Nation News, 9/29/2009: CGI WINS CLICO BID

CONSUMERS GUARANTEE INSURANCE (CGI) Limited of Barbados has won the favour of CLICO Holdings’ board here and in Trinidad and Tobago, to buy the assets of its general insurance company.

The news comes 24 hours after a special committee, headed by Permanent Secretary in the Ministry of Finance, William Layne, approved Barbados Public Workers’ Co-operative Credit Union Limited’s bid to buy CLICO Mortgage and Finance Company.

No details on the purchase price have been revealed.