On December 1, 2022 the Central Bank relinquished emergency control over Colonial Life Insurance Company (Trinidad) Ltd. (CLICO). The Central Bank had exercised such control since 2009.
See link to the Gazette Notice No. 1752 regarding the exit for CLICO.
See link to Legal Notice No. 32 2009 whereby the Central Bank assumed emergency control of CLICO.
A press conference was held on December 6, 2022 with Central Bank Governor, Dr. Alvin Hilaire and Executive Chairman of CLICO, Mrs. Claire Gomez-Miller to discuss the exit and its implications.
View the press conference via the Bank’s YouTube channel at https://youtu.be/z6u0Lfn1SyA or Facebook page at https://www.facebook.com/centralbanktt
Read More
Central Bank of Trinidad and Tobago recognizes the difficult circumstances CLICO’s employees have endured over the past five years.
Read More
Update on the Resolution Plan for Colonial Life Insurance Company (Trinidad) Limited (CLICO)
Read More
On February 13 2009, Central Bank of Trinidad and Tobago assumed control of CLICO in accordance with its special emergency powers under Section 44D of the Central Bank Act Ch. 79:02.
Read More
Pursuant to its powers under Section 44(D) of the Central Bank Act, Central Bank terminated the appointments of Mr. Gerard Yetming as Chairman of CLICO and Ms.Carolyn John as Managing Director
of CLICO on Friday 5th June, 2015.
Under the terms of Government’s bailout of CLICO in 2009 and 2011, related parties which included directors and officers of CLICO were not to be paid with public funds, on the principle that these parties may have contributed to the financial collapse of the institution.
Read More
By way of Legal Notices Nos. 32 and 33 of 2009, the Central Bank on February 13, 2009 assumed control of CLICO and BAT, respectively, pursuant to its special emergency powers under Section 44D of the Central Bank Act Ch. 79:02 (the Act).
Read More
By way of Legal Notices Nos. 32 and 33 of 2009, the Central Bank on February 13, 2009 assumed control of CLICO and BAT,respectively, pursuant to its special emergency powers under Section 44D of the Central Bank Act Ch. 79:02 (the Act).
Read More