PARAMARIBO – Since the suspension of payment granted to insurance company Clico Suriname was lifted in October, there is calm among policy holders and creditors who want their money back. “Those who want we pay back in full, in accordance with the guidelines of the relaunch plan”, says Self Reliance director Maurice Roemer. Self Reliance took over Clico Suriname when Clico came into trouble due to financial problems of its parent company, CL Financial from Trinidad. According to Roemer, Self Reliance’s takeover of Clico was a test case for how Suriname was dealing with the effects of the global crisis. After all, the problems of CL Financial and its Clico subsidiaries were caused by the collapse of the real estate market in the USA, in which it had invested heavily. Before the takeover, a judge granted suspension of payment to Clico Life starting in June 2009. The suspension was lifted on October 29 of last year, and from that date, the company must pay those who want their money back in accordance with a relaunch plan approved by the judge. Roemer believes that there are no problems because a good plan was presented and the policy holders and creditors approved it.
