Payments coming for clients of CLICO in The Bahamas

Policyholders of insurance company CLICO limited, in The Bahamas, who are still current, will begin to receive payouts before the end of the month.  
    
The announcement from Prime Minister Perry Christie, came more than seven years after CLICO  went into liquidation.
    
During his mid-year budget communication, Mr Christie said cash payouts are estimated at $16 million.
     
He said the liquidator of CLICO proposed and the Government has agreed to a plan to make pay outs to all existing policyholders.
    
Mr. Christie said, under the plan, surrendered policies, death benefits, medical claims and staff pensions will be paid in full.