Resolution Life Barbados, Resolution Life UK (?)
Surprise, surprise after almost a decade Resolutions Life Assurance Company (Reslife)– a company formed to receive the assets of the failed CLICO Insurance Limited with a top up from taxpayers- was recently established. Why have we expressed ‘surprise’? There is a general election bell to be rung soon of course.
On behalf of the former CLICO policyholders we wish the new company well but …
Meet the Board of Reslife:-
It is interesting to note based on a search of CAIPO that Resolution Group Reinsurance (Barbados) Ltd was registered 3 July 2014 # 38385 and Resolution Life Assurance Company Limited was registered on 30 July 2015 # 39671. It prompts the question WHY did the powers that be chose the name for the new company when a Google search revealed that there is a UK based insurance company with the name Resolution Life?
We do not expect that the Barbados flavour of Resolution Life will operate outside of Barbados in the foreseeable future to make the similarity in names an issue but still it the rationale for the name demands an explanation.