Unprecedented Depravity in a Life Insurance Company

A Disgrace to the Canadian Actuarial Profession

“How Camest Thou in this Pickle, Trinculo?”
→ Restitution

Restitution” is an easy and justified concept to embrace, but near impossible to achieve when special interests with unlimited resources band together in collusion to hide their misdeeds. If you were victimized with losses of your saving, you have a right to be very angry, but there will be no “restitution” unless we, “EFPA,” like them, band together.

I understand, dear “EFPA,” as you may have suffered grievously for so long, grown weary and prefer to put the CLICO nightmare behind you, but truth and history do matter, as does restitution, if not for you then for the sake of the suffering of your loved ones, or you play into their wicked hand. There are vultures circling CLICO assets that belong to you. Our strength is in numbers, and even a small group of focused “EFPA” can turn this around and bring restitution.

→ Questions for Inquiring Minds

Read on to learn why I believe the people of the best-kept secret, beautiful Trinidad and Tobago, my family loved, need to raise their collective voices IMMEDIATELY, stand up to the GORTT, demand a fair and impartial look at the losses incurred from putting their faith and trust, and hard-earned capital, into CLICO and to unite to reclaim what is rightfully theirs, before it’s gone.

I have a book to publish several months into 2022, telling the story of the CLICO I knew in 2002 when appointed CEO, as a grateful nation dined at CLICO’s table, then moving along through my departure from CLICO in April 2008 and an astonishing series of unfortunate events that befell me, (with a few laughs to make it bearable) arising from the Sept 2008 worldwide financial crisis which led to the Jan 30, 2009 MOU, and continuing to date with the lies, spin, hysteria, and buffoonery. 

I provide a link to the Prologue of the book below, but we don’t have time to wait so my intent with this website is to earn the trust of EFPA policyholders, show them step by step how their money was taken to make them very angry, and gather up the courage to fight for truth and justice, stand up to the GORTT to reclaim what is rightfully theirs because there is so much money at stake.


Do you wonder what happened to the statutory trust fund protection you were promised? Where did all your money go?  How come everybody but EFPA got paid? Now, CLICO is a life insurance company so at least 90% of the money came from policyholder pockets to buy those trophy assets that GORTT coveted, and it does not matter that the money flowed into the likes of methanol plants or Republic Bank shares.

CLICO was unable to pay its debts to you, dear “EFPA,” so 3 basic questions for inquiring minds:

  • How could they tamper with the assets in the statutory trust fund?
  • Why did not 100% ownership of those assets accrue to you? It’s your money that bought them. CBTT had a fiduciary, stewardship duty to manage assets meticulously on our behalf, first do no wrong. Yet, assets were looted and what we were given is totally disconnected from the assets.
  • How is it possible that CLICO did not have not enough assets to pay you 12 years ago, and now CLICO holds US $500 million “surplus” assets?
→ Back-stabbers Scratching Each Other’s Back

You see, dear “EFPA,” these professional classes were your servants, paid from your premiums “to act in the public interest” but turned into grifters with their interest 100% misaligned with your interest: had you been paid what was rightfully yours, there would have been nothing for them to do these last 12 years. And do you know what is even worse? They have been paid for 12 years from the money stolen from you for their setting up roadblocks to protect your money from you. 

→ Every Dog Will Have Its Day

I’ve done my best to present wrongdoings as simple common sense that advocates for rallying “EFPA” for justice. It isn’t easy to pull back the curtain on hidden motives, agenda, self-dealing, coveting, collusion, and violations of law, actuarial standards, and accounting and auditing standards.

CLICO is a financial institution for God’s sake: the proof is in the pudding, dear “EFPA,” and it’s a dog’s breakfast; our servants have all gone to the dogs and we don’t have a dog in this fight for our money with the big GORTT dog: CBTT is the running dog, officers and directors are lap dogs carrying water for the big dog, the actuary and the auditor have been dogging it for a dog’s age and the Canadian Institute of Actuaries (CIA) is a dog that won’t bark. Dear “EFPA,” it’s dog-eat-dog, I’m a dog catcher and I will call off the dogs and, trust me, every dog will have its day. 

And do you know what is even more galling? The big dog does not belong in our sanctuary, bullied and lied his way in, ate our money as the other dogs laid down and got flees, and desecrated a life insurance company; we need to bring that dog to heel. 

To be clear, no shareholder belongs in our sanctuary; CLICO must operate at arms-length from its directors and shareholders. The Big dog is an imposter, not a shareholder.

Please leave a comment with impressions and suggestions. I can be reached at geneD@avenueDconsulting.ca

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