CLICO Holdings (Barbados) Ltd. wishes to confirm that the Supreme Court of St. Lucia today appointed a Judicial Manager, Mr. Richard Surage, of PKF Professional Services Inc. over that country’s CLICO International Life’s portfolio following an application filed by the St. Lucia Registrar of Insurance. Mr. Surage has been appointed to assess, manage and make recommendations for the St. Lucia operation only.

The CLICO International life island network encompasses Anguilla, Antigua, Barbados, Dominica, Grenada, Montserrat, St. Kitts, St. Lucia and St. Vincent. With such a huge base of investments apparently in Limbo, this is why many are forming consortiums, like BIPA in Barbados - here is one of many Policyholders with a portfolio FULL of queries!

According to the St Lucia court documents, there will be a coordination of efforts with the governments of Barbados and the OECS territories and the intended Judicial Manager for Barbados. This would ensure that they are acting in tandem in relation to their assessment, recommendations on safegurading policyholder’s interests and decisions on the company’s future. This spirit of collaboration is one fully endorsed by CLICO and we intend to play our part by working to achieve solutions in the interest of policyholders.

CLICO recognizes that this process has been an extended one for policyholders and we believe that the Judicial Management process convened in Barbados for its local and OECS operations as well as the St. Lucia appointment will augur well for policyholders across the region.

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