Update on British American Insurance Company in the Eastern Caribbean and CLICO
In November 2009, the ECCU Governments announced a strategy to address the collapse of British American Insurance Company within the Eastern Caribbean (EC). Following this, we provided further information about the acceptance of the proposal for a new entity by a number of the Courts within the region. All Courts within the EC have now approved the proposal.
The purpose of this release is to provide an update on activities to date.
Achievements to Date
The ECCU Governments and the Judicial Managers have worked to achieve the following results over the past seven months: