Grenada Authority for the Regulation of Financial Institutions confirms letters sent to 2,354 CLICO policyholders under Grenada distribution plan

The Grenada Authority for the Regulation of Financial Institutions (GARFIN) published an update for policyholders of CLICO International Life Insurance Ltd on implementation of the Grenada Distribution Plan mandated by the High Court of Grenada. The judicial management team has issued letters and supporting appendices by post and email to the first two categories of policyholders, covering 2,354 policyholders with a proposed distribution of up to $2.05 million, and will send letters to the final category by 20 October 2025. Distributions are being sequenced by claim size, with categories covering claims between EC$50 and $1,000, claims above EC$1,000 but below $15,576, and claims above EC$15,576. The Judicial Manager has also launched an official CLICO website to provide updates on judicial matters, and policyholders or claimants active as of 30 November 2014 who have not received a personalised letter by 31 October 2025 are instructed to contact the judicial managers’ representatives to confirm or update policy information. GARFIN noted it remains in close communication with the judicial management team and urged policyholders to review and respond to correspondence as needed, while reiterating its ongoing supervisory focus on insurers’ statutory solvency, insurance fund assets, reinsurance coverage, market conduct and risk management.