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Thousands of policies transferred, millions paid out Article by February 12, 2021 The liquidation of the collapsed British American Insurance Company (BAICO) is expected to be completed by May this year, but all the creditors will not be able to recover the full amounts they invested in the Barbados insurer. In making the revelation during an interview with Barbados TODAY, the man in charge of the BAICO liquidation, Dave Collins said however that the judicial manager – accounting firm KPMG – has already dealt with the vast majority of policyholders with third party funding having been provided by the Barbados Government. Collins, the Director of Advisory Services with KPMG – also the Liquidator – said that this funding enabled over 10,000 policies to be transferred to Sagicor Life Inc. and more than $35 million to be distributed to eligible policyholders.

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