Sagicor has been chosen to acquire the traditional portfolios of BAT and CLICO. In a statement sent to OJOWORLD, CLICO said : “Agreements for the transfer of their respective traditional insurance portfolios to Sagicor were executed today by CLICO and BAT.”

Sagicor intends to prepare the Schemes of Transfer in respect of the CLICO and BAT policies for regulatory approvals. The entire transfer process may take several months during which time CLICO and BAT will continue to administer their respective portfolios until the Schemes of Transfer are confirmed.