CLICO branch in Belize facing liquidation

CLICO branches throughout the Caribbean have been folding and in Belize the local branch is now reportedly also facing liquidation. From what we have ascertained, there are three local agencies in Corozal, Orange Walk and in Belize City, with about fifteen agents and close to twenty employees whose fate with the company will be determined in the next few days pending a decision from the courts to wind down the insurance company. News Five contacted the Belize City Branch who referred us to the Insurance Supervisor Alma Gomez who in turn said she needed time to look into the report. What we do know is that there are about ten thousand life insurance premium holders whose policies are not exposed, but this may not be the case for annuity holders. On February twenty-fourth, the Supreme Court of the Bahamas ordered CLICO Bahamas to be placed in liquidation. Days later the Belize government secured a judicial order placing CLICO Belize under the management of the Supervisor of Insurance to protect the interest of policy holders. CLICO has already closed operations in the Turks and Caicos and aside from the Bahamas and Belize, it is also under government management in Guyana. We will have more on this developing story.