CLICO shut down three of its top branches in Trinidad Friday, locking out about 100 of the insurance company's sales agents and staff at St Clair and St James and Valpark, There was no warning about the move and employees only learned about it when they reported for work and found the offices locked.
Small signs posted on the premises announced that the offices had been closed until further notice.
The three offices were considered to be the most profitable of the 30 branches that the company operates in the country.
Employees told the Trinidad Express they the company gave no reasons for closing the branch offices and expressed "shock" at the move.
They told the paper customers at the branches had been complaining they had not received their matured deposits from the company.
On Monday Central Bank Governor Ewart Williams told reporters that Cabinet has approved $5 billion to rescue CLICO and its depositors.
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