CLICO admin staff released temporarily

Twenty-five workers at CLICO International Life in Trinidad have been temporarily laid off from their jobs, according to a local television report.

Their release follows a decision by the supervisor of insurance to bar the company from writing new business.

The company has appealed the ban and is awaiting a response from the supervisor of insurance.

The workers will remain off the job depending on the reply, the state-owned Caribbean Broadcasting Corporation reported Tuesday night.

CLICO said the temporary release of the 25 staffers would not adversely affect the administration of policyholders' business.

The insurance company and its parent CL Financial were bailed out by the Patrick Manning government last year, which is now attempting to salvage some of the businesses, while others have been put up for sale.

- CMC