Trinidad Express / The current status of the CL Financial (CLF) group is that two of its main subsidiaries are under the effective control of Finance Minister, Colm Imbert. Those two subsidiaries, of course, are CLICO and CLICO Investment Bank (CIB) and although it sometimes suits Mr Imbert’s purpose to say that CLICO is under the control of the Central Bank, he knows better. So how do I conclude that CLICO is under Mr Imbert’s effective control? The insurance company is managed on a day-to-day basis by the Central Bank, under section 44D of the Central Bank Act.
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