Colonial Life Insurance Company (Trinidad) Limited (CLICO), British American Insurance Company Limited (BAICO) and the CL Financial Group Limited (CL Financial) - Advisory Warning No. 2 of 2009

The British Virgin Islands Financial Services Commission (the Commission”) is issuing this advisory warning under Section 4(1)(l) of the Financial Services Commission Act, 2001. The Commission wishes to inform the public that Colonial Life Insurance Company (Trinidad) Limited (CLICO), British American Insurance Company Limited (BAICO) and the CL Financial Group Limited (CL Financial) are not licensed to carry on financial services business in or from within the Territory.

Members of the public are invited to inform the Commission, as a matter of urgency, whether they have at any time purchased financial products of any kind (including insurance or investment type products) from, or conducted any transactions with, CLICO, BAICO or the CL Financial Group Limited. 

You may contact one of the following individuals in our Insurance Division:

Elton Lettsome, Acting Director                Stanley A. Dawson, Deputy Director

 E-mail: lettsomee@bvifsc.vg                     Email: dawsons@bvifsc.vg

Telephone: (284) 494-1324 / (284) 494-4190

Facsimile: (284) 494-5016

Signed:

Robert A. Mathavious

Managing Director/CEO

British Virgin Islands Financial Services Commission

Pasea Estate, Tortola, British Virgin Islands

E-mail: commissioner@bvifsc.vg

Website: www.bvifsc.vg

Hours: Monday - Friday 8:30 a.m. – 4:30 p.m.