By the time the insurance industry was transferred to Central Bank in mid-2004, CL Financial, with CLICO as its main financial company, had already become a major conglomerate in Trinidad and Tobago and in the region with 60 subsidiaries, operating in several fields, and spread over 20 countries – in the Caribbean, Central and North America and Europe.
Attention is paid to whether the withdrawal of standby funds will encourage an increase in business fixed investment as the impact of COVID-19 wanes and uncertainties decline.