CLICO

Colonial Life Insurance Company (CLICO) was part of the CL Financial conglomerate, one of the largest privately-held corporations in the Caribbean. Its collapse in 2009 had far-reaching implications across the region.

Background

CLICO's failure was precipitated by aggressive expansion, poor risk management, and the 2008 global financial crisis. The company had over 80,000 policyholders and liabilities exceeding $2.5 billion EC$.