Stabroek News "here has been a run on CLICO International Life Insurance Company and its top management say they are fighting to restore the company.
Terrence Thornhill, president of CLICO Holdings Limited, said on Saturday night that confidence in the institution had been battered and despite all its efforts, people have been calling on it for their money, making a bad situation worse.
He said CLICO had gone from being a very strong company with more than B$150 million in cash at the beginning of 2009 to one forced to pay out more than B$118 million over the past 12 to 14 months."
Terrence Thornhill, president of CLICO Holdings Limited, said on Saturday night that confidence in the institution had been battered and despite all its efforts, people have been calling on it for their money, making a bad situation worse.
He said CLICO had gone from being a very strong company with more than B$150 million in cash at the beginning of 2009 to one forced to pay out more than B$118 million over the past 12 to 14 months."
good for Barbados
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