CLICO has been sold to Sagicor Life Inc.
In a media release issued by the Central Bank of Trinidad and Tobago, it is explained that since 2009, both CLICO and British American have been under the control of the Central Bank. Central Bank says a resolution strategy with a number of phases was developed to stabilise the activities of both institutions.
Sagicor will now move to create the schemes of transfer for the companies, which are required to complete the sale.
See the media statement as issued by Central Bank, below: