(Barbados Nation) Already the region’s biggest insurance provider, Sagicor Financial Corporation now has its sights set on taking over the portfolios of not only British American Insurance Company (BAICO) but the controversial CLICO International Life as well.
With total assets of $11 billion spread across the Caribbean, Central American, United States and Britain, the Barbados-headquartered financial giant said it still had room to grow and the two subsidiaries of the collapsed Trinidad and Tobago-based CL Financial could provide Sagicor with even more business.
Sagicor Life’s chief operating officer Edward Clarke told the Saturday Sun that Sagicor was awaiting final word from judicial manager David Holukoff – of accounting firm KPMG – who was appointed by the High Court to find a solution for that failed insurance company.
Sagicor has already successfully acquired and transferred the health insurance and property portfolios of British American Insurance.
