Bahamians have $23 million tied to CLICO - including pensions

Read storyBahamians have $23 million tied into long term investments in CLICO Bahamas, including $800,000 in ZNS pension funds and $3 million in annuity payments from Bahamasair.

There are nearly 400 similar accounts in CLICO's records; some deposits range from $100, others are several million.

At least four people have accounts of more than $1 million.

Prime Minister Ingraham said last week it was too early to tell if policy holders would lose money as a result of the company's liquidation.

He also said that annuity holders "are not likely to be as favorably rewarded at the end of the day as some other policyholders."

Full Story in The Nassau Guardian here

See other CBN stories about this subject here