Offer made for CLICO Barbados
Mar 03, 2014
(Barbados Nation) CLICO policyholders may be getting a dream offer from a North American firm, which wants to buy all of the assets of Clico International Life (CIL) Insurance Limited and repay the principal sums to the policyholders and investors in Barbados and the Eastern Caribbean. The North American firm has been meeting with CIL’s judicial manager (JM) Deloitte Consulting Inc. as a result of correspondence going back to 2013. The offer to purchase CIL’s Bds$800 million-plus in assets, including large tracts of land, and ensure policyholders receive over Bds$441 million, was contained in the proposal sent to the JM and Minister of Finance Chris Sinckler recently.
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