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."
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."
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