worthing, Christ Church insurance company comes as it fulfils Government’s mandate to settle the company’s insurance liabilities and wind up operations, while putting cash in the hands of its thousands of eligible policyholders. (BA/PR)

 

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...