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Saturday, July 23

Big Clico payout

Trinidad and Tobago's Newsday"SIX Clico (Trinidad) Executive Flexible Premium Annuity (EFPA) policyholders have scored a major victory against the insurance giant, and are to receive a huge cash payout, amounting to millions of dollars.

The six sought judicial intervention to recover millions in investments in the insurance company.

In her ruling yesterday, Justice Maureen Rajnauth-Lee ordered Clico to pay the six EFPA policyholders, more than $58.7 million, plus accrued interest.

Their victory is likely to impact on thousands of EFPA policyholders who are also seeking payment."