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Permel has no problem with Duprey reclaiming CLICO.

Permel has no problem with Duprey reclaiming CLICO.

Peter Permell

Peter Permell, Chairman of the CLICO policyholders group

Chairman of the CLICO policyholders group, Peter Permell says that Lawrence Duprey may be well within his rights to reclaim ownership of CLICO.

Duprey recently stated that he wants the state to return CL Financial and its subsidiaries Colonial Life Insurance Company of Trinidad and Tobago (CLICO) and the CLICO Investment Bank (CIB) after government took over management of the companies in 2009 following its financial troubles.

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Permell is of the belief that since Duprey is a major shareholder of CLF he is legally entitled to retain what is left of the company once debts to policy holders and the government are settled.

Speaking on the Power Breakfast Show this morning Permell elaborated on the matter

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