Barbados Investors & Policyholders Alliance

05/01/2023

Having spent over 10 years fighting for Barbadian CLICO policyholders, I am delighted to hear news that our counterpart, Peter Permell, of Trinidad & Tobago, after 12 years, has been able to facilitate a remedy on behalf of the unitholders of the CLICO Investment Fund in Trinidad & Tobago. Peter has been relentless in his pursuit for justice for the T&T Policyholders and I commend him for persevering.

June Fowler, Barbados

https://m.facebook.com/story.php?story_fbid=pfbid027TEKtdyaJ2Jmtf7RmUfVvTUHiFRcQeC6WdkWf8WnhQxsczsG8NPp8QdfNaTDF1orl&id=192696260772574&mibextid=qC1gEa

IN THIS the first week of 2023, please permit me to take this opportunity to wish all CLICO policyholders and in particular CLICO Investment Fund (CIF) unitholders Seasons Greetings and

23/06/2020

https://starcomnetwork.net/leroy-parris-arrested-on-fraud-charges/

Former Chairman of Clico Barbados Leroy Parris has been arrested. He was taken into custody yesterday by Barbados police as part of a fraud investigation concerning Bds $3.3 million that was allegedly paid out of the company as legal fees and then allegedly transferred to another company. Sources in...

15/11/2019

It was with much sadness that we heard of the passing of one of BIPA's most loyal members, Dr. Tony Gale, on Wednesday 13th November. Despite his increasingly ill health over the last few years, Tony would make the ever more challenging effort to attend BIPA's meetings and would be most vocal in his frustration at the slow speed of a resolution to the CLICO debacle.

Small comfort that before he died, Tony did at least receive the first payment on his bond, and was thus aware that his dedication to the cause was not in vain.

Tony passed peacefully at the Rendezvous Ridge Retirement Home, where he chose to be for the last three months in order to be with his wife who survives him.

The BIPA Leadership Team send their condolences to Tony's wife and family. May his soul rest in peace.

21/10/2019

Over 3000 ResLife Former Policy Holders Receive Bond Payments

Author(s): Central Bank Of Barbados

Created 18 Oct, 2019

As of 30 September 2019, over 3,000 persons issued Government of Barbados bonds a result of the liquidation of ResLife have received their first quarterly payments. ResLife continues to work closely with the Central Bank of Barbados to keep other bond holders updated on the status of their payments. The Central Bank of Barbados is continuously processing payments to bond holders to ensure that all amounts due for September 2019 are remitted. Central Bank is already in receipt of the information for over 4,000 bond holders who have completed their settlement consultations with ResLife.

Persons who visited our offices between June and August should expect their payments to be lodged to their bank accounts by the end of October. For those who visited in September their payments will follow soon after.

While some persons expressed concern about having to receive 15-year bonds in settlement of small sums, we wish to impress on individuals that unless otherwise indicated, all bond payments regardless of the value will be paid when they become due.

Another common query regarding bonds is if persons will lose their payments if their consultations with ResLife were completed after 30 September 2019 when the first quarterly bond payments were due. ResLife assures these persons that they will receive all amounts due regardless of when consultations are completed.

ResLife is continuously submitting information to the Central Bank for bond holders who visited the office after 30 September, 2019. Therefore, we ask that persons allow 4 - 6 weeks following the completion of consultations for payment to be remitted to the specified bank account.

Until further notice, ResLife will assume responsibility for all queries regarding bond payments, leaving the Central Bank Team free to prioritize payment processing. We will handle all tracing of payments required and advise bondholders of the findings, and manage their expectations.

All queries can therefore be redirected to the ResLife Contact Center 538-8088 or to our email address [email protected].

October 18,2019

08/10/2019

Please check if your name is on this list or if you know anyone whose name appears. ResLife are doing all they can to reach people who have policies but with whom they cannot get in contact .

26/09/2019

Resolution Life Assurance Life Company Ltd (ResLife) continues its structured settlement
process beyond 27 September 2019 and will do so until further notice.
Queries can be sent to [email protected]
Comprehensive information on the Liquidation process can be found at www.reslifeassurance.com/faqs

03/09/2019

ResLife policyholders have been given just under a month to settle their payments, the company said today.

The court-appointed firm, which took up the portfolio of the failed CLICO insurance giant, was scheduled to wind up the distribution of payments to policyholders on August 31, but has extended the deadline to September 27 to accommodate the remaining policyholders.

“To date, ResLife has issued payments to approximately 10,000 policyholders of an estimated 17,000 entitled to settlements, “the company said in a statement.

Over the next few weeks, ResLife said it would be aiming to wrap up the issuing of payments to policyholders including those who declared policies lost and policyholders who required corrections to their payments.

It said: “Policyholders who have not come forward as yet to collect their payments are encouraged to do so within the extended period. ResLife would like to significantly reduce the number of unclaimed settlements before transferring the remaining claims to the Financial Services Commission.”

ResLife also advised that it would also be communicating with the trustees of the group pension plans during this period.

Prime Minister Mottley in her March 20 budget had announced the planned liquidation of ResLife and the wrap-up of its operations.

02/09/2019

11/08/2019

IMPORTANT NOTICE:

RESLIFE URGENTLY NEEDS TO GET IN TOUCH WITH THESE POLICYHOLDERS FOR WHOM THEY HAVE OUTDATED OR NO CONTACT INFORMATION

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02/08/2019

The Leadership Team and members of BIPA would like to extend condolences to the family of Brian Barnes.

One of our very active and vocal members, Brian passed away earlier today. Sadly, he never recovered any of his investment from the BAICO debacle because he was a corporate investor.

We appreciated his support and contributions to our meetings and pray that his family will find peace and comfort at this time.

30/07/2019

Regarding the final payments relating to British American Insurance policies currently being disbursed by KPMG, please be advised that if you did not receive a 70% payment on account from the BAICO Judicial Manager last year, then you are not eligible for the remaining 30%. These payments relate to policy maturities and claims prior to and after Judicial Management only.