Policyholders of the Colonial Life Insurance Company (CLICO) Guyana can now start breathing a sigh of relief as the liquidator has commenced payouts.
This was confirmed by Deputy Governor of the Bank of Guyana, Dr Gobin Ganga, yesterday.
According to Dr Ganga, these payouts will be made to those that have policies under $30M.
As it relates to the submission of bids for the assets he said that the closing date for bids was only on Friday and as such he was not in a position to comment given that he did not have the requisite information at hand.
A total of 11,290 policyholders with deposits and policies in the failed insurance giant are to be paid.